Travel has gotten expensive. Folks looking to save a little money on their next flight, hotel stay, or car rental might consider booking a non-refundable fare. But a recent report by WCPO in Cincinnati says that could end up costing more in the long run.
Consumer advocates warn that if you need to change or cancel your reservation, you won’t get your money back or, in most cases, credit for a future booking. Still, some travelers say they are willing to take the risk, especially if they are confident they will complete their travel plans.
However, life happens. If you make a non-refundable reservation, travel experts say trip insurance can provide a safety net should you need to cancel your trip. To save money, they suggest purchasing insurance only for the amount you stand to lose. For example, if there is a 50 percent hotel cancellation fee, then insure only 50 percent of the cost of the reservation.
Do you try to save money by booking non-refundable rates and fares? Message The Seniors Trust on Facebook or X (formerly known as Twitter) and let us know if you think it’s worth the risk.
