courtesy of the Franklin D. Roosevelt Library Digital Archives

No one wants to cancel their vacation. In addition to the sheer disappointment of lost opportunities, there is also the potential for lost money in the form of tickets or deposits. In today’s economy, more and more people have to back out of travel plans as their employment situation changes. Fortunately, there are some simple things you can do to save money when you cancel a trip:

1. Shop Smart. Before you book your trip, know what the cancellation policies are. You might have a different cancelation policy at your hotel than you will with your airline tickets, for example. By knowing what’s truly at risk in the event of cancelation, you’ll be able to properly prepare.
2. Cancel Early. The sooner you cancel a trip you know you won’t be able to go on, the less likely you are to have to pay certain fees. Most hotels, for example, will refund any deposit as long as you are able to cancel your trip at least two days ahead of time.
3. Know Who To Talk To. The travel agent you work with probably doesn’t have a whole lot of pull with the airline. Instead, find out who you can talk to at the airline and see what kind of progress you can make.
4. Call Instead of Using the Internet. While the Internet is great for getting deals on your trip in the first place, it’s a lousy way to try to address a customer service issue or get a refund. Get the company’s phone number and call them if you hope to get some of your money back.
5. Be Polite and Professional. When you’re dealing with customer service representatives, realize there are limits to their power. If they can’t get you what you need, take it to the next level but do so in a courteous manner.
6. Consider Alternatives to Money. Some companies may not be able to refund your money, but they may be able to offer you some other benefit. For example, you might be able to get an extra night free when you do stay at that hotel, or a first class upgrade next time you fly.
7. Get Travel Insurance. The only way to make sure you don’t wind up paying too much after canceling a trip is with travel insurance. Travel insurance can recover the cost of a plane ticket, hotel room deposit or even the cost of attending a sporting event. Coverage can vary, of course, but if you’re planning on an expensive trip you need to get travel insurance.