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Do you insure for less of what cruise and air costs


CarolRoy
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I only like to get insurance for medical ($10,000) and medical evacuation ($50.000) portions of the policy. Next rate would be $25,000 for medical and $500,00 for medical evacuation. The rate for this coverage is much higher. I insure for what I am comfortable insuring, so I insure my cruise for less than what I pay for it - cruise and air fare. Any comments?

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I only like to get insurance for medical ($10,000) and medical evacuation ($50.000) portions of the policy. Next rate would be $25,000 for medical and $500,00 for medical evacuation. The rate for this coverage is much higher. I insure for what I am comfortable insuring, so I insure my cruise for less than what I pay for it - cruise and air fare. Any comments?

 

I'm not sure what you mean.

 

If you *only* want medical/evacuation coverage, that wouldn't depend upon the price of the cruise.

The maximum for payments would determine the coverage, as you mention.

 

Are you also interested in coverage for the travel costs, etc.?

 

It isn't clear just what type of insurance coverage you want.

 

Also, depending upon the specific policy, when coverage is based upon the travel costs themselves, then in some cases one *must* include ALL costs.

But that is specific to certain policies. such as most or all coverage that includes pre-existing conditions.

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I could be mistaken...but you need to check....insuring for less than the actual value may, in some cases, void your coverage completely.

 

What you need to do is find a policy that only covers medical, and has nothing to do with the cost of your trip.

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You may want to check your medical insurance policy to see if already includes overseas coverage, if so you may be able to get cheaper travel insurance that just covers specific travel elements. I know my Irish medical insurance covers me internationally so most travel insurers here offer dual pricing, one including medical and one excluding medical because so many customers already have medical cover.

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I use Travel Insured through the USAA desk. They state that if you don't insure the full amount (less taxes & port fees and gratuities ) then it is actual medical costs only. So, if you purchase a trip for $10K, and you are comfortable losing the $10K if you get sick, have a heart attack, appendix attack, car accident on the way, etc, that causes you to miss the cruise and you don't mind forfeiting the $10K, you are fine.

 

It is a fine line.

 

Sent from my SM-N910P using Tapatalk

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  • 3 weeks later...
I could be mistaken...but you need to check....insuring for less than the actual value may, in some cases, void your coverage completely.

 

What you need to do is find a policy that only covers medical, and has nothing to do with the cost of your trip.

Perhaps you are thinking of the PEC waiver? If you want that, you must insure the full cost. Many, if not all, of the major plans allow you to insure partial costs-and doing so does not void the plan-but you are only covered for the amount you insure.
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I use Travel Insured through the USAA desk. They state that if you don't insure the full amount (less taxes & port fees and gratuities ) then it is actual medical costs only. So, if you purchase a trip for $10K, and you are comfortable losing the $10K if you get sick, have a heart attack, appendix attack, car accident on the way, etc, that causes you to miss the cruise and you don't mind forfeiting the $10K, you are fine.

 

It is a fine line.

 

Sent from my SM-N910P using Tapatalk

Barb,this is only if you were insuring $0 value of the trip...in which case it would medical only. But you can insure partial value (say $5000 instead of $10,000) and still receive $5000 cancellation coverage and full medical.
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One needs to assess risk/benefit. But consider this scenario. Say you spend $8000 for a cruise/air trip. You insure $5000 of that cost...and get a trip medical policy that covers $10,000 (typical of many cruise policies sold by the cruise lines). Something happens and you must cancel the trip. You collect that $5000...so you lost $3000 on the deal.

 

Now consider that on that same trip you had a major medical emergency in a foreign country which caused you to be hospitalized for more then a week...and you also needed emergency surgery. Your medical bills were $45,000 (not that much these days for a major medical problem). Your policy does pay their $10,000....and you now are stuck with the other $35,000!

 

My point is that many folks are willing to spend a lot of money to insure trip costs...which are limited by the cost paid for the trip. But those same folks will not spend money for decent medical coverage...where their liability is virtually unlimited. Just fruit for thought.

 

Hank

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when I called a travel insurance company I found a big difference in price if I cut down the total cost of travel

for example

cruise total is 12,000, but the medical is 25,000, but evac of 50,000 cost was $900+

if I change the cruise total to 6,000 (I would lose 6,000 if I had to cancel), but the medical and evac would still be the same cost was $400- 500

Because I am on Medicare and my supplement will not cover out of country medical, I am only interested in the medical and evac, not the cost of the cruise, or the loss of part of my trip. I have always taken the ship insurance, but now I have to look for a "more" coverage.

Interested in who people recommend

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Many, if not all, of the major plans allow you to insure partial costs-and doing so does not void the plan-but you are only covered for the amount you insure.
Are you only covered for the amount you insure or are benefits prorated by the percentage of total cost that you insure?

 

This message may have been entered via voice recognition. Please excuse any typos.

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Are you only covered for the amount you insure or are benefits prorated by the percentage of total cost that you insure?
In most policies your cancellation coverage is limited to the amount you insured, interruption is 150% of that insured amount and medical is whatever the particular policy medical limits are...and which have no bearing on the cancellation limit.
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In the UK there can be a basic package policy. This covers a very wide variety of items , The operator discusses this with you, I believe the cost of your vacation in total is covered for examplel. My medical expenses allowed on my present policy within UK and Danish waters is 1,000,000 GDP.

If travelling within the US I guess you would be covered (I don't know how private healthcare works within US) But if travelling anywhere else in the world medical bills Hospital bills, hotel bills/and for companion, medical fees , medication, x rays ,scans, operations, nursing bills, repatriation (with equipment / nurse), etc can be extremely high.

As I say I do not know how US policies work. But I always discuss my needs with insurance company. Being severely ill or dying overseas can be crippling if not covered correctly.UK Insurance companies can fail to insure if your needs are seen to inadequate.

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  • 2 weeks later...

Our cruise is about $3,000. My CC covers up to $3,000 if cruise is CANCELLED for a covered reason. I called the Insurance Store and they suggested taking out a policy with a trip cost that covers the air (to Europe-business class) and medical/evacuation. That is what I have done. I hope I don't have to use any of it.

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I just compared GeoBlue for our single trip - we don't travel out of the US more than once a year anymore and within the US we are covered by our regular medical and credit card insurance - and for just medical and evacuation it was only about $100 less than we are paying for our Global Alert policy including cancellation, etc.So, except for annual - if you need it - coverage, it doesn't look like a bargain to me.

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  • 3 months later...

I just spoke to Steve from Trip Insurance Store today and he said that Travelex has changed their policy requiring the that you now need to insurance the FULL amount for Pre Existing waiver. Bummer.

 

 

We've been fortunate that the policies we get do not required full coverage.

 

We often use travelexinsurance.com

 

Keith

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I just spoke to Steve from Trip Insurance Store today and he said that Travelex has changed their policy requiring the that you now need to insurance the FULL amount for Pre Existing waiver. Bummer.

 

To be specific -- You must insure 100% of your prepaid non-refundable trip costs. That does not mean hotels or even air fare (if non refundable).

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