Trip Insurance?

Old Nov 14th, 2005, 11:53 AM
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Trip Insurance?

Has anyone ever had to collect? If so, what were the circumstances: illness; tour co. bankruptcy; missed flights? Was it worth the premium?
Many thanks.
M
PS: travelled everywhere without it for 50 years, but the Avian flu and March China trip have me a bit concerned.
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Old Nov 14th, 2005, 01:00 PM
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I just bought it for the first time last summer. My husband and I took four teenagers to St John and bought it "just in case" thinking primarily about the possibility of an accident or even the need of a medical flight to the US. Fortunately we didn't need it for that but we did file a claim for expenses incured due to lost luggage.

My daughter's suitcase did not arrive for about 24 hours, and we had to buy her a bathing suit at the resort-to the tune of about $100. When we got home I filed a claim and received a check for the full amount in less than two weeks. We also had to provide documentation from the airline that the suitcase was lost.

The company was Travel Guard and I purchased it through my travel agent.
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Old Nov 14th, 2005, 01:40 PM
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I bought travel insurance for the first time this fall for mainly the same reasons as Sunshinesue. I purchased my policy directly from the Travelguard website.

My Cancun trip (purchased on Expedia) was cancelled due to Wilma. ATA airlines was originally only going to give me a credit for the flights, so I contacted Travelguard and I was told if I put the e-ticket receipt in the mail (along with their claim form, etc.) I would receive a refund within 6 - 8 weeks. Before I ever filed a claim, ATA ended up refunding my money, but I was very satisfied with my almost filing experience. I found the premium to be pretty inexpensive and I will purchase trip insurance again in the future.
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Old Nov 14th, 2005, 01:43 PM
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Years ago I collected on trip insurance once when I had to cancel a trip because my son became ill and couldn't travel. We recovered just about all but but $50 PP of our pre-paid expenses. We normally don't purchase travel insurance but this particular trip was on the pricey side and we had to pay the entire cost upfront. At the time I was glad I took out insurance.

We recently went on another very expensive trip and were concerned because our elderly parents are not in the best of health. We elected to purchase trip insurance to give us peace of mind in the event we had to cancel because of an illness. Our parents stayed healthy, we went on the trip and didn't have to use the insurance.

Whether travel insurance is "worth the premium" is strictly a personal decision. Travel Insurance is like any other insurance product - you have to ask yourself if you are comfortable with the financial burden you will incur if you have to cancel your trip. If the potential loss doen't bother you then don't buy insurance. If on the other hand you would like to be reimbursed for your loss the answer is to get insurance. Only you know what is right for you!

Go to www.insuremytrip.com to compare policy terms and premiums of just about every type of travel policy available. Read the terms carefully to be sure you are getting the type of coverage that most closely fits your needs. That should help you make up your mind.
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Old Nov 14th, 2005, 01:59 PM
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I've gotten TravelGuard several times and once had to use it. The BF got an infection on his leg and couldn't go on a hiking trip in France. We were both fully reimbursed.
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Old Nov 15th, 2005, 02:27 AM
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We were travelling to south america when a local strike prevented us from arriving at our final destination. We ended up having to charter a private plane. Accesss america covered the cost of the plain(not inexpensive) under our travel insurance(trip interruption). I would never travel again without taking it out, as you absolutely never know.
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Old Nov 15th, 2005, 04:38 AM
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About "was it worth the premium?" - Insurance in any form is set up so that the insurance company takes in more in premiums than it pays out. They have very good actuarial programs that calculate the risk of you needing to file a claim, then charge you equivalently more so that they can make profit - that's why they are in business.

Insurance is only worth it, statistically, if the amount of money you are insuring would be a major loss to you in your particular financial situation, or if you have a particular situation in your family that you know might make it more likely you'll need to cancel (and that particular situation fits within the guidelines of the policy you purchase).
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Old Nov 15th, 2005, 05:30 AM
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Thanks All!
My dad was in the industry for 50 years and I was a practicing MD for nearly four decades so I understand the financial risk/reward.
A_T, the insure my trip site was very helpful: the China Focus folks recommended Travelex, but their "lite" policy made much more sense for less premium $$s.
Fortunately, my insurance coverage here in MX is limited to mandatory auto liability.
M
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