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Insuring just the deposit


karinad

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A few yrs. ago I put a deposit on a cruise and inquired about travel insurance at that time. My concern was that we were not sure if we were going to do this cruise, as it was a yr. in advance, but we wanted to make sure any pre-exicisting conditions were covered. At the time we had a daughter with us with many disabilities. The insurance co. told me that I could just put the minimum with coverage just for the amt. of the deposit, and not covering the amt of the full cruise. She instructed me just to remember to call and add on to it when final payment was made. She said that pre-exisiting conditions would be covered should something happen if we had to cancel. I don't remember what company we used. This mad more sense to me since we didn't have to put out the couple hundred for the full amt. Has anyone ever done this?

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A few yrs. ago I put a deposit on a cruise and inquired about travel insurance at that time. My concern was that we were not sure if we were going to do this cruise, as it was a yr. in advance, but we wanted to make sure any pre-exicisting conditions were covered. At the time we had a daughter with us with many disabilities. The insurance co. told me that I could just put the minimum with coverage just for the amt. of the deposit, and not covering the amt of the full cruise. She instructed me just to remember to call and add on to it when final payment was made. She said that pre-exisiting conditions would be covered should something happen if we had to cancel. I don't remember what company we used. This mad more sense to me since we didn't have to put out the couple hundred for the full amt. Has anyone ever done this?

 

My guess would be Travel Guard. They seem to e the most flexible with this.

 

Just be sure you're complying with ALL of the requirements to get the waiver especially #2:

 

"Pre-Existing Medical Condition Exclusion Waiver

The Insurer will waive the pre-existing medical condition exclusion up to a maximum of the first $30,000 of Trip Cost per person if the following conditions are met:

1. This plan is purchased within 15 days of making the Initial Trip Payment;

2. The amount of coverage purchased equals all prepaid nonrefundable payments or deposits applicable to the Trip at the time of purchase, and the cost of any subsequent arrangement(s) added to the same Trip are insured within 15 days of the date of payment or deposit for any subsequent Trip arrangement(s);

3. All Insured's are medically able to travel when plan cost is paid."

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We use Travel Guard ... and, yes, we only insure the amount we outlay, and increase coverage immediately upon booking air tix and making additional payments to the cruise line.

 

Since insurane is non-refundable, tho generally transferrable to a different trip, your loss would be less if you cancelled and didn't transfer the insurance, as the premiums are based on trip cost.

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Travelex Insurance Services will only let decrease your insured amount if it's before the ten day money back guarantee period. If it's after that period, you can longer decrease your premium.

 

Most companies follow this same guideline.

 

Travel Guard will allow you to request a decrease after the money back guarantee period, however, it is not guaranteed that they will decrease the coverage and refund the difference in premium.

 

In answer to this question:

 

"Hi,

 

I am booking a cruise for Fall of 2012. My question is if I insure the cruise now but a year from now the fare has gone down enough that there's a lower premium can I change my trip cost and get a refund of the difference? Thanks! "

 

I go the following response:

 

"Thank you for choosing Travelex Insurance Services. In regards to your question, you can modify existing policies any time prior to the departure dates listed on the policy. This include decreases and increases to the coverage. If you have any questions, please do not hesitate to contact our Sales department at 1-800-228-9792, M-F: 8am-7pm CST.

 

Kind regards,

 

Travelex Insurance Services"

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I did buy our trip insurance the other day. I talked to a very helpful agent at insuremytrip. I asked him about just insuring the least amt. I paid about half of what it will be once final payment is made. I got in before the pre-existing waiver(within 21 days for Travelinsured) was up. If we end up paying less or changing our cruise, at least we won't have over-paid. We wouldn't lose money either as long as we travel within a yr.

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