dmdiver

Seven Corners is the same - in the schedule of benefits it states that trip cancellation is up to 100% of non-refundable insured trip cost...

This is what it has under Payment of claims in the World Nomads policy underwritten by Nationwide. "All benefits payable under this Policy shall be reduced by the amount of any credit, voucher or refund provided by any Common Carrier, Travel Supplier or any other third party." So, based on that wording, my air would not be covered if the airline issues a travel credit in lieu of a refund.

I'm confused. Everything I read on insurance company sites says they cover non-refundable items. Anything that is refundable whether that refund is travel credit or actual refund of payment is not covered. So, after reading that, what would be the benefit of insuring a refundable deposit? Wouldn't the insurer just deny, since you are getting that back? Am I misreading something?