non refundable air fare - is insurance a good idea?

Just purchased non refundable air fare... wondering if we should buy insurance in case something unforeseen happens?

 

Is this something folks do with non refundable tickets... generally purchase air tickets with a penalty but cost was prohibitive... non refundable $2172... with penalty over $5000...

 

Any thoughts on which insurance carrier would be good for insurance on such a ticket?

Just purchased non refundable air fare... wondering if we should buy insurance in case something unforeseen happens?

 

Is this something folks do with non refundable tickets... generally purchase air tickets with a penalty but cost was prohibitive... non refundable $2172... with penalty over $5000...

 

Any thoughts on which insurance carrier would be good for insurance on such a ticket?

 

I always buy non refundable tickets as the cost difference is normally massive. I bought ours for our NZ/Aus cruise this November before Christmas as it was a good fare & I wanted specific seats to pre-book & bought our insurance as soon as the flights were booked.

Just purchased non refundable air fare... wondering if we should buy insurance in case something unforeseen happens?

 

Is this something folks do with non refundable tickets... generally purchase air tickets with a penalty but cost was prohibitive... non refundable $2172... with penalty over $5000...

 

Any thoughts on which insurance carrier would be good for insurance on such a ticket?

 

You may want to check with your credit card company. Some offer some type of travel insurance if the tickets were purchased with their card. If you need additional coverage, you can then buy it at a cheaper rate.

I typically don't buy insurance for things like trip cancellation - neither for the flight or the cruise....even for the non-refundable airfare The amount and the likelihood of needing to cancel doesn't make it worthwhile to me. If the risk were higher (eg I had a parent in ill health that might need me without notice), I might consider it.

 

YMMV. The only insurance I buy is emergency medical.....never travel without it.

I typically don't buy insurance for things like trip cancellation - neither for the flight or the cruise....even for the non-refundable airfare The amount and the likelihood of needing to cancel doesn't make it worthwhile to me. If the risk were higher (eg I had a parent in ill health that might need me without notice), I might consider it.

 

YMMV. The only insurance I buy is emergency medical.....never travel without it.

 

I agree! Insurance is a waste of money, unless you fall into certain categories.

There is a reason these companies are silly rich.

 

Kel

I agree! Insurance is a waste of money, unless you fall into certain categories.

There is a reason these companies are silly rich.

It depends on how much money. My companion and I share a travel insurance policy. It costs us £160 for this year, which covers an unlimited number of trips taken in a whole year subject to a maximum of 31 days for each trip. It includes £5,000 per person cancellation cover for all the common reasons (including serious illness, death including of family members) as well as £10,000,000 of medical cover (which we would not otherwise have when overseas).

 

A waste of money? I don't think so. As always, it depends on how much you're paying and what you're getting in return. Categorical statements like that don't help people to analyse the costs and benefits.

I always by a blanket insurance policy with both trip cancellation, trip interruption, medical, and emergency evacuation. We have elderly parents who have health problems, and I would rather spend the extra $100 or so for the insurance than potentially lose thousands and thousands if we had to cancel or leave the trip early. Spent about $350 last year to cover $10K in expenses (plane tickets, flat rental, and some prepaid items) plus medical and medical evacuation for the two weeks we spent in London this year. Was well worth the peace of mind and pennies compared to the potential loss.

 

I don't unsure land based trips within the U.S. Our health and auto continues to cover us, hotel reservations are generally cancellable with at most the loss of one night's room. Plane tickets can usually be rebooked with a change fee, so total out of pocket might be $1000 at most--that's a loss I can swallow.

Edited May 10, 2015 by ducklite

It depends on how much money. My companion and I share a travel insurance policy. It costs us £160 for this year, which covers an unlimited number of trips taken in a whole year subject to a maximum of 31 days for each trip. It includes £5,000 per person cancellation cover for all the common reasons (including serious illness, death including of family members) as well as £10,000,000 of medical cover (which we would not otherwise have when overseas).

 

A waste of money? I don't think so. As always, it depends on how much you're paying and what you're getting in return. Categorical statements like that don't help people to analyse the costs and benefits.

 

I stand by that statement, that is, the whole statement -- "insurance is a waste of money, unless you fall into certain categories" People who are in poor health; people who are elderly, people who take an occasional high dollar vacation; people who have a high risk of weather related problems and are on a tight schedule…,

 

Like you, I have a year long medical/evacuation plan that runs $170 a year(for two of us). My health insurance plan covers me out of country. I self insure for everything else. We travel 10 -- 12 weeks of the year, with two, three or four cruises thrown in the mix and I've never had a problem. I'm sure we've saved over $35,000 by not buying traditional trip insurance. The CEO of our car/house insurance company makes $100 million dollars a year. Companies that play on people's fear do really well. :D

 

Enjoy!

Kel

Insurance always seem a waste of money until you need it.

Insurance always seem a waste of money until you need it.

 

Not really -- only if you need it for something significant and tragic, IMO. That's what insurance is really for, IMO.

 

Of course, what a "significant" amount of money to someone will be different for each person. To me, the loss of a $1500 investment isn't significant, but to someone else it might be. Of course it hurts, but it's manageable....I just adjust my savings and my plans for future vacations - but for someone else, it might mean unpaid rent.

I think that being European,travel insurance is an essential part of travel as the chances are you are travelling to a different country rather than state to state. I lived & worked in Greece & Cyprus for 15 years and saw first hand the trauma & distress the lack of travel insurance causes tourists including finding 20,000 euros required for an air ambulance.

 

My trip cover for Aus/NZ in November has cost me just £40 ($60) for both of us - a small price to pay seeing I just claimed back over £2,000 ($3,000) from a trip we had to cancel to Mexico with non-refundable tickets/hotels due to medical reasons.

Not really -- only if you need it for something significant and tragic, IMO. That's what insurance is really for, IMO.

 

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Isn't that what I said? "...until you need it"?

Edited May 10, 2015 by 6rugrats

I stand by that statement, that is, the whole statement -- "insurance is a waste of money, unless you fall into certain categories" People who are in poor health; people who are elderly, people who take an occasional high dollar vacation; people who have a high risk of weather related problems and are on a tight schedule…,

 

Like you, I have a year long medical/evacuation plan that runs $170 a year(for two of us). My health insurance plan covers me out of country. I self insure for everything else. We travel 10 -- 12 weeks of the year, with two, three or four cruises thrown in the mix and I've never had a problem. I'm sure we've saved over $35,000 by not buying traditional trip insurance. The CEO of our car/house insurance company makes $100 million dollars a year. Companies that play on people's fear do really well. :D

 

Enjoy!

Kel

 

Seriously rich people like yourself, with four or five holidays on the go at once, can afford that sort of thing than the more average sort of person who travels less often. If you own one house, you need to insure it. If you own fifty, you can take your chances.

 

And crucially, you come from a country where insurance is ridiculously expensive - in the UK (if healthy) you could get 50 consecutive annual insurances covering your holiday history from age 20 to age 70 for a total of one-tenth of what you have saved. And that includes medical and evacuation coverage as well as cancellation and luggage.

I stand by that statement, that is, the whole statement -- "insurance is a waste of money, unless you fall into certain categories" People who are in poor health; people who are elderly, people who take an occasional high dollar vacation; people who have a high risk of weather related problems and are on a tight schedule…,

 

 

Agree with this totally and, unfortunately, we have always fallen into one of those categories .... either elderly parents and now personal health issues. We would now never travel without total coverage.

 

However, if you are young and healthy and live in the U.S., taking a Caribbean cruise out of a U.S. port, you can probably get away with no insurance.

 

If you are booking a $15K trip, insurance might give you some piece of mind .... just in case.

Our extra health insurance covers both of us for up to 2 million per trip which can be up to 93 days at a time. We were thankful we had this in 2013 when DH had health problems while we were on a Med cruise. He was evacuated from the ship in Naples to an excellent heart hospital, and spent 10 days in their care before we could fly home. When we began the procedure to recover expenses, the company was excellent and we were covered for every expense except a 9 Euro taxi fee I needed to get to a travel agency in order to book plane tickets. Because we have such a great policy which runs about $ 600 per year for both of us, we had never considered buying the medical insurance offered by the cruise company. Although the insurance company dealt with that cost ( over $ 6500 for about 28 hours of wonderful care) I needed to pay the bill before disembarking. We now would take on the added cost of this insurance policy in order to save the added stress that put on me at the time. We were not informed by the staff that it could have been paid later and I thought I needed to pay before we could leave the ship. Would never travel without health insurance which also includes air evacuation. IT is worth the peace of mind and I speak from first hand experience.

Isn't that what I said? "...until you need it"?

 

No, "needs" are not always significant or tragic. IMO insurance is for the most serious needs.

Edited May 10, 2015 by calliopecruiser

I stand by that statement, that is, the whole statement -- "insurance is a waste of money, unless you fall into certain categories" People who are in poor health; people who are elderly, people who take an occasional high dollar vacation; people who have a high risk of weather related problems and are on a tight schedule…,

 

Like you, I have a year long medical/evacuation plan that runs $170 a year(for two of us). My health insurance plan covers me out of country. I self insure for everything else. We travel 10 -- 12 weeks of the year, with two, three or four cruises thrown in the mix and I've never had a problem. I'm sure we've saved over $35,000 by not buying traditional trip insurance. The CEO of our car/house insurance company makes $100 million dollars a year. Companies that play on people's fear do really well. :D

 

Enjoy!

 

 

Kel

Very well reasoned, and stated. The standing medical/evacuation coverage is vital but is all you really need if you have good merical insurance. Traditional trip insurance., like extended warranties on appliances, etc. are sure ways of enriching insurers at your expense. My one exception is American Express auto rental - for $25 per rental (regardless of duration) you are covered - we went for two weeks in St. Maarten and three in Florida each yearn- the deal makes sense. For a one or two day rental (if any) I use another card.

I stand by that statement, that is, the whole statement -- "insurance is a waste of money, unless you fall into certain categories" People who are in poor health; people who are elderly, people who take an occasional high dollar vacation; people who have a high risk of weather related problems and are on a tight schedule…,

 

Like you, I have a year long medical/evacuation plan that runs $170 a year(for two of us). My health insurance plan covers me out of country. I self insure for everything else. We travel 10 -- 12 weeks of the year, with two, three or four cruises thrown in the mix and I've never had a problem. I'm sure we've saved over $35,000 by not buying traditional trip insurance. The CEO of our car/house insurance company makes $100 million dollars a year. Companies that play on people's fear do really well. :D

 

Enjoy!

Kel

 

What do you consider a high dollar vacation and does your insurance cover you "in network" outside the US?

Edited May 11, 2015 by ducklite

What do you consider a high dollar vacation and does your insurance cover you "in network" outside the US?

 

People who save for four years to take a two week vacation. "High dollar" is relative to each person's situation. We have two modest incomes, but live in a small condo that is paid for; no children; no pets; no car payments. Some years, 70% of our disposal income (most of it) goes to travel.

I have a HMO that covers out of state and out of country with a co-pay. There are limits, but that's the reason I have a secondary policy.

 

Enjoy!

Kel:)

However, if you are young and healthy and live in the U.S., taking a Caribbean cruise out of a U.S. port, you can probably get away with no insurance.

 

Please don't spread information that is potentially very incorrect. Many (if not most) group medical policies provided by employers in the US do *not* cover outside the US, except life-threatening emergencies. Breaking a leg ziplining often fails to meet the threshold. Unlike the US, many countries won't provide medical services until paid in advance or a bond is posted. Also be aware that if you are covered by US insurance, you must fully document every item and are out-of-pocket until a claim is filed and processed once you're home.

 

I don't want to sound worry-wort, but you must check your medical policy carefully, or better yet call the insurance company to verify....I've worked for two major, multinational corporations where insurance provided emergency-only coverage outside the US. Trip insurance can fill in any gaps, and many policies have provisions to relocate you to a better in-country facility, post any bonds or payments, and evacuate you home or bring relatives to you. (No, I don't have any financial interest in TI).

 

OP asked about covering a flight...I assume this is a domestic trip with no cruise involved?

Edited May 11, 2015 by kenish

PS--A broken femur is ALWAYS considered a medical emergency due to the proximity of the femoral artery. Breaks to arms which are not compound are typically urgent but not necessarily emergent. ;)

I was on a flight a few years back and the couple next to me were returning from a trip to an AI in Mexico. She had broken her arm in the middle of the week. They didn't have insurance and didn't have enough room on a credit card or money in the bank to change their airfare and she had spent several days in pain with an arm splinted at a local clinic that really needed to be set.

Appreciate everyone's comments.

 

I have decided not to insurance my non refundable ticket but to instead to buy an annual insurance plan for both my dh and myself for a year... which will cover medical and emergency evac plus.

I have decided not to insurance my non refundable ticket but to instead to buy an annual insurance plan for both my dh and myself for a year... which will cover medical and emergency evac plus.

 

I just re-read your first post where you say:

Is this something folks do with non refundable tickets... generally purchase air tickets with a penalty but cost was prohibitive... non refundable $2172... with penalty over $5000...

What kind of ticket cost $2172, yet has a penalty of $5000 to make a change?

PS--A broken femur is ALWAYS considered a medical emergency due to the proximity of the femoral artery. Breaks to arms which are not compound are typically urgent but not necessarily emergent. ;)

 

Not in my specific case...broke my femur (displaced fracture) bicycling a few miles from home. Rode the rest of the way home. Trauma nurse neighbor and paramedics diagnosed over the phone and considered it an urgency but not a life-threatening emergency. All were OK with my getting to the hospital by car and not by ambulance.

Edited May 11, 2015 by kenish