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Insurance for worst-case scenario


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This isn’t a question anyone wants to consider, but we’re about to pay for a 2022 Viking cruise, and Viking is apparently about to cancel its summer schedule. That’s a very long time for them to go without an income stream.
 

So. Does travel insurance typically cover you if the cruise company goes under? (I’m assuming it would be prudent to buy insurance from a company other than Viking at this point.) I’m obviously going to check with whatever insurance company we decide to go with but thought I’d see if anyone here had experience or knowledge of the subject.

 

If not, we’ve got some thinking to do.

 

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I researched this for a client recently.  The Viking Travelmate trip insurance DOES NOT protect you if Viking happens to go bankrupt.  See Limitations and Exclusions # 20: The policy does not cover  "Bankruptcy or Default or failure to supply services by a Travel Supplier".

 Other commercial policies specifically cover for a tour operator going out of business.  You need to read the coverage carefully.

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Thank you.  This is very helpful.  We have a December cruise for which we were able to roll over a policy from March of this year, so that’s covered.  But going forward, good to know.

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57 minutes ago, Paulswanderlust said:

I researched this for a client recently.  The Viking Travelmate trip insurance DOES NOT protect you if Viking happens to go bankrupt.  See Limitations and Exclusions # 20: The policy does not cover  "Bankruptcy or Default or failure to supply services by a Travel Supplier".

 Other commercial policies specifically cover for a tour operator going out of business.  You need to read the coverage carefully.

Thanks. That’s very helpful.

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6 hours ago, Paulswanderlust said:

I researched this for a client recently.  The Viking Travelmate trip insurance DOES NOT protect you if Viking happens to go bankrupt.  See Limitations and Exclusions # 20: The policy does not cover  "Bankruptcy or Default or failure to supply services by a Travel Supplier".

 Other commercial policies specifically cover for a tour operator going out of business.  You need to read the coverage carefully.

This information underscores the importance of working with a knowledgeable trip insurance agent. I have been told that a cruise purchased directly from Viking as opposed to purchased from a travel agent or transferred to an agent is handled differently by insurance companies in the event of default.

 

There is some good information on the CC Insurance Board. Given the amount of money we have invested in our Viking cruises, we need to do our homework!

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will insurance companies "cover" a cruise that has been paid for by "credits'... I think it is a gamble but we have just insured medical for our future cruise.  hoping Viking can survive!

 

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The only way to be sure is to actually read the specific policy that you are buying or have bought. They will be pretty clear.

Those summaries that we use to purchase May or May not cover things that we think they do, the way we think that they do.

I broke my hip in Bhutan. Just the year before, my husband fell off a horse in Mexico in the countryside two hours north of Mexico City... 

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