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Personal emergencies may arise and force business people to cancel their planned business trips. This could mean that some travel expenses such as airfare will still have to be paid despite the cancellation. Some deposit fees for hotels, car rentals, and other similar expenses may also be lost.

A Travel Insurance policy includes a trip cancellation policy, which reimburses people who suddenly cancel their travel plans. Some insurance policies will only pay the money back for specific reasons such as medical emergencies or family deaths. Other policies may have a Cancel For Any Reason option, which covers all lost travel expenses regardless of the reason for cancelling.

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