What is your opinion on trip insurance, given current world events?
Jul 13th, 2006, 08:15 PM
#1
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What is your opinion on trip insurance, given current world events?
Watching CNN tonight made me wonder... should I change my mind on the matter of trip insurance?
My trip planner offered to sell me some. The 400 dollar policy would pay us all costs and fees in the event of us cancelling our trip, or our trip being interrupted.
I turned it down, since my regular insurance policy will take care of us if we're hurt, or if our stuff is stolen.
Now, though... eh. Just wondering.
What you do think, am I overreacting to the grim news in the world tonight?
My trip planner offered to sell me some. The 400 dollar policy would pay us all costs and fees in the event of us cancelling our trip, or our trip being interrupted.
I turned it down, since my regular insurance policy will take care of us if we're hurt, or if our stuff is stolen.
Now, though... eh. Just wondering.
What you do think, am I overreacting to the grim news in the world tonight?
Jul 13th, 2006, 08:57 PM
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I personally think you are overreacting.
That being said you need to look at your own circumstance:
- Where are you traveling to? Traveling to Israel now is alot different than traveling to Norway.
- How much nonrefundable costs have you paid? If you have paid $1000 in nonrefundable costs then $400 is 40%. If you have paid $10000 in nonrefundable costs then $400 is 4%. There is a point where it is silly to purchase insurance (i.e. collision insurance on a car that is worth $500). Only you can make this call depending on your circumstance.
- What does your medical insurance cover? If it covers you overseas for any type of injury or accident then what extra benefit does trip insurance have...I don't know the answer.
That being said you need to look at your own circumstance:
- Where are you traveling to? Traveling to Israel now is alot different than traveling to Norway.
- How much nonrefundable costs have you paid? If you have paid $1000 in nonrefundable costs then $400 is 40%. If you have paid $10000 in nonrefundable costs then $400 is 4%. There is a point where it is silly to purchase insurance (i.e. collision insurance on a car that is worth $500). Only you can make this call depending on your circumstance.
- What does your medical insurance cover? If it covers you overseas for any type of injury or accident then what extra benefit does trip insurance have...I don't know the answer.
Jul 13th, 2006, 09:06 PM
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Most trip insurance covers medical cancellations -- and it is very good to have no matter what is going on in the world because your insurance company is not going to pay for your extra travel costs if you get sick and can't leave your hotel to catch your flight, or have to take extra flights because you can't take trains due to illness, etc.
Why would you cancel a trip to Europe because of violence in the Middle East? It's been going on nearly non-stop for as long as any of us can remember.
Why would you cancel a trip to Europe because of violence in the Middle East? It's been going on nearly non-stop for as long as any of us can remember.
Jul 13th, 2006, 09:17 PM
#4
Read the fine print. Just changing your mind about going is probably not covered. I don't think interruptions caused by insurrections, acts of war (declared or otherwise) and the like are covered.
Saps also makes a good point about the cost of insurance vs. nonrefundable monies paid in advance.
Saps also makes a good point about the cost of insurance vs. nonrefundable monies paid in advance.
Jul 13th, 2006, 10:42 PM
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Your "trip planner"?
Your "regular insurance policy"?
You should probably only need to insure for any likely contingencies, and understand the coverage, and especially the "exclusion".
Your "regular insurance policy"?
You should probably only need to insure for any likely contingencies, and understand the coverage, and especially the "exclusion".
Jul 14th, 2006, 01:02 AM
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Some policies cover unrest and terrorist attacks within a certain time frame and some don't. I wouldn't count on your medical insurance to pay evacuation costs, if they were needed.
Look over different coverages at http://www.insuremytrip.com
We've always been satisfied with Travelguard policies and they don't cost anywhere near $400.00. We only insure for the amounts that would be non-refundable within a few days of travel,and various other things that are covered along with that, delays,lost luggage,evacuation.
I think it is worthwhile even if you never use it.
Look over different coverages at http://www.insuremytrip.com
We've always been satisfied with Travelguard policies and they don't cost anywhere near $400.00. We only insure for the amounts that would be non-refundable within a few days of travel,and various other things that are covered along with that, delays,lost luggage,evacuation.
I think it is worthwhile even if you never use it.
Jul 14th, 2006, 01:45 AM
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I'm in Poland now so maybe am not up on the latest scary events that you are referring to, but I do watch the news here and read the paper occasionally. So, where are you going, Lebanon? I just don't get your question otherwise, what am I missing.
I don't know what kind of policy you were being sold, but $400 buys a heck of a lot of trip insurance and I don't think hardly any policy will cover you for all costs and fees for cancellations if you buy it much after you've made those expenditures, which it appears you have. Maybe you just paid things a couple days ago, I don't know, but I don't even know what kind of costs and fees you would have to insure? I never have hardly any except an airline ticket change fee, which is trivial.
I don't know what kind of policy you were being sold, but $400 buys a heck of a lot of trip insurance and I don't think hardly any policy will cover you for all costs and fees for cancellations if you buy it much after you've made those expenditures, which it appears you have. Maybe you just paid things a couple days ago, I don't know, but I don't even know what kind of costs and fees you would have to insure? I never have hardly any except an airline ticket change fee, which is trivial.
Jul 14th, 2006, 02:29 AM
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$400 for trip insurance seems like a LOT. We pay much, much less than that for annual trip insurance.
Read the fine print of the policy. Chances are it won't cover acts of war anyway. And since that seems to be what you're concerned about, maybe you'd be better off stuffing that $400 under your mattress.
Read the fine print of the policy. Chances are it won't cover acts of war anyway. And since that seems to be what you're concerned about, maybe you'd be better off stuffing that $400 under your mattress.
Jul 14th, 2006, 03:24 AM
#10
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Hi TT,
Check www.insuremytrip.com
I think that recent events in the ME are unlikely to affect you on your visit to Europe.
Check www.insuremytrip.com
I think that recent events in the ME are unlikely to affect you on your visit to Europe.
Jul 14th, 2006, 04:32 AM
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When we were delayed at a hotel in February we discovered not only were our expenses paid, but we were reimbursed a fair amount for missing a day.. That said..several of the cruise lines (seems to be the upscale ones) are cancelling areas in danger.. wisely too.. $400. is alot of $$ and you should check out www.insuremytrip.com We are older and have never paid that amount of $$..
Jul 14th, 2006, 07:15 AM
#12
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Assuming that the premium is in some kind of reasonable proportion to the amount of non-refundable expenses that are at risk, trip insurance is a very good idea. I just cashed a check from Travel Guard reimbursing me for all my out of pocket, non-refundable expenses for a trip to Scotland planned for June 20, but which had to be canceled on May 24 when my travelling companion suffered a broken leg. That insurance premium was the best money I've ever spent.
