austinhoops Posted October 31, 2013 #1 Share Posted October 31, 2013 Such a helpful group of people here...I hope I can both you with another travel insurance question. This has to do with estimating costs in $$ that are quoted in Euros. I have read (and been told by my insurer, Travel Guard) that in order for a pre-existing policy to be legitimate, every non-refundable part of the trip must included in the policy. I understand, that's fine. However, you also must be EXACT, to the penny, or they can deny the claim. I referenced this story in another thread about a young woman who was off by $2.50 in estimating her airfare portion and therefore had her claim denied: http://articles.chicagotribune.com/2012-05-22/travel/sns-201205220000--tms--traveltrctntt-b20120522-20120522_1_travel-insurance-travel-guard-insurance-purchase So here is my dilemma... I have 2 hotel confirmations in Europe, booked online through a well-known online agency. Both prices are quoted in Euros, with an estimate for the amount in dollars. The confirmed price is the Euro price, so the dollar amount might vary depending on the exchange rate. I asked the rep at Travel Guard what amount I should insure at ---today's exchange rate?-- to be sure I don't have a problem with the claim if the amount if off due to exchange rate variances. He wasn't sure, so he checked with another rep and told me just to insure it at today's conversion rate. So that's what I did. My concern is, if the actual amount ends up being a little different due to exchange rate variance (which it likely will be- the trip is 8 months away)- might they deny me in the event I have to make a claim? After reading the above article and a few comments on this board, I'm concerned. Would appreciate if you have faced this currency issue before and the best way to manage it. I hope the rep was right, but I'd hate to be burned later when I've been very diligent about insuring for each piece of this trip. Link to comment Share on other sites More sharing options...
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