Steve, what am I missing? Why do I need insurance at all?

[miaminative0853]

Steve, What am I missing?

1) I have an annual medical policy that covers medical care in foreign countries, med evac, repatriation, etc.. (Relatively cheap and covers our multiple trips out of country)

2) During these COVID times, Celebrity my cruiseline of choice (and I presume other lines) allows us to cancel for any reason with just 48 hours notice and receive a full future cruise credit good for a year

3) My AMEX Platinum card covers lost/delayed baggage and some travel delay costs.

4) We travel out a day or two ahead of time to minimize risk of cancelled flights/missed connections etc. and (sure there is some risk here but I've always got a contingency plan)

I guess there is the risk of something happening during the 48 hour window not covered by Celebrity's current cancellation policy but that seems small compared to the cost of policy.

What am I missing that would cause me to spend approx $700-800 for my wife and I? Seems like the risk/reward analysis says dont buy it.

FYI: I went "naked" two weeks ago and things worked out; planning to go naked again in March.

What am I missing? Thanks for your thoughts.

[iamtrustworthy]

12 minutes ago, miaminative0853 said:

Steve, What am I missing?

1) I have an annual medical policy that covers medical care in foreign countries, med evac, repatriation, etc.. (Relatively cheap and covers our multiple trips out of country)

2) During these COVID times, Celebrity my cruiseline of choice (and I presume other lines) allows us to cancel for any reason with just 48 hours notice and receive a full future cruise credit good for a year

3) My AMEX Platinum card covers lost/delayed baggage and some travel delay costs.

4) We travel out a day or two ahead of time to minimize risk of cancelled flights/missed connections etc. and (sure there is some risk here but I've always got a contingency plan)

I guess there is the risk of something happening during the 48 hour window not covered by Celebrity's current cancellation policy but that seems small compared to the cost of policy.

What am I missing that would cause me to spend approx $700-800 for my wife and I? Seems like the risk/reward analysis says dont buy it.

FYI: I went "naked" two weeks ago and things worked out; planning to go naked again in March.

What am I missing? Thanks for your thoughts.

Hi miaminative0853,

 

I have a few questions:

- What are your current ages?

- Would it bother you if something bad happened to either of you and you weren't able to use your credit within the 12 month period?

- If you tested Covid positive towards the end of a trip and were quarantined, would the cost of the quarantine be something you could easily bear?

 

And, What do you mean by "I went "naked" two weeks ago and things worked out; planning to go naked again in March"?

 

Steve Dasseos

[miaminative0853]

1 hour ago, iamtrustworthy said:

Hi miaminative0853,

 

I have a few questions:

- What are your current ages?

- Would it bother you if something bad happened to either of you and you weren't able to use your credit within the 12 month period?

- If you tested Covid positive towards the end of a trip and were quarantined, would the cost of the quarantine be something you could easily bear?

 

And, What do you mean by "I went "naked" two weeks ago and things worked out; planning to go naked again in March"?

 

Steve Dasseos

1) 67 and 68

2) Not sure I understand your second question.

3) yes

Sorry, I was trying to be too cute. By "naked" I meant without insurance.  I did not purchase insurance for our recent trip and dont plan to do so for an upcoming one, unless someone can show me a compelling reason. Thanks.

 

[iamtrustworthy]

8 minutes ago, miaminative0853 said:

1) 67 and 68

2) Not sure I understand your second question.

3) yes

Sorry, I was trying to be too cute. By "naked" I meant without insurance.  I did not purchase insurance for our recent trip and dont plan to do so for an upcoming one, unless someone can show me a compelling reason. Thanks.

 

Hi miaminative0853,

 

Since you are on Medicare, or possibly TriCare, does your annual medical policy cover 100% of the costs for medical care in foreign countries? If not, what's the most you have to pay out of pocket?

 

If something bad happened to either of you and you weren't able to use your cruise line's credit within the 12 month period because you were unable to travel, would you mind it you forfeited the value of the credit?

 

Steve Dasseos

Edited January 27, 2022 by iamtrustworthy
typo

[miaminative0853]

2 minutes ago, iamtrustworthy said:

Hi miaminative0853,

 

Since you are on Medicare, or possibly TriCare, does your annual medical policy cover 100% of the costs for medical care in foreign countries? If not, what's the most you have to pay out of pocket?

 

If something bad happened to either of you and you weren't able to use your cruise line's credit within the 12 month period because you were unable to travel, would you mind it you forfeited the value of the credit?

 

Steve Dasseos

 

I carry a seperate policy that covers medical care in foreign countries.

 

Your last point is valid although I don't plan to cancel an upcoming March trip it could happen. That is a risk I hadnt considered. Again, though I dont know if it is enough of a risk to buy a policy that covers other risks for which I do not need coverage.

 

[iamtrustworthy]

3 hours ago, miaminative0853 said:

 

I carry a seperate policy that covers medical care in foreign countries.

 

Your last point is valid although I don't plan to cancel an upcoming March trip it could happen. That is a risk I hadnt considered. Again, though I dont know if it is enough of a risk to buy a policy that covers other risks for which I do not need coverage.

 

Hi miaminative0853,

 

I don't know if it's enough of a risk, but this is worth considering. Especially, if you have multiple trips in a short span of time where more than one would be in the full penalty.

 

In addition, your risk is cancelling the second cruise that is booked with future cruise credits for a prior cancellation. That's because those future cruise credits are not insurable.

 

Steve Dasseos

[call_your_mother]

Hi Steve

 

My husband & I are in a debate as to get Travel Insurance or not.  We are 68 & 69, have Medicare & United Healthcare and used the Sapphire Preferred to book the cruise.  In 2022, we have a 14 day in February to the Mexican Riviera , a 25 day in April (TA & Baltic), a September cruise (currently not sure of the destination) and a 32 day in Dec to So. America/Antarctica. 

 

1)  Will our Sapphire Preferred be enough coverage for medical expenses, etc?

2)  If we decide to purchase travel insurance, should we purchase coverage for the year or individually?

3) Does it matter when we booked our trips?

 

We've had coverage for our cross country trips with our fifth-wheel and got burned by the insurer of what we had/didn't have in coverage when it came time to submit a claim.  It cost us dearly.

 

What are your thoughts?  

 

FYI . . . I am a cross every "t" & dot every "i" person and my husband is very frugal.

 

Thanks in advance for your advice.

 

Sherri & Bill

[miaminative0853]

11 hours ago, iamtrustworthy said:

Hi miaminative0853,

 

I don't know if it's enough of a risk, but this is worth considering. Especially, if you have multiple trips in a short span of time where more than one would be in the full penalty.

 

In addition, your risk is cancelling the second cruise that is booked with future cruise credits for a prior cancellation. That's because those future cruise credits are not insurable.

 

Steve Dasseos

Interesting. So if you book a cruise with FCC its not insurable? Why would an insurance company care? Thanks for your insights.

[iamtrustworthy]

34 minutes ago, miaminative0853 said:

Interesting. So if you book a cruise with FCC its not insurable? Why would an insurance company care? Thanks for your insights.

You can insure a FCC under certain circumstances. One factor is who caused the cruise to be cancelled. Either the cruise line cancels or the customer cancels.

 

With my plans, if you had a trip cancellation policy on a cruise and you cancelled that cruise, you could change the dates on the policy to the rescheduled cruise as long as you notify us about the cancelled cruise before your original departure date and you're not filing a claim.

 

What you need to find out from the cruise line is how they account for the FCC on the new cruise. If it shows up as a discount or promo, it won't be insurable. It's possible you could insure it with the cruise line, but if they tell you that, make sure you get it in writing.

 

How to use FCCs is complicated. I explained this in much greater detail during the June & July 2020 Q & A I did here at CruiseCritic. I also explain it on TripInsuranceStore.com in a few places.

 

Steve Dasseos

Edited January 27, 2022 by iamtrustworthy
typo

[iamtrustworthy]

4 hours ago, miaminative0853 said:

Why would an insurance company care?

An insurance company care probably doesn't care because you may insure any trip cost you wish.

 

I care because if I'm going to sell someone a policy, I want to be sure that their claim will get paid. If I don't think it will get paid, I won't sell the policy.

[iamtrustworthy]

15 hours ago, call_your_mother said:

Hi Steve

 

My husband & I are in a debate as to get Travel Insurance or not.  We are 68 & 69, have Medicare & United Healthcare and used the Sapphire Preferred to book the cruise.  In 2022, we have a 14 day in February to the Mexican Riviera , a 25 day in April (TA & Baltic), a September cruise (currently not sure of the destination) and a 32 day in Dec to So. America/Antarctica. 

 

1)  Will our Sapphire Preferred be enough coverage for medical expenses, etc?

2)  If we decide to purchase travel insurance, should we purchase coverage for the year or individually?

3) Does it matter when we booked our trips?

 

We've had coverage for our cross country trips with our fifth-wheel and got burned by the insurer of what we had/didn't have in coverage when it came time to submit a claim.  It cost us dearly.

 

What are your thoughts?  

 

FYI . . . I am a cross every "t" & dot every "i" person and my husband is very frugal.

 

Thanks in advance for your advice.

 

Sherri & Bill

Hi Sherri & Bill,

 

> Does it matter when we booked our trips?

 

It might. Do either of you, any traveling companions or your non-traveling family members, have or recently had any medical conditions, or had any medication changes for a medical condition, that could worsen and, in turn, cause you to cancel or interrupt your trip? Or that could cause you to seek treatment on your trip?

 

 

> Will our Sapphire Preferred be enough coverage for medical expenses, etc?

 

Are you covered by Medicare with a supplement you bought on your own or on a former employers' retiree health plan? Or do you have Advantage plans? Or have TriCare?

 

> If we decide to purchase travel insurance, should we purchase coverage for the year or individually?

 

The answer partly depends on the answers to the above questions.

 

Steve Dasseos

[noisycharlie]

Hello

A few years ago while on a cruise I suffered a stroke.  This was Thursday nite.

At that time we did no have travel insurance.  Thanks goodness  on Sat,  we were in Fort Lauderdale.  

I was sent by   to Broward Hospital which was covered by my insurance company.   The ambulance was not.  Why I do not know. The ship billing was not.  The ship billing was quite costly.  Now we never travel without it.  If you can afford a cruise you can afford the insurance.  Why take a chance?

[call_your_mother]

On 1/27/2022 at 5:45 PM, iamtrustworthy said:

Hi Sherri & Bill,

 

> Does it matter when we booked our trips?

 

It might. Do either of you, any traveling companions or your non-traveling family members, have or recently had any medical conditions, or had any medication changes for a medical condition, that could worsen and, in turn, cause you to cancel or interrupt your trip? Or that could cause you to seek treatment on your trip? -

 

 

> Will our Sapphire Preferred be enough coverage for medical expenses, etc?

 

Are you covered by Medicare with a supplement you bought on your own or on a former employers' retiree health plan? Or do you have Advantage plans? Or have TriCare?

 

> If we decide to purchase travel insurance, should we purchase coverage for the year or individually?

The answer partly depends on the answers to the above questions.

 

Steve Dasseos

me

Hi Steve . . .

 

>  We are 68 & 69 so we do have medical issues but nothing we could foresee happening to have the need to cancel and no changes in medications. 

>  Yes we have Medicare and United Health from employer's retiree health plan (a very generous plan)

 

Our plans have changed a bit, we will be flying to Las Vegas for 4 nights hotel stay; flying to LAX with 2 nights hotel in San Pedro then get on the ship for 10 days.  When we return from our cruise we will fly back to Las Vegas, stay in a hotel a few days and drive back to NC with a rented U-Haul truck.  In April we have a 25 day cruise leaving from FLL and ending in Copenhagen; we will stay in CPH for 4 days and fly back to NC.

 

We are planning a cruise in September then in December we fly back to LAX and cruise to Antarctica disembarking in Buenos Aires for a 2 night hotel stay and fly back to NC.  In March of 2023 we fly from NC to LAX for a 28 day cruise to Tahiti disembarking in LA and a flight back to NC.

 

Will our Medical coverage & Sapphire Preferred coverage be enough for us?

 

Should we get individual travel insurance policies or take a yearly plan?  

 

It really just hit me listing all the travels planned, we spent a lot of money to take chances with each travel itinerary . . . but I want the right policy. The policy needs to be able to pay us if we need to place a claim.  

 

Like what you said to miaminative0853 "I care because if I'm going to sell someone a policy, I want to be sure that their claim will get paid. If I don't think it will get paid, I won't sell the policy."

 

Sherri

Edited January 31, 2022 by call_your_mother

[iamtrustworthy]

22 hours ago, call_your_mother said:

It really just hit me listing all the travels planned, we spent a lot of money to take chances with each travel itinerary . . . but I want the right policy. The policy needs to be able to pay us if we need to place a claim.  

Hi Sherri,

 

Since Covid began, I haven't found a good annual Trip Cancellation plan from a company I would trust. I'd like to find one.

 

Besides protecting against a financial loss from having to cancel or interrupt your trip, do you have any specific risks you want covered?

 

For example, many people I talk with want to be sure they are covered for the costs if they are medically quarantined due to a positive Covid test. Others who are in good health have non-traveling family members that do have medical conditions that could affect their trip.

 

Steve Dasseos

 

 

[Suzanne123]

Hi Steve,

So, is there a travel insurance that would cover quarantine hotel and food expenses in Europe if you test positive prior to returning to the states? Wouldn’t your insurance coverage end on the date you submitted as the original end date of the trip?

Thanks

[Suzanne123]

Sorry.  I found the answer to my question in your blog. Thanks anyway.

[iamtrustworthy]

2 hours ago, Suzanne123 said:

Sorry.  I found the answer to my question in your blog. Thanks anyway.

Hi Suzanne123,

 

Let me know if you have any other questions.

 

Steve Dasseos

[call_your_mother]

On 1/31/2022 at 11:49 PM, iamtrustworthy said:

Hi Sherri,

 

Since Covid began, I haven't found a good annual Trip Cancellation plan from a company I would trust. I'd like to find one.

 

Besides protecting against a financial loss from having to cancel or interrupt your trip, do you have any specific risks you want covered?

 

For example, many people I talk with want to be sure they are covered for the costs if they are medically quarantined due to a positive Covid test. Others who are in good health have non-traveling family members that do have medical conditions that could affect their trip.

 

Steve Dasseos

 

 

 

Steve . . . Think it would be best to talk on the phone, what's the phone number and best time to call?  We are on the east coast in NC.

[iamtrustworthy]

1 hour ago, call_your_mother said:

 

Steve . . . Think it would be best to talk on the phone, what's the phone number and best time to call?  We are on the east coast in NC.

Hi Sherri,

 

1-888-407-3854. After 10:30 am Central is best for me. And, we're open weekends.

 

Steve Dasseos

[Benthayer Gonbak]

On 1/26/2022 at 8:05 PM, miaminative0853 said:

 

I carry a seperate policy that covers medical care in foreign countries.

 

Your last point is valid although I don't plan to cancel an upcoming March trip it could happen. That is a risk I hadnt considered. Again, though I dont know if it is enough of a risk to buy a policy that covers other risks for which I do not need coverage.

 

My Dad was of the philosophy that he could save the insurance costs which would ultimately pay for the losses, but he didn’t normally do much more than the Caribbean.  His previous cruises, to foreign ports, were all on grey ships!    He has no serious medical issues.  For us after hubby had heart surgery it seemed prudent to cover the costly trips, at least.   We’ve collected twice but are not ahead  in the bet of whether you’d pay more in insurance totals, we have.  
 

like you most of our medical is covered overseas and the cap is reasonable but the cost of airlift, my agents pet fear, still is outlandish.  
 

For what it is worth, we had 2 cruise booked on Crystal!  One in April and one in 2023.  We expect a clean refund, but consider what’s happening on the Serenity, the 119 day world cruise, money is supposedly in escrow until the cruise sails … 

[miaminative0853]

On 2/4/2022 at 2:24 AM, Benthayer Gonbak said:

My Dad was of the philosophy that he could save the insurance costs which would ultimately pay for the losses, but he didn’t normally do much more than the Caribbean.  His previous cruises, to foreign ports, were all on grey ships!    He has no serious medical issues.  For us after hubby had heart surgery it seemed prudent to cover the costly trips, at least.   We’ve collected twice but are not ahead  in the bet of whether you’d pay more in insurance totals, we have.  
 

like you most of our medical is covered overseas and the cap is reasonable but the cost of airlift, my agents pet fear, still is outlandish.  
 

For what it is worth, we had 2 cruise booked on Crystal!  One in April and one in 2023.  We expect a clean refund, but consider what’s happening on the Serenity, the 119 day world cruise, money is supposedly in escrow until the cruise sails … 

It took me a minute (actually more than a minute) to figure out your "grey ship" reference. LoL. My father also travel abroad on grey ships  -- in both in the Pacific and the Atlantic during WWII. Thanks to your dad for his service.

 

On the insurance topic, of course everyone's circumstances are different and even then they can change from trip to trip. There are times when insurance makes sense to me and others when it frankly doesnt. I just don't buy into this concept that everyone must have travel insurance and that the pandemic has made it more necessary. I just dont think it is always the case. 

 

Still shaking my head that I didnt get the grey ship thing on first read!

[Benthayer Gonbak]

4 hours ago, miaminative0853 said:

It took me a minute (actually more than a minute) to figure out your "grey ship" reference. LoL. My father also travel abroad on grey ships  -- in both in the Pacific and the Atlantic during WWII. Thanks to your dad for his service.

 

On the insurance topic, of course everyone's circumstances are different and even then they can change from trip to trip. There are times when insurance makes sense to me and others when it frankly doesnt. I just don't buy into this concept that everyone must have travel insurance and that the pandemic has made it more necessary. I just dont think it is always the case. 

 

Still shaking my head that I didnt get the grey ship thing on first read!

 

🤭😂   I probably should have said battleship grey!   As for insurance some ports were requiring proof of COVId coverage.  I had a friend that did a year policy that basically just cover that, it was a reasonable cost.  I agree the circumstances are different and some are more able to handle risks than others.  Of course the ones that are higher cost have insurance costs to match. 
 

My travel agents had someone who had to be airlifted from Europe,  at about $300,000!  Another client had to cancel last minute on an expensive cruise.  She had bet she wouldn’t get sick rather than she could handle the loss.  

i used to be a counselor for wilderness canoe trips.  I rarely worried about how I’d get out although I was concerned about the kids at one point. 
 

 

 

[miaminative0853]

53 minutes ago, Benthayer Gonbak said:

 

🤭😂   I probably should have said battleship grey!   As for insurance some ports were requiring proof of COVId coverage.  I had a friend that did a year policy that basically just cover that, it was a reasonable cost.  I agree the circumstances are different and some are more able to handle risks than others.  Of course the ones that are higher cost have insurance costs to match. 
 

My travel agents had someone who had to be airlifted from Europe,  at about $300,000!  Another client had to cancel last minute on an expensive cruise.  She had bet she wouldn’t get sick rather than she could handle the loss.  

i used to be a counselor for wilderness canoe trips.  I rarely worried about how I’d get out although I was concerned about the kids at one point. 
 

 

 

Like your friend, I too bought an annual medical policy with med evac for foreign travel. Covers evac up to $500k. And it meets many port requirements. Very reasonably priced.

[Benthayer Gonbak]

1 hour ago, miaminative0853 said:

Like your friend, I too bought an annual medical policy with med evac for foreign travel. Covers evac up to $500k. And it meets many port requirements. Very reasonably priced.

I’d be interested in which one you used.  My health care is pretty much covered so I’d love to find a better option. 

[iamtrustworthy]

4 hours ago, miaminative0853 said:

Like your friend, I too bought an annual medical policy with med evac for foreign travel. Covers evac up to $500k. And it meets many port requirements. Very reasonably priced.

Mi miaminative0853,

 

Which annual medical policy did you buy?

 

Steve Dasseos