Trip Cancellation Insurance.

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pablolo
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Trip Cancellation Insurance.

Post by pablolo » Thu Aug 10, 2017 9:33 am

We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?

neilpilot
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Re: Trip Cancellation Insurance.

Post by neilpilot » Thu Aug 10, 2017 9:36 am

pablolo wrote:We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?
Never insure my travel. I view it as a loss leader, with extremely high margin for the insurer.

ResearchMed
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Re: Trip Cancellation Insurance.

Post by ResearchMed » Thu Aug 10, 2017 9:41 am

pablolo wrote:We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?
We use insurance we purchase through a broker (no extra charge) because we don't always need the exact same coverage.

We use http://www.TripInsuranceStore.com
(but please CALL them, and don't just use the online policy summaries, as the "fine print" really matters with insurance).

A few things to keep in mind and double check:
-- Do you need coverage for pre-existing medical conditions, and how does the policy define that (this could be for medical expenses and/or for cancellation);
-- Do you want a Cancel For Any Reason (CFAR) coverage;
-- Do you have family members NOT traveling, who might get ill and you would want to return or cancel prior to leaving;
-- Do you have medical coverage where you will be or do you need this policy to include this;
-- Would you get "cash" if cancellation, or just a "credit" of some sort?

The "pre-existing condition" issue is one of the "gotchas" that is reported on CruiseCritic.com - where there is an excellent subforum on just Travel Insurance, so you might also read there.

If it matters, we've had two large claims with Travel Insured (purchased through TripInsuranceStore), and they were paid with no nonsense.
Obviously, appropriate documentation needed to be submitted.

RM
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barnaclebob
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Re: Trip Cancellation Insurance.

Post by barnaclebob » Thu Aug 10, 2017 9:42 am

What are you insuring against that would prevent you from going on a majority of this trip? Bad weather? That will only cost you a day or two, no big deal. Death in the non immediate family? Maybe a couple days too? Parent on their deathbed? Maybe that deserves some insurance... New serious illness to your or your spouse? I wouldn't want to bet on it and the vacation money would be the last of my concerns if it happened.

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DaftInvestor
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Re: Trip Cancellation Insurance.

Post by DaftInvestor » Thu Aug 10, 2017 9:49 am

We priced it out a couple of times and never purchased it as it always seemed a bit expensive for what we are getting. At this point - with the savings we've had throughout the years - if I had to miss a vacation or re-book flights to get home early from a vacation - we have come out ahead. Sounds like ResearchMed has bought and used it though so perhaps others with personal or close-family illness or other risks might benefit (while the rest of us would be merely subsidizing them).

(There seems to be insurance for everything these days - My daughters college tried to sell us "Tuition Insurance" which also seemed expensive for what it was. They seemed to be pushing it really hard making me think they must be getting kick-backs).

Da5id
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Re: Trip Cancellation Insurance.

Post by Da5id » Thu Aug 10, 2017 9:58 am

pablolo wrote:We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?
Chase Sapphire Reserve offers some for free. See here https://www.chase.com/card-benefits/sap ... rve/travel

RudyS
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Re: Trip Cancellation Insurance.

Post by RudyS » Thu Aug 10, 2017 10:20 am

How much of the trip is not refundable? What is the cancellation penalty on the rental? Air fare might offer change for a couple hundred dollars. I'd try to calculate what exactly I'm insuring against and balance against the premium.

Da5id
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Re: Trip Cancellation Insurance.

Post by Da5id » Thu Aug 10, 2017 10:23 am

RudyS wrote:Is this a tour? How much of the trip is not refundable? Air fare might offer change for a couple hundred dollars. Are you booking hotels? Cancellation deadline? I'd try to calculate what exactly I'm insuring against and balance against the premium.
You also are insuring against the tour operator folding. Happened to my parents (Cruise West). I think they recovered from credit card company but still it is a risk...

But yes, the premium is often kind of high. Which makes sense, people who feel like their trip is at risk of cancellation are generally the ones choosing to buy insurance.

Iliketoridemybike
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Re: Trip Cancellation Insurance.

Post by Iliketoridemybike » Thu Aug 10, 2017 10:25 am

We buy trip insurance if traveling overseas where our health policies do not cover. The trip policies include cancellation insurance. Having seen at least a couple instances of overseas injuries, I HIGHLY recommend trip insurance when traveling abroad.

MidwestMike
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Re: Trip Cancellation Insurance.

Post by MidwestMike » Thu Aug 10, 2017 10:30 am

Iliketoridemybike wrote:We buy trip insurance if traveling overseas where our health policies do not cover. The trip policies include cancellation insurance. Having seen at least a couple instances of overseas injuries, I HIGHLY recommend trip insurance when traveling abroad.
Please provide a link. Thanks.

Iliketoridemybike
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Re: Trip Cancellation Insurance.

Post by Iliketoridemybike » Thu Aug 10, 2017 10:38 am

MidwestMike wrote:
Iliketoridemybike wrote:We buy trip insurance if traveling overseas where our health policies do not cover. The trip policies include cancellation insurance. Having seen at least a couple instances of overseas injuries, I HIGHLY recommend trip insurance when traveling abroad.
Please provide a link. Thanks.
There are a lot of options. This is one company that we are using for a trip to Ireland this Fall.

https://www.sevencorners.com/get-your-p ... 0-%20Exact

bluebolt
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Re: Trip Cancellation Insurance.

Post by bluebolt » Thu Aug 10, 2017 11:08 am

I have used Travel Guard in the past.

MedJetAsisst is interesting - you can buy just medical evacuation insurance. The difference between this and other similar insurance is that you can exercise the option to use this if you get admitted to the hospital. Other med-evac insurance typically requires a physician's order to evacuate you.

If you choose to buy any type of travel insurance, take the time to read the fine print. There are always exceptions/things they won't cover and you need to be aware before you purchase.

IMO
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Re: Trip Cancellation Insurance.

Post by IMO » Thu Aug 10, 2017 11:55 am

Having a significant history of last minute changes work related schedules that require trip plans changes, we do the following on trips:

Airfare: For most flights, we fly Southwest and thus the flight funds can be cancelled and reused within 1 yr, even last minute if necessary. On most recent non-Southwest flight, a $100 fee was offered to insure 3 flights costing $1600 which was reasonable to us.
Hotels: Use booking.com via Southwest site and don't get any non-cancellable rooms. Typically have 1-2 days ahead of trip to cancel, if necessary without any penalty. Often the penalty if one didn't cancel in time is reasonable, as it would cost 1 night of unused lodging.
VRBO Lodging: Have purchased the offered insurance. Has trip delay, coverage for someone getting ill (but not cancel for any reason, etc) and couple other things. So far, it hasn't needed to be used, but it doesn't seem an outrageous amount .
Cars: Haven't found a site that doesn't allow no-penalty cancellation.

The above works well for US travel, but I'm not sure how it would work other places.

yolli71
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Re: Trip Cancellation Insurance.

Post by yolli71 » Thu Aug 10, 2017 12:05 pm

We book ours through USAA (they have an arrangement with Travel Insured International). We actually just used ours earlier this year. We had a family vacation to the Caribbean planned in April and we missed our connecting flight due to bad weather. The next flight out was going to be in 2.5 days, so we cancelled our trip. We ended up getting our entire $4,800 back (cost for flight and resort).

My parents booked a trip to Israel 2 years ago and also used USAA for their travel insurance. A couple of days before their departure, my grandmother passed away. My parents cancelled their trip and were refunded 10k by the insurance company.

We tend to buy travel insurance because we have young kids, so you never know if one of them will get sick. I agree that I would buy travel insurance every time if I were traveling internationally. Traveling domestically would probably be a case by case basis for me.

mbres60
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Re: Trip Cancellation Insurance.

Post by mbres60 » Thu Aug 10, 2017 12:35 pm

If traveling out of the US I highly recommend trip insurance. Seems expensive if you don't use it but if you need it..... then it was a great buy. I too recommend tripinsurancestore.com. Call them and they will help you pick the best policy for you. No extra charge for buying through them as opposed to buying directly with the company. Better to talk with someone knowledgeable about the insurance they sell.

Many people think they don't need it because their young or their health is fine. However, there are many instances where people have become suddenly ill... appendicitis, broken bone, etc. These things can be quite costly and many people's health insurance does not cover out of the country.

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climber2020
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Re: Trip Cancellation Insurance.

Post by climber2020 » Thu Aug 10, 2017 12:52 pm

Trip cancellation coverage is only a small part of trip insurance. You can buy medical and evacuation coverage without getting insurance for cancellation. Adding cancellation coverage will increase your total cost substantially, and I've never felt it was worth the cost.

If I'm going someplace remote, then I'll buy adequate medical coverage, including a large amount to cover a medical evacuation. These components by themselves are inexpensive.

Almost there
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Re: Trip Cancellation Insurance.

Post by Almost there » Thu Aug 10, 2017 4:53 pm

Last year I traveled to Germany via American Airlines at a cost of $700. When I got to the airport in Cologne, I saw that my flight to Munich was cancelled with no alternatives given. I went to the Lufthansa counter and purchased a replacement for $400 (one way).

After I returned home, contacted AA and they sent me $130. I then contacted Allianz Travel Insurance (which cost me $50), told them what happened and emailed them all the necessary documentation. They sent me a check for the difference of the Lufthansa flight and the $130
I received from AA. I always purchase flight insurance for overseas flights. Well worth the money.

tibbitts
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Re: Trip Cancellation Insurance.

Post by tibbitts » Thu Aug 10, 2017 6:27 pm

When I travel within the US on just a trip with no organized or precisely scheduled activities, I don't buy insurance, although my health insurance is only in-network at home, so I do take that risk. When I buy a more complicated trip like a cruise, maybe outside the U.S., I buy insurance because little problems can result in huge expenses, and I've experienced that.

pablolo
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Re: Trip Cancellation Insurance.

Post by pablolo » Thu Aug 10, 2017 6:53 pm

We are driving to Florida in February and rented a house for 7 weeks thru VRBO (home away) for for $7400. This is covered 100% until nov.30 after November 30 we want to get trip cancellation insurance for peace of mind. We don't need health insurance.

michaeljc70
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Re: Trip Cancellation Insurance.

Post by michaeljc70 » Thu Aug 10, 2017 7:20 pm

neilpilot wrote:
pablolo wrote:We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?
Never insure my travel. I view it as a loss leader, with extremely high margin for the insurer.
+1. I guess if I was older and had medical issues that could keep me from going on a trip, I might reconsider.

michaeljc70
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Re: Trip Cancellation Insurance.

Post by michaeljc70 » Thu Aug 10, 2017 7:22 pm

Almost there wrote:Last year I traveled to Germany via American Airlines at a cost of $700. When I got to the airport in Cologne, I saw that my flight to Munich was cancelled with no alternatives given. I went to the Lufthansa counter and purchased a replacement for $400 (one way).

After I returned home, contacted AA and they sent me $130. I then contacted Allianz Travel Insurance (which cost me $50), told them what happened and emailed them all the necessary documentation. They sent me a check for the difference of the Lufthansa flight and the $130
I received from AA. I always purchase flight insurance for overseas flights. Well worth the money.
Isn't the insurance for if YOU (not the airline) have to cancel? Shouldn't AA (or whoever cancelled the flight) been responsible?

Almost there
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Re: Trip Cancellation Insurance.

Post by Almost there » Thu Aug 10, 2017 7:37 pm

Though I purchased my flight through AA, the flight that was cancelled was by Air Berlin. AA originally didn't want anything to do with the cancellation until I pointed out that they not me had chosen that airline. Will never do that again. Live and learn.

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Cycle
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Re: Trip Cancellation Insurance.

Post by Cycle » Thu Aug 10, 2017 7:49 pm

Da5id wrote:
pablolo wrote:We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?
Chase Sapphire Reserve offers some for free. See here https://www.chase.com/card-benefits/sap ... rve/travel
We also use the CSR. It covers medical evacuation, which is the one thing that may be worth insuring if you don't have 50-100k in liquid assets sitting around and you are going to be driving or participating in risky activities. We don't buy travel insurance beyond what is included with the CC. Our investing strategy states: "To reduce risk of debt, insurance will be carried, but only for unaffordable potential losses and with the highest deductible that can be afforded."

Iliketoridemybike
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Re: Trip Cancellation Insurance.

Post by Iliketoridemybike » Thu Aug 10, 2017 7:54 pm

gloss151 wrote:
Da5id wrote:
pablolo wrote:We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use?
Chase Sapphire Reserve offers some for free. See here https://www.chase.com/card-benefits/sap ... rve/travel
We also use the CSR. It covers medical evacuation, which is the one thing that may be worth insuring if you don't have 50-100k in liquid assets sitting around and you are going to be driving or participating in risky activities. We don't buy travel insurance beyond what is included with the CC. Our investing strategy states: "To reduce risk of debt, insurance will be carried, but only for unaffordable potential losses and with the highest deductible that can be afforded."
My mother in law broke her leg on a cruise. Hospitalized in Croatia. My father in law had to wire $60,000 to get her out of the hospital and transported back to the states. Eventually out of pocket was only $500 because he bought a travel policy. Crap happens.
Last edited by Iliketoridemybike on Thu Aug 10, 2017 9:44 pm, edited 1 time in total.

Naismith
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Re: Trip Cancellation Insurance.

Post by Naismith » Thu Aug 10, 2017 8:08 pm

Credit card coverage is great for us, but look closely at the definition of "immediate family." For both of our cards, that definition does not include elders who do not live with us.

Since we would want to cancel a trip if a parent became ill, we buy insurance for international travel.

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GerryL
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Re: Trip Cancellation Insurance.

Post by GerryL » Thu Aug 10, 2017 8:46 pm

Appreciate this discussion. When I travel with Road Scholar I sign up for their travel insurance option since I am 1) signing up many month ahead of the trip and 2) I am long past being a "young invincible."

RS is now changing their offering to a Cancel For Any Reason policy that will cost quite a bit more. I want to look around at other insurance options, so this thread is useful for the pointers and discussion. My brother (older) and his wife (even older) have had some significant medical issues on recent cruises, and their trip insurance was worth the expense. When I get back from my upcoming trip (next month) I will start studying the issue, beginning with the links in this thread.

madbrain
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Re: Trip Cancellation Insurance.

Post by madbrain » Thu Aug 10, 2017 11:28 pm

barnaclebob wrote:New serious illness to your or your spouse? I wouldn't want to bet on it and the vacation money would be the last of my concerns if it happened.
It doesn't need to be a very serious illness to stop you from vacationing . A flu can prevent you from traveling. Even young people get that !
And if you are not insured and still choose to travel, you will put a lot of other passengers at risk as well. I would never consider booking any travel without some kind of cancellation insurance. Currently I rely on the Chase Sapphire Reserve, and haven't had to utilize their coverage, but we have only taken 2 major trips. I have gotten over $10,000 in refunds for medical cancellations with Allianz previously.

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gasdoc
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Re: Trip Cancellation Insurance.

Post by gasdoc » Fri Aug 11, 2017 4:20 pm

No travel insurance, ever.

gasdoc

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tennisplyr
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Re: Trip Cancellation Insurance.

Post by tennisplyr » Fri Aug 11, 2017 4:24 pm

Just booked a cruise with Citibank credit card and have coverage.
Those who move forward with a happy spirit will find that things always work out.

Cheesecakelady
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Re: Trip Cancellation Insurance.

Post by Cheesecakelady » Fri Aug 11, 2017 7:22 pm

Naismith wrote:Credit card coverage is great for us, but look closely at the definition of "immediate family." For both of our cards, that definition does not include elders who do not live with us.

Since we would want to cancel a trip if a parent became ill, we buy insurance for international travel.
Per my Chase Sapphire Preferred Guide to Benefits, "Immediate Family Member, means your Spouse or Domestic Partner and their children, including adopted children or step-children; legal guardians or wards; siblings or siblings-in-law; parents or parents-in-law; grandparents or grandchildren; aunts or uncles; nieces or nephews."

I can't find anything that stipulates they must live with you. This was one of the reasons I chose this particular card. So far, the travel benefits have been very good for our circumstances.

c.coyle
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Re: Trip Cancellation Insurance.

Post by c.coyle » Fri Aug 11, 2017 7:40 pm


Billionaire
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Re: Trip Cancellation Insurance.

Post by Billionaire » Fri Aug 11, 2017 7:45 pm

My Visa card provides travel insurance for $5000.00 per person per year for zero cost. You just need to book your travel using the card.

Yossarian
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Re: Trip Cancellation Insurance.

Post by Yossarian » Sat Aug 12, 2017 1:13 pm

Cheesecakelady wrote:
Fri Aug 11, 2017 7:22 pm
Naismith wrote:Credit card coverage is great for us, but look closely at the definition of "immediate family." For both of our cards, that definition does not include elders who do not live with us.

Since we would want to cancel a trip if a parent became ill, we buy insurance for international travel.
Per my Chase Sapphire Preferred Guide to Benefits, "Immediate Family Member, means your Spouse or Domestic Partner and their children, including adopted children or step-children; legal guardians or wards; siblings or siblings-in-law; parents or parents-in-law; grandparents or grandchildren; aunts or uncles; nieces or nephews."

I can't find anything that stipulates they must live with you. This was one of the reasons I chose this particular card. So far, the travel benefits have been very good for our circumstances.
I haven't looked up benefits for Chase Sapphire Preferred, but for the Reserve card it covers all travelling companions. I used their trip cancellation insurance a few months ago and it was painless to get reimbursed for everything.

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climber2020
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Re: Trip Cancellation Insurance.

Post by climber2020 » Sat Aug 12, 2017 2:33 pm

If you're relying on your credit card, check to see what your limits are for medical evacuation coverage. I think the average cost for a medical evac within North America is around $25,000. I can eat the cost of some plane tickets and a hotel deposit, but would rather not pay five figures to get airlifted across an ocean.

I don't usually buy travel insurance, but have done so on a few rare occasions. Latest relevant example was Easter Island. If you get into a medical emergency there, the cost of the medical flight to Chile is going to be ridiculous. The cost for $100,000 of medical evacuation coverage and $15,000 of medical care for a one week trip was around 25 bucks from Travelex.

I agree that if you're going to mainland Europe or traveling around the states, most people can do without travel insurance or rely on their credit card. But if you're going to the Pitcairn Islands, you may want to consider it. Actually, if you're going to Pitcairn and you get seriously ill, you'll probably die there, so bad example. But you get the idea; any place remote without a real hospital system.

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Artsdoctor
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Re: Trip Cancellation Insurance.

Post by Artsdoctor » Sat Aug 12, 2017 6:59 pm

A few things from a medical point of view.

You would think that it's the stroke, heart attack, and other diseases often related to advanced age that get you into trouble while traveling but you'd be wrong. The data are very clear here; travelers of all ages will often do things while traveling that they may not do at home (parasailing, bungee jumping, hiking up ruins without railings, etc., etc.). I have seen more than my fair share of young people putting themselves on a plane with a bone exposed after an accident (think white-water rafting, for example) just to come to the ER directly from the airport after an 8-hour flight.

At least think about medical evacuation insurance. If you're hospitalized in Cambodia with a broken bone after a misstep while hiking Angor Wat, you're going to want to be flown back to your hospital of preference in US, aren't you? And actually, the company mentioned above will fly you back even if you're 350 miles away from home if you're hospitalized.

But the general concept of trip cancellation insurance is one that is personal. If it's a matter of losing a few hundred dollars, you can deal with it. If you've prepaid that cruise for the family and not being able to take that trip would set you back $20,000, you might want to consider cancellation insurance.

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corner559
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Re: Trip Cancellation Insurance.

Post by corner559 » Sun Aug 13, 2017 3:01 am

I frequently travel internationally and have never bought trip cancellation insurance. It's a complete waste of money.

Cheesecakelady
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Re: Trip Cancellation Insurance.

Post by Cheesecakelady » Sun Aug 13, 2017 7:34 am

That's the thing about insurance. If you never need to use it, It's a waste of money. If you do need to use it, it can be a lifesaver, sometimes literally.

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Re: Trip Cancellation Insurance.

Post by RudyS » Sun Aug 13, 2017 9:35 am

climber2020 wrote:
Sat Aug 12, 2017 2:33 pm
....

I agree that if you're going to mainland Europe or traveling around the states, most people can do without travel insurance or rely on their credit card. But if you're going to the Pitcairn Islands, you may want to consider it. Actually, if you're going to Pitcairn and you get seriously ill, you'll probably die there, so bad example. But you get the idea; any place remote without a real hospital system.
The insurance will usually cover the cost of returning the remains. Though, cremation plus fedex shouldn't cost too much.

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