Cost of trip insurance

[wife2b]

I've never used nor looked into buying trip insurance- risky, I know :eek: However, after reading many horror stories here of cancelled trips, I've been inspired to purchase it for future vacations :D

How much does "cancel fo any reason" trip insurance typically cost? Any other tips for a trip insurance newbie? I have no idea where to start.

 

Thanks!

[GTO-Girl]

I've never used nor looked into buying trip insurance- risky, I know :eek: However, after reading many horror stories here of cancelled trips, I've been inspired to purchase it for future vacations :D

How much does "cancel fo any reason" trip insurance typically cost? Any other tips for a trip insurance newbie? I have no idea where to start.

 

Thanks!

 

go to www.insuremytrip.com and it will give you a comparison of companies and different policies. If you have any questions, just give them call & tell them your needs and they will point you in the right direction. Very nice folks....

 

Hope this helps!!

[arpie05]

We typically purchase for a cruise. I was going to try Carnival's but since most policy's kids are free - it's cheaper to book else where. We booked thru insure my trip .com for our cruise March 2011. My son came down with 2 ear infections and throat infection 2 days before we were to fly to Ft Lauderdale. I got all my money back. Dr. filled out a note saying he couldn't travel and that's what I used to support. It was actually a cancel policy not an any reason but it was worth not losing $2,100 by spending around $100 extra.

 

I priced Carnival's yesterday and because their's is based on rates - because our rate is $2 more pp then we're in the next tier and would have to pay $12 more pp! ($401-500 is $65 pp /$501 -600 is $79 pp)

 

For 2 adults it's not bad but if it's 1 adult +1 child or 2 adults +1 child it is not. ($237 vs $161 (Cancel for any reason added for $50) - this is for 2 adults and 1 child (est cost for total trip is $1000 pp)) - Carnival's does cover air even if it is not included in your cruise price. (So, I'm comparing same trip, $76 is one person's tips on a seven day cruise. :p

 

That said - Spending $100-250 to not lose $2000-3000 of your vacation money is worth it!

[DebJ14]

I've never used nor looked into buying trip insurance- risky, I know :eek: However, after reading many horror stories here of cancelled trips, I've been inspired to purchase it for future vacations :D

How much does "cancel fo any reason" trip insurance typically cost? Any other tips for a trip insurance newbie? I have no idea where to start.

 

Thanks!

 

Prices for insurance depend on your age and the cost of your trip so there is no exact answer to your question. DH and I just purchsased comprehensive trip insurance on Saturday for a cruise that is about $900 per person. We are 59 and the total premium for both of us was $112. We are covered for trip cancellation (for a long list of covered reasons), trip interruption, medical treatment and evacuation and baggage and default of the cruise line.

 

If we added the cancel for any reason option it would have been an additional 30% or $145.60 total. If we added the biz pack (cancel if you lose job, are required to work,) that would have been an extra $25.00 per person or $162.00 total.

 

Over the years we had to cancel and file claims 4 times. Twice it was for supplier default when the Big Red Boat (Premier) went out of business and when Commodore went under. We also had a claim when my father in law died the week before a cruise and another when I ruptured a disk in my back and couldn't go. All the claims were paid in full quickly. We always use Access America or Travel Safe, whichever is cheaper on a given trip.

 

If you are elderly, then the cruise line insurance is often the cheapest way to go, but not if you are younger.

[wife2b]

So.....

 

My guess is, the cost of trip insurance is a percentage of the cost of the trip- is that correct? Anyone?

[wife2b]

Seeing responses now :D Thanks guys!

[Tucker in Texas]

Go to "insuremytrip.com" or "squaremouth.com" and check out third party insurance. You can compare various policies side by side to find one that you like cost/coverage wise.

 

Third party insurance is almost always much cheaper than cruise insurance. For instance, I have a party of four in two cabins. One cabin is Mom and Dad, the other is son (21) and daughter (16). Cruise insurance was quoted at $95 per person. I got all four of them insurance with Travel Guard for $103. Third party insurance is based on age/cost of the cruise vs. cruise insurance of one-price-fits all regardless of age. That works better sometimes for an elderly person but not often. In some cases, dependents are insured for free. In the case of my clients, they were traveling with another son and his wife (24). Their insurance was $75. I think the reason for the difference in price is dependent children under a certain age on the same policy are not charged. I know some policies do not charge for children.

 

Third party insurance is door to door. If you plan any independent pre/post cruise, you won't be covered by cruise insurance unless you buy their packages of air/hotel which are usually more expensive than doing your own air and hotels.

 

If you read the "fine print," you will find the cruise line "cancel for any reason" may only be a voucher good for 75% of your cruise fare on a future cruise with time limitations sometimes. There are a few third party policies that will include that provision but it usually is costly.

 

Cruise line insurance does not include pre-existing whereas if you buy the third party insurance within a certain amount of time after depositing it, it will be covered. Usually two weeks but sometimes three weeks.

 

Coverage on policies both third and cruise is usually secondary. This means you have to exhaust your other coverage possibilities before they will pay up. There is one company, Travelex, that is primary. I look to that one first and buy it if it is comparable in cost to other policies.

Sometimes it is, other times it isn't. I've had to put in a claim twice on secondary policies (TruTravel and Access America) and they paid up but it took work and time having to wait around to be denied or not compensated fully by my own insurance. On primary coverage, you just send them your claim and receipts and you get a check if it is covered.

 

Yes, it is an added expense but I just figure it in with the cost of the cruise right along with the tips, air, hotel, etc. when costing a cruise out Both my claims were minor (one for canceled non-refundable air when the cruise was canceled by the cruise line) the other for getting a stopped up ear flushed out at sick bay on the ship) and I could have easily absorbed the cost. Probably could have paid for a cruise with the money i have spent on insurance over the years when I've never used it. But then, like you, it's the horror stories I have heard that keeps me buying it. One major event and all the insurance I have bought over the years wouldn't start to cover what that event would cost out of pocket.

 

Sorry to go on so long but hope this helps.

 

Tucker in Texas

[sparks1093]

I just priced a TravelGuard Gold package policy through insuremytrip.com and it costs $113 and includes cancel for work related reasons and because I will be getting it within 15 days of reserving our cruise pre-existing condition exclusions won't apply. The trip we are looking at costs $750 each.

 

The rule of thumb that I've heard is the insurance shouldn't cost more than 10% of the trip you are insuring.

 

Also, make sure that the insurance that you buy will be primary for medical coverage, that way you won't have to file a claim with your present health insurance provider.

[ShellDil]

One other thing that the insurance covers is delays in travel. We used this on our last cruise when the Miami airport had that fire last March. Our flights were delayed causing us to have to spend a night in a hotel that wasn't planned. We also had to cancel one flight and book a different flight that cost us more than our original flights. We actually did have the cruise insurance (this was on Celebrity, so I don't know how different their insurance is) but we didn't even think to file a claim since we did make it to the ship on time - but barely! But someone on board told us to file a claim - so we did. We were able to document the additional costs we had and were reimbursed for everything! It was well worth it and something I wouldn't have thought to use the insurance for! I will always get the trip insurance going forward!

[Flick]

A tip I always use......the end date of your coverage should be at least one day later than you plan on returning. That way your hotel, food, and transportation (extra) costs are covered if something should happen such as bad weather or a delay in getting back to the dock for any reason that causes you to not connect with airlines etc.

[Tucker in Texas]

Good tip on extending coverage one or two days. Doesn't cost anything. Another tip is once you get the quote on your premium based on your known expenses, keep iupping the total cost until it causes the premium to go up. More coverage, same money. Might come in handy if you decide to upgrade your cabin or upgrade your air or commit to some expense you hadn't calculated in when you bought the insurance.

 

A couple of times, we have booked so far out that it was not possible to even book much less know what the exact cost of the air would be and hoped maybe we could use frequent flyer miles. In those cases, I have gone on and booked to get pre-existing without air factored in. Then, if I couldn't get frequent flyer miles and had to book on the economy have called and had the coverage increased, paid the difference in premium, and kept my pre-existing.

 

Tucker in Texas