Like house insurance. Do you know if yours covers replacement value ? Do you know how much it would cost to replace your house and do you have enough coverage ? What about the content ? Your jewelry ? Your computer ? Cameras ?
What about car insurance. Do you have just the minimums ?
In reality, insurance should be compared with other insurances before you buy. Doesn't matter what kind it is !
Even Trip Cancellation Insurance. I'm not a broker, but I know the generalities. And it's valuable to know someone who does ! Just like when you buy auto or house insurance, you want someone who guides you and knows the product !
For the most part, Cruise Line Insurance does not cover pre-existing medical conditions. Pre-existing can be as simple as one's medication changing within 60 days of payment (whether it's 60 days before you put down the deposit or 60 days prior to final payment. How could you possibly know, that 60 days prior to final payment, that you won't have a medical change. Whether it's a new condition that has developed or you had to have a medication change !
Which is why, for 21 years now (2 years after I joined Cruises Inc), our company has a special designed insurance, to cover pre-existing medical coverage, because we weren't too happy with the cruise line insurance. Since then, select cruise lines, added cancel for any reason, which is where pre-existing would be labeled, and you can at least get 75-90% of your money back in a FUTURE CRUISE CREDIT. That's right, no money back ! And there's a deadline as to when you must use !
I don't offer cruise line insurance. Especially I don't recommend Carnival, cause they do not offer a cancel for any reason. And I don't offer Holland America because you don't get 100% credit, even if you cancelled the day after making a deposit. A customer has to ask me for other cruise line insurances.
Our insurance also covers weather, in case you never get to go. Most cruise lines insurance covers an amount, to get you to the next destination due to weather. This is not the same thing ! What if it snows and you can't get out of your drive way, to even get to the airport or the airport is shut down for 2-3 days ?
Now, Tour Operators have a different type coverage. Many offer, cancel for any reason and get your money back or future cruise/tour credit. However, another benefit, in our insurance; covers bankruptcy of a carrier. A Tour Operator's insurance can not cover you for this. My suggestion, is make sure your package is bought the a NAME BRAND, and even that isn't 100% guaranteed that all is well.
I don't usually push our insurance when someone wants the Cancel for Any Reason coverage, cause these Tour Operators seem to be able to offer it fairly reasonable. However, I do lay out the choices !
Do I believe in Trip Cancellation Insurance ? YES, most definitely.
The moment we began our own insurance, I began seeing it be used !
Do I offer it to every person ? YES. I don't know their medical condition, and I can't predict the future for them, no more than they can.
It is said, if you can afford to loose that travel money, then many you don't need to buy !
But Trip Cancellation Insurance is more than just for cancelling ! Most cover you, while you are on your vacation. Sickness, Accident, Emergency evacuation. And again, you need to compare coverage. Some cover $10,000, $10,000, $ 25,000. Ours covers $50,000, $50,000, $250,000.
What's worse, you seldom see a cruise line policy unless maybe you find it on their website. Not like they send you anything. We email our insurance policy to our customers.
Do I buy Trip Cancellation Insurance ? Yes. I am insurance poor !
Do I require that my roommate buy ? A couple of times, I did not. I'm not planning to let that happen again. My cruise in November, my roommate had to cancel the night prior. She did not have. Thank goodness, her only investment was a train ticket, cause our cruise was complimentary.
One more thing to know about Trip Cancellation Insurance. This insurance is a "secondary insurance". If it were not, it would be extremely high. What does secondary mean ? It means, you must first, file with your own health insurance. If it does not cover, which Medicare does not, then this secondary insurance pays. Or if your insurance pays some, this secondary then takes over, up to the amount over coverage.
Sickness and Accident and Emergency Evacuation is even more important to me than cancellation insurance. Last year, my health insurance had a $10,000 deductible, which is where my secondary insurance would have kicked in ! And the insurance I have now, does not cover me outside of Virginia, so I definitely need it.
Matter of fact, I covered my airfare though our insurance ! We can cover your airfare, even if you didn't buy the airfare from us ! The cruise line insurance can not do this ! So my April vacation, though the cruise is only a week, yet, I am covered, from the time I fly out to the time I get back ... So if I need to visit a Dr, when I am in FLA, visiting my mom, I am covered then too !
Some folks hate the added of cost of buying Trip Cancellation Insurance because they feel it was wasted money if you didn't use it ! But do as many of my customers do ... Buy it, to PROVE YOU DIDN'T NEED IT ... Kind of wards off the bad stuff ! Know what I mean ?
Another reason to buy TCI is to help you with stress. If you have it, you won't worry. If you don't, it often seems to bring on that added stress you don't need with those ... What if (questions) ?
Trip Cancellation insurance has more value than most folks know ! Plan to not leave home without it !
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