Cancel Travel Guard ins?

[idecor8]

Once purchased can we cancel Travel guard and go with another company for travel ins?

 

I heard that the gov't bail-out is only for their main financial companies, not subsids. like Travel Guard

 

Thanks!

[sail7seas]

No, I would not think you can cancel and get a refund. I also think you are safe staying with TravelGuard and will have coverage if you need it.

 

[uppitycats]

You can...but why would you? The company is still sound. Even if a company declares bankruptcy, that doesn't necessarily mean they're broke, and your insurance isn't any good. They're still functioning, still have cash, still will be able to pay claims, for now.

 

You would have to call them to find out if you can get your policy refunded. Usually once you've entered into a contract (with any company) you're stuck until the contract is ended.

[idecor8]

Just called them and they said I only had 15 day cancellation available.

 

They reassured me that they are seperate enough from their parent Co. so there are "no worries" about coverage and claim support.

We'll see.

[6rugrats]

Once purchased can we cancel Travel guard and go with another company for travel ins?

 

I heard that the gov't bail-out is only for their main financial companies, not subsids. like Travel Guard

 

Thanks!

 

Don't panic, Travel Guard is fine. Most people do not understand this, but once you purchase an insurance policy, even if you don't submit a claim, you are insured from the date of purchase. That means, you must pay for the entire time you are insured. You just can't cancel in the middle of a policy and expect to receive all your money back.

 

You are always free to cancel. You are just going to have to pay for it.

[sail7seas]

Don't alll of these travel policies have a brief cancellation period? During those days, you have the right to review the policy they send you. There is a firm date after which you cannot not cancel without losing the premium paid.

 

If for some reason you change which cruise you are taking, some policies will allow you to transfer the coverage to the new cruise and pay any difference in premium if the new cruise is more pricey and you need higher coverage.

[LindaKE]

Can you tell which companies allow you to transfer coverage to a different cruise or is that forbidden?

[hightownCO]

I have used Travelex on my cruises and on the policy I have now, I did change my travel date. They will not let you change the people however. When I bought this policy was going to be three of us but now just two. There's no adjustment for one of the people not traveling, ie no change in price.

[Plant]

Can you tell which companies allow you to transfer coverage to a different cruise or is that forbidden?

 

I would think that many companies would let you transfer. We've used both TravelGuard and RBC and have made changes after our first payment (at booking). I think one of them charged us $5.00 to change, but the $5.00 charge disappeared after we rebooked.

 

If you bought the insurance through a TA, check with them. If you bought it on your own, call the company.

[travelntreats]

You are not eligible to cancel and request a refund if outside of their cancellation/review timeline, but you can change dates of travel and increase the coverage if needed..... it would be silly for them to allow you to cancel and lose the income to go to another company after the grace period.