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"cost" of the trip for insurance puposes


geepmaley

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We are a family of four people travelling together on a Med cruise. Cruise, plus pre and post airfare and hotels, prepaid attractions, etc., but used miles for three people and paid for one TA ticket.

 

How should I break up the costs? I am paying for the full amount myself, but covering my wife and two kids as well.

 

Purchased TA airfare is in my name

 

Travelex prices are abut 15% less if I just spread the cost over the four people (i.e. add it all up and divide equally by four) vs assigning the airfare to one parent. Is this legal? Some other companies don't care how the money is spread around. Since we are a family, its an all or nothing vacation for all of us (vs one going home and the rest continuing if something happens), so at least in my mind it should matter how I put the numbers in, but TravelEx has the Free kids rate which is what is lowering the premium

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We are a family of four people travelling together on a Med cruise. Cruise, plus pre and post airfare and hotels, prepaid attractions, etc., but used miles for three people and paid for one TA ticket.

 

How should I break up the costs? I am paying for the full amount myself, but covering my wife and two kids as well.

 

Purchased TA airfare is in my name

 

Travelex prices are abut 15% less if I just spread the cost over the four people (i.e. add it all up and divide equally by four) vs assigning the airfare to one parent. Is this legal? Some other companies don't care how the money is spread around. Since we are a family, its an all or nothing vacation for all of us (vs one going home and the rest continuing if something happens), so at least in my mind it should matter how I put the numbers in, but TravelEx has the Free kids rate which is what is lowering the premium

 

 

When buying a Travelex plan you are specifically asked for each person's trip cost -- not the total trip cost for the traveling party. If you fudge that you are risking having a claim denied because you were not truthful in applying for the coverage. Do you want to risk that? Here's their disclaimer:

 

"NOTE: Any person who knowingly and with intent to defraud any insurance company or other person, files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects such person to criminal and/or civil penalties. "

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You want to use only the "non-refundable" trip costs as your cost basis. Don't include the port charges and taxes. The port charges and taxes are "always" refundable by the cruiseline. Your insurance won't refund your taxes and port charges since that is refunded directly, you can't double dip. Don't insure something that you will never collect on.

 

Don't insure the cost of your hotel or rental car (if not pre-paid). You didn't pay for that yet, and you can always cancel.

 

I also don't insure the cost of my plane tickets. Most airlines will at least give you a voucher for a future trip, so that cost is not completely lost. If you do insure your plane tickets and claim that on your insurance, you will need to give your vouchers to the insurance company before they will give you a refund. Again, you can't double dip.

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You want to use only the "non-refundable" trip costs as your cost basis. Don't include the port charges and taxes. The port charges and taxes are "always" refundable by the cruiseline. Your insurance won't refund your taxes and port charges since that is refunded directly, you can't double dip. Don't insure something that you will never collect on.

 

Don't insure the cost of your hotel or rental car (if not pre-paid). You didn't pay for that yet, and you can always cancel.

 

I also don't insure the cost of my plane tickets. Most airlines will at least give you a voucher for a future trip, so that cost is not completely lost. If you do insure your plane tickets and claim that on your insurance, you will need to give your vouchers to the insurance company before they will give you a refund. Again, you can't double dip.

 

On the port charges etc. if something happens mid cruise I assume they are already paid?

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If a port is missed or cancelled for some reason on your cruise, the port fee will be credited to your shipboard account. In essence, you will receive an instant refund of the port fee. Hope this helps! Have a great trip & cruise!

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You want to use only the "non-refundable" trip costs as your cost basis. Don't include the port charges and taxes. The port charges and taxes are "always" refundable by the cruiseline. Your insurance won't refund your taxes and port charges since that is refunded directly, you can't double dip. Don't insure something that you will never collect on.

 

Don't insure the cost of your hotel or rental car (if not pre-paid). You didn't pay for that yet, and you can always cancel.

 

I also don't insure the cost of my plane tickets. Most airlines will at least give you a voucher for a future trip, so that cost is not completely lost. If you do insure your plane tickets and claim that on your insurance, you will need to give your vouchers to the insurance company before they will give you a refund. Again, you can't double dip.

 

On the port fees, are all the taxes and fees listed port fees that will be refunded? If there is an emergency mid cruise (vs a problem with the ship not making port and I have to cancel the balance of the cruise, would I get the port fees back for those ports we "missed"

 

Do the insurance places make you itemize things (I guess they would) if you have to make a claim?

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I also don't insure the cost of my plane tickets. Most airlines will at least give you a voucher for a future trip, so that cost is not completely lost. If you do insure your plane tickets and claim that on your insurance, you will need to give your vouchers to the insurance company before they will give you a refund. Again, you can't double dip.

But you can keep your airline credits and claim the change fee that you have to pay to cancel, usually $150+ per ticket.

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  • 3 weeks later...
But you can keep your airline credits and claim the change fee that you have to pay to cancel, usually $150+ per ticket.

 

But if you have insurance, why bother doing that? Your insurance would give you a complete refund for your flights (after you turn in your vouchers for a future flight). So if you do that you can buy a future flight using your refund, or you can forget about a future trip and just pocket the money.

 

But if you keep the vouchers, and have your insurance pay the change fee, then you would be locked into a future flight.

 

The insurance company won't give you a refund and let you keep the vouchers at the same time.

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