Trip insurance if cruise canceled

[dszrew]

was planning on getting trip insurance for our next cruise, but wondered about what happens if the cruise is cancelled, can I get a refund for the trip insurance? it seems Oceania would refund trip insurance if purchased through them? but what about a third party company? I've heard in some cases the insurance can be transferred to another trip but I'm not interested in that.

[Babr]

It depends on the company or perhaps the laws regulating insurance in your state, but for the most part insurance premiums for third-party policies are not refundable  after the free examination period, usually 10 days or so after purchase. Many have had success moving the coverage to another cruise to be taken within a year or two, but that may be of no value to you if you don’t plan to cruise in that time frame.

[Flatbush Flyer]

16 minutes ago, dszrew said:

was planning on getting trip insurance for our next cruise, but wondered about what happens if the cruise is cancelled, can I get a refund for the trip insurance? it seems Oceania would refund trip insurance if purchased through them? but what about a third party company? I've heard in some cases the insurance can be transferred to another trip but I'm not interested in that.

all depends on the actual insurance company. We have one policy (purchased through a broker) that has already been moved to two different cruises (the first two cancelled by the cruise line). As for a refund, ask before you purchase.

[tipsygirl]

Definitely read the fine print on refunds. I have a policy I purchased for a cruise that was scheduled for 2019 that I purchased in 2018. I tried to get a refund when the trip was cancelled. The company replied that it was “no longer giving refunds”,but I could move the insurance to another cruise. I have now moved it twice. The cost of each of these cruises was less than the cost of the original cruse, with the last one being lower than the second one. I was given a refund for the differences in price to cover each cruise. So I have gotten some of my money back. 

[Host Jazzbeau]

My TA sells a policy from Allianz that offers much better protection than most of those I read about here.

•  Pre-existing illness waiver as long as you book the policy before FINAL payment; or you can take the minimum coverage at deposit to lock in all coverage and prices and then raise as you go along [never costs more cumulatively and stretches out payments]

•  Roll over policy to a future trip if YOU or the cruise line cancel [NYS residents can also get money back; not sure which other states this would work for]

•  Allianz has voluntarily added Covid coverage to all current policies [even those already bought]

[mexicobob]

On 12/19/2021 at 4:34 PM, Host Jazzbeau said:

My TA sells a policy from Allianz that offers much better protection than most of those I read about here.

•  Pre-existing illness waiver as long as you book the policy before FINAL payment; or you can take the minimum coverage at deposit to lock in all coverage and prices and then raise as you go along [never costs more cumulatively and stretches out payments]

•  Roll over policy to a future trip if YOU or the cruise line cancel [NYS residents can also get money back; not sure which other states this would work for]

•  Allianz has voluntarily added Covid coverage to all current policies [even those already bought]

Thank you for this information as I was wondering if the policy from Allianz that my TA offered was a good deal. Was going to make a decision tomorrow so great timing. 

[Flatbush Flyer]

1 hour ago, mexicobob said:

Thank you for this information as I was wondering if the policy from Allianz that my TA offered was a good deal. Was going to make a decision tomorrow so great timing. 

Call insuremytrip.com and compare to what they’ve got from Allianz that has, at least, the same coverages. Compare the costs. Also ask if the coverage limits are adequate for your needs. 

[Host Jazzbeau]

47 minutes ago, Flatbush Flyer said:

Call insuremytrip.com and compare to what they’ve got from Allianz that has, at least, the same coverages. Compare the costs. Also ask if the coverage limits are adequate for your needs. 

You might also want to ask them why they don't list Allianz policies.  Seems like a hole in their coverage.

[Homerody]

For 5 trips over the past 2 years - 4 cruise, 1 land, our third party insurer gave us a refund on land trip and allowed us to "preserve" the premium for the others.  Basically holding the premium as a credit to be used for another trip within 24 months.  With the help of our insurance agent, we successfully reused all our premiums.

 

Unfortunately we will be making a claim on one policy as O cancelled sailing 4 days before embarkation and we started our trip before that.  But that is going off on a tangent.

Edited January 16, 2022 by Homerody

[Redtravel]

Allianz has been excellent at moving my insurance multiple times.  However, there is a limit. After approximately 700 days, they cannot move it again. They refund your premium.  Got a refund and then bought insurance for my next possible cruise.  Before pandemic, we traveled often. We had yearly policies.  With the pandemic, it seemed prudent to just buy a policy for single voyage that could be reassigned.  If things improve and we start traveling like before the pandemic, ,I can get Allianz to refund our new policy and buy a yearly policy.  As long as request before your travel dates, Allianz will move the coverage. 

[ohmark]

If anybody has info to share on which company's policies insure against the cruise company going out of businsess/bankruptcy, would be good to know. Used to be many policies did, with the general exception of the cruise company's own policy. Now this coverage is more difficult to find.  Thanks.

[Host Jazzbeau]

4 minutes ago, ohmark said:

If anybody has info to share on which company's policies insure against the cruise company going out of businsess/bankruptcy, would be good to know. Used to be many policies did, with the general exception of the cruise company's own policy. Now this coverage is more difficult to find.  Thanks.

Allianz:  https://www.allianztravelinsurance.com/about/covered-suppliers.htm

 

The list is dated December 28, 2021 – and Crystal isn't on it [but Oceania is]

[ohmark]

53 minutes ago, Host Jazzbeau said:

Allianz:  https://www.allianztravelinsurance.com/about/covered-suppliers.htm

 

The list is dated December 28, 2021 – and Crystal isn't on it [but Oceania is]

Thanks; valuable info. Important for people to know that rarely (never?) does the cruise line's own insurance include this coverage.

Any other (trip) insurance companies with this coverage?

[Babr]

10 minutes ago, ohmark said:

Thanks; valuable info. Important for people to know that rarely (never?) does the cruise line's own insurance include this coverage.

Any other (trip) insurance companies with this coverage?

Nationwide, Berkshire Hathaway, IMG are a few. They are pretty easy to find on the websites that sell travel insurance from many companies. Once you get results based on your search details, click on the view details button to look for financial default or bankruptcy.

 

Two things to know:

 

It is a time sensitive purchase in relation to your initial deposit, and there may be a waiting period depending on the policy.

 

Financial default means the cruise line must cease all operations without intention of restarting. Bankruptcy means the company is pausing to restructure. They are not interchangeable terms. Check the language of the policy to see if it covers one or both situations.

 

[jazznruby]

1 hour ago, ohmark said:

Thanks; valuable info. Important for people to know that rarely (never?) does the cruise line's own insurance include this coverage.

Any other (trip) insurance companies with this coverage?

U.S. Fire. Good company, good policies.

[Babr]

U S Fire is an underwriter of policies sold by companies like Seven Corners and others.