Purchase Timing

We have $600 down in refundable deposits for a cruise next summer. I've read that many wait until the remaining balance is due (March for us). I've also read that it is easier (perhaps cheaper) to get pre-existing coverage if I book within a couple weeks of initial deposit. I'm just curious what most people would do: book insurance at time of refundable deposit, or wait until the balance is due?

We have $600 down in refundable deposits for a cruise next summer. I've read that many wait until the remaining balance is due (March for us). I've also read that it is easier (perhaps cheaper) to get pre-existing coverage if I book within a couple weeks of initial deposit. I'm just curious what most people would do: book insurance at time of refundable deposit, or wait until the balance is due?

The closer to the cruise . Prices are usually higher and cabin selection would be poor.

We get insurance within the prescribed time by insurance to be covered by pre-existing medical condition, 21 days for ours. Trip costs to be covered is amount of initial payment made, deposit or otherwise.

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We have $600 down in refundable deposits for a cruise next summer. I've read that many wait until the remaining balance is due (March for us). I've also read that it is easier (perhaps cheaper) to get pre-existing coverage if I book within a couple weeks of initial deposit. I'm just curious what most people would do: book insurance at time of refundable deposit, or wait until the balance is due?

We prefer to get our insurance through www.TripInsuranceStore.com and with a particular insurer, Travel Insured, given our good experience with both (including having a couple of large claims paid with no difficulty).

Using the particular policy we prefer, we need to start the coverage within 20 days of our *first* payment (refundable or not), such as the deposit for a cruise, in order to avoid having pre-existing conditions excluded.

But we only need to insure the amount that is already paid. After that first payment, we we can up the coverage bit by bit as we make more payments, so we don't need to pay for the insurance coverage for amounts not yet paid for the trip.

IF we miss that 20 day window, there is another insurer who offer a policy the would include pre-existing conditions, IF the policy is started within 24 hours of final payment (defined narrowly). However, for our purposes, it isn't quite as good a policy as the one we usually get. We also have no experience with claims from this other insurer.

GC

Thanks for all the feedback. Makes sense. I suppose the only concern would be with losing money if you decide not to go and get your refundable deposit back (losing the $100-200 in insurance on the deposited amount).

Thanks for all the feedback. Makes sense. I suppose the only concern would be with losing money if you decide not to go and get your refundable deposit back (losing the $100-200 in insurance on the deposited amount).

The policy we get will allow us to "switch" to a different trip once, within a certain time limit, so that early premium isn't necessarily lost.

GC

If you need pre-existing coverage then book now.

Check with the insurance company. If your deposit is $600.00 you might be able to insure just that amount and when you make your final payment insure the rest. Again every insurer is different so check with a few companies.

Keith

Why should they have to insure the $600 if it is refundable?

Why should they have to insure the $600 if it is refundable?

Some policies, if one wants to include pre-existing conditions and CFAR coverage, require that one start insurance with the *first* payment, refundable or not, and some policies also require that one cover ALL pre-paid costs, refundable or not.

And insurance must be started/increased within 20 days of each payment.

So the insurance on that first deposit is "at risk" if one cancels the trip.

But our policies allow one change (within something like a year or so) such that the premiums paid can be applied to a different trip.

We've used this a few times, and have never had a double cancellation such that we've totally lost the early premiums. Yet...

But the early premiums are really tiny compared with the full insurance costs most of the time.

GC