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Why is Platinum Protection, or Cancel for any Reason insurance only guaranteeing 90% of fare reimbursement?


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9 minutes ago, albingirl said:

But, what if HAL cancels on me?  Am I out the amount of the insurance, even if they suspend April sailings?

They are letting you transfer the insurance to another cruise .It pays 100 percent when its covering for reason coverage. They need you to have some skin in the game. 

 

 

Edited by cruiseing marly
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Thanks. I think we are in unchartered territory.  We'll see.  It's a transatlantic April 22. No cancelation yet, but I don't think this virus is going away too soon.  I'm not going out of my house, but lots of people are roaming around.

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  • 2 weeks later...
On 3/14/2020 at 8:27 AM, albingirl said:

But, what if HAL cancels on me?  Am I out the amount of the insurance, even if they suspend April sailings?

 

In our cancellation letter from HAL they said they would be refunding the Standard Plan to our credit card.  (Have not seen it yet, I emailed our PCC this morning and she said to expect to wait 30 days for reimbursement.)

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15 hours ago, victory2020 said:

Has anyone had experience with cancelling for any reason? Rep says it goes back to your credit card.

Yes, we got it posted to our HAL/Barclay card in a day or two ... but that was in normal times.  It took us about 18 months to spend that huge credit because we couldn't book another cruise for a while.

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Insurance plans aren't all the same -- when asking questions it would be helpful if people specified who their carrier is.

 

I have NEVER purchased insurance through the cruise lines. Their offerings don't match up with my needs, so I buy insurance from a different carrier. (I have often needed a "cancel for work reasons" insurance due to the nature of my work.)

 

I venture to guess a lot of people don't really know what they are buying from the cruise line, until it's too late.

 

Regarding the 90% coverage, I would assume it is so the carrier knows that you won't cancel on a whim or for some frivolous reason. If you stand to lose something as well, it's more likely you will cancel only when it is absolutely necessary to do so.

 

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2 hours ago, catl331 said:

Yes, we got it posted to our HAL/Barclay card in a day or two ... but that was in normal times.  It took us about 18 months to spend that huge credit because we couldn't book another cruise for a while.

When I cancelled South America in 2017 with HALs platinum the funds (90% of fare +100% port and tax) was back on my card within the week. My credit card (With BoA) was able to transfer the sizable credit to savings account. 

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17 hours ago, victory2020 said:

Has anyone had experience with cancelling for any reason? Rep says it goes back to your credit card. Just want to make sure that is the case.

When we cancelled our recent March 22 cruise, we had the money back on our card within two days.

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On 3/14/2020 at 8:36 AM, cruiseing marly said:

They are letting you transfer the insurance to another cruise .It pays 100 percent when its covering for reason coverage. They need you to have some skin in the game. 

 

 

HAL Platinum does not cover at 100% “for a reason.”  It’s 90%. I have used it twice now. 
 

Other insurance policies MAY cover at 100% for certain qualifying reasons (ie: medical) and “Any reason” (ie: cat is sick, I decided not to go) at the contracted rate (typically 50-75%).
 

Having said that, my April cruise was cancelled and had I waited a few more hours I would have gotten the entire sum back, as HAL announced the pause that afternoon. No regrets here, as HAL had also just made it clear they were going full steam ahead, come hell or high water while other cruise lines had already paused operations. The entire refund offer was due to them cancelling, not Platinum.

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Weighing in on this discussion as we have the platinum policy for the cruise April 19th TA and Med.  Yes, we could have waited until HAL decided what was going to happen with that cruise but decided on the 8th of March to cancel.  According to our TA we will get 50% back $$, 90% of the remaining 50% $$ and the last 10% as a FCC. (We cancelled when refunds were in the 50% period, hence the calculations).  The $$$ we paid for the CFAR insurance I knew would not be returned.  The port taxes are refunded 100%.  We had HAL flight ease and that is included in the calculation of the refund. I believe (not confirmed) that the FCD we used is lost.  I sent an e to HAL with questions and received a reply quickly - any FCC will take 4-6 weeks to show up (via an e from HAL).  $$$ will be credited to the card you used to make final payment.  This is where it gets tricky - I have still not seen my refund, while others who cancelled at the same time have their refund already.  I was told - 7-14 days, then I was told 4-6 weeks, finally I was told 2-4 weeks.  So far the first timeframe is wrong - I am keeping my fingers crossed for the last one.  We have another cruise booked for September that we will also be cancelling.  Kazu cancelled the same cruise and was told a 4-6 week wait for a refund by her TA.

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