Cancel for any cause journey insurance coverage to hit $3b in 2026

Travellers more and more need safety for adjustments excluded from commonplace cancellation insurance policies.

The world cancel for any cause (CFAR) journey insurance coverage market is anticipated to develop from $2.67b in 2025 to $2.98b in 2026, a compound annual development charge (CAGR) of 11.7%, as travellers search extra versatile safety towards adjustments to their plans.

The market is forecast to achieve $4.58b by 2030, rising at a CAGR of 11.3% over the interval, in line with The Business Research Company.

CFAR is an non-obligatory journey insurance coverage improve that enables policyholders to cancel a visit for causes not usually coated by commonplace journey cancellation insurance policies. It usually gives partial reimbursement of pay as you go, non-refundable journey prices.

The market’s development has been supported by rising worldwide journey, better consciousness of journey insurance coverage, extra flight cancellations and delays, the enlargement of on-line journey reserving platforms and better spending on leisure journey.

International journey continues to supply a key supply of demand. UN Tourism reported about 300 million worldwide travellers within the first quarter of 2025, up 5% from the identical interval in 2024.

The market can also be anticipated to profit from rising demand for versatile and customisable insurance coverage merchandise as geopolitical tensions and climate-related disruptions create better uncertainty round journey plans.

North America accounted for the biggest share of the CFAR journey insurance coverage market in 2025, supported by established insurance coverage infrastructure and excessive journey volumes.

Asia-Pacific is anticipated to be the fastest-growing area in the course of the forecast interval, pushed by increasing middle-class populations, rising outbound tourism and elevated digital adoption.