Traveling by air can be very expensive which is why many people often appreciate lower, more affordable fares. In fact, the cost of an airline ticket tends to be one of the first things people look for when they book, with comfort and convenience coming in next. But one thing that is often overlooked is the possibility of a refund.

Most airlines offer a choice between refundable and nonrefundable airline tickets—something a lot of us tend to skip over or overlook altogether. The main reason why refundable tickets aren't a popular purchase is that they tend to be much more expensive than their nonrefundable counterparts.

The following is a list of popular airlines across the United States. Read on to find out the basics about refundable tickets along with a comparison between pricing for refundable and nonrefundable airline tickets for sample flights, as well as information on each airline's cancellation or change policies. Note: The costs for flights below are used for illustrative purposes only.

Key Takeaways

  • Refundable flights are more expensive than nonrefundable ones.
  • Book a refundable flight if you're even remotely uncertain about your travel plans.
  • Some airlines charge a fee to issue a refund, while others have a strict cancellation policy.
  • Most airlines have a full refund policy if you cancel your flight within 24 hours of booking.
  • Southwest has the least expensive refundable tickets with no cancellation fees, while American Airlines has the most expensive refundable tickets on a New York to Austin, Texas trip.

The Basics of Refundable Tickets

When you buy your airline ticket one thing you'll probably skip over is the option to book a refundable ticket. These are bookings you can make that can be fully refunded—or, in some cases, partially—to your credit or debit card if you have to cancel your flight for any reason.

As noted above, refundable flights are normally more expensive than regular, nonrefundable ones. The costs can range from a few hundred to thousands of dollars, depending on the kind of flight you book—economy, business, or first class. Booking a refundable versus a nonrefundable ticket depends on your needs. If you're traveling for business, there's a good chance you won't be canceling your trip and you probably won't be paying for it yourself, so you likely won't need a refundable ticket. But if there's any doubt in your mind that you won't be able to meet your travel date—perhaps there's someone in your family who's ill, or you'll be traveling for your sister's new baby and the delivery date is still up in the air—you should consider a refundable ticket. The cost of paying for one of these tickets will definitely outweigh paying for a flight you won't take.

Getting a refund often depends on what class you're booked on—economy, business, or first class.

A few things to keep in mind about refundable tickets, though. Some airlines charge a fee to issue a refund, while others have a strict cancellation policy. In these cases, you may have a window of time during which you can request a refund. This does, of course, depend on your relationship with the airline. If you're a frequent flyer who has racked up a lot of miles, the company may be willing to overlook their policies and grant you your refund. An important point to note: All flights are, on average, fully refundable within 24 hours of booking, so all is not lost even if you book a nonrefundable flight.

Be sure to check with your airline about their refund policies.

Southwest

Southwest is arguably the most popular airline in the United States. When it comes to refundable versus non-refundable tickets, the majority of tickets offered by Southwest are refundable, with no penalties. While there are some drawbacks to flying Southwest, such as its standby and over-selling practices, the gamble tends to be worth the risk when analyzing the perks that the airline offers.

The airline's Wanna Get Away tickets—the cheapest ones available—are nonrefundable. But they may be applied toward future travel during a certain period of time. Refunds apply to both the Anytime and Business Select classes.

  • Sample Trip: New York, NY (LGA) to Austin, Texas (AUS)
  • Nonrefundable Ticket Price: $348
  • Refundable Ticket Price: $598
  • Cancellation/Change Fee: $0

JetBlue

With JetBlue's perks, such as free in-air Wi-Fi and complimentary snacks and beverages, it's not surprising that it also tops the popularity list when it comes to air travel. JetBlue offers both refundable and nonrefundable tickets, with refundable tickets the following suit as being the more expensive choice of the two. JetBlue's cancellation or change fees range from $75 to $200 per person, depending on the price of the initial fare. Refunds are not available on flights booked as part of a vacation package.

  • Sample Trip: New York, NY (JFK) to Austin, Texas (AUS)
  • Nonrefundable Ticket Price: $520
  • Refundable Ticket Price: $635
  • Cancellation/Change Fee: $75 to $200 as well as any difference in airfare when rebooking another flight

Delta

While Delta Airlines is a popular choice for domestic travel, it's even more popular when it comes to international travel. Delta offers refundable and nonrefundable tickets as well, but its cancellation fees are a bit steeper than those demanded by JetBlue. For domestic travel, Delta charges a $200 cancellation or change fee, and the fee increases to range from $200 to $500 for international travel, depending on the price of the initial fare and location.

  • Sample Trip: New York, NY (JFK) to Austin, Texas (AUS)
  • Nonrefundable Ticket Price: $183
  • Refundable Ticket Price: $875
  • Cancellation/Change Fee: $200 for domestic flights and $200 to $500 for international flights. You're responsible for the difference in cost for flights if you're making a change

United

United Airlines permits cancellations or changes without a penalty only if the flight is canceled or changed within 24 hours of booking. Refunds cannot be given to basic, economy tickets, although other classes may qualify. Any changes or cancellations following the first 24 hours incur a minimum fee of $200 per person. As with the previous airlines, the refundable ticket price is nearly four times the amount of the nonrefundable price for the same exact trip.

  • Sample Trip: Newark, NJ (EWR) to Austin, Texas (AUS)
  • Nonrefundable Ticket Price: $261
  • Refundable Ticket Price: $311
  • Cancellation/Change Fee: $200 for domestic flights and $200 to $400 or more for international flights

American

American Airlines works quite similarly to United and Delta in terms of how it offers refundable and nonrefundable tickets. The cancellation or change fees are similar as well, in that they range upwards of $200 depending on the type of flight.

  • Sample Trip: New York, NY (JFK) to Austin, Texas (AUS)
  • Nonrefundable Ticket Price: $184
  • Refundable Ticket Price: $679
  • Cancellation/Change Fee: $75 for domestic flights and $150 for international flights (same day flight change)