Insurance Clarification Question

I'm unsure about the Princess insurance "cancel for any reason" thing.

If you have paid for the insurance that is one thing. Most people don't pay for it until final payment time so, if you have to cancel before final payment and haven't actually already paid for the insurance, is the insurance actually in place and usable?

what would you need to use it for, first?:confused:

I'm unsure about the Princess insurance "cancel for any reason" thing.

 

If you have paid for the insurance that is one thing. Most people don't pay for it until final payment time so, if you have to cancel before final payment and haven't actually already paid for the insurance, is the insurance actually in place and usable?

Don't think so Thrak...think about it...your house burns down, you were planning on buying insurance "tomorrow". I can see you telling the insurance company, "I was going to buy it, honest".

How can you use insurance if you have not bought it???

That makes no sense.

You have to buy the trip insurance and THEN you can use it .

I'm unsure about the Princess insurance "cancel for any reason" thing.

 

If you have paid for the insurance that is one thing. Most people don't pay for it until final payment time so, if you have to cancel before final payment and haven't actually already paid for the insurance, is the insurance actually in place and usable?

Unpaid insurance is a lot like an unpaid cruise...it only exists in your mind.

Can you tell us a little more about where your query comes from?

If you haven’t made the final payment yet then what is there to lose? Except for maybe the down payment and depending on how far out, you might get that back.

The only reason I can think of for insurance at that point is if you prepaid for air fare or hotel that is nonrefundable. Now a question about coverage; does Princess insurance even cover prepaid air?

If you haven’t made the final payment yet then what is there to lose? Except for maybe the down payment and depending on how far out, you might get that back.

 

The only reason I can think of for insurance at that point is if you prepaid for air fare or hotel that is nonrefundable. Now a question about coverage; does Princess insurance even cover prepaid air?

Good thoughts except that, if you didn’t book thru Princess, you aren’t covered by their insurance.

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Good thoughts except that, if you didn’t book thru Princess, you aren’t covered by their insurance.

 

 

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I booked through a very large warehouse travel agency and had the option of buying Princess' insurance. I declined and went with another.

Looking at Princess cancellation fees, only cruises 30 days or longer have a fee that begins at 119 days before sailing. And those cruises have final payment due 120 days in advance so the Princess insurance would be paid before the cancellation fee period of time.

Most other cruises require final payment 75 days before sailing with cancellation fees beginning at 74 days.

I cannot think of any reason to pay for the insurance prior to final payment because cancellation fees only begin after final payment when payment is due for their insurance coverage.

If you haven’t made the final payment yet then what is there to lose? Except for maybe the down payment and depending on how far out, you might get that back.

 

The only reason I can think of for insurance at that point is if you prepaid for air fare or hotel that is nonrefundable. Now a question about coverage; does Princess insurance even cover prepaid air?

As thinfool posted only Princess EZair flights are covered. However if cancelled prior to final payment, the EZair flights don’t have any cancellation fees so there’s no need for Princess insurance prior to final payment.

When comparing my trip insurance options, whether I have Princess EZair is a consideration for me. Their insurance cost is based solely on the cruise price & they don’t charge more to insure their flights or hotels. Private insurance rates are based on the total cost of the trip & not just on cruise fare. There are many options to explore when finding my best insurance option for each trip.

Looking at Princess cancellation fees, only cruises 30 days or longer have a fee that begins at 119 days before sailing. And those cruises have final payment due 120 days in advance so the Princess insurance would be paid before the cancellation fee period of time.

 

Most other cruises require final payment 75 days before sailing with cancellation fees beginning at 74 days.

 

I cannot think of any reason to pay for the insurance prior to final payment because cancellation fees only begin after final payment when payment is due for their insurance coverage.

Pre-existing (pre-ex) conditions, that's a reason to pre-buy travel insurance. Not necessarily Pricness' plan but travel insurance in general.

Pre-ex usually has a 60-day look back provision, meaning the coverage exists so long as it wasn't diagnosed within 60 days of purchase.

Example on how to buy travel insurance; if you have a $4000 cruise upcoming, but you've only paid $200 deposit, only insure the $200 deposit as what you paid for your trip. AFTER you make your final payment, then you can add more coverage to your insurance and insure the full value of your trip ($4000).

The cost of insurance on $200 is very low. This way you're buying pre-ex coverage and have little financial exposure.

You only buy your full exposure when you are fully exposed on cash outlay (paying for your trip).

CA_Cruzing...that’s an excellent point to consider...thanks.

Yvw. I do this all day long with my clients; risk/exposure/strategy.

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CA-Cruzing:

Thank you for your great explanation! When we were younger, we did buy our insurance when it was close to final payment time. Now that we're well into being seniors, pre-existing conditions are a definite consideration for us, so we've bought the insurance soon after booking. I've always been concerned about what-ifs: the outlay of several hundred dollars for insurance for a cruise that we weren't totally certain we wanted to take. Your strategy of insuring just the deposit and adding the full price to it at booking is a wonderful solution. Many thanks!

I'm unsure about the Princess insurance "cancel for any reason" thing.

 

If you have paid for the insurance that is one thing. Most people don't pay for it until final payment time so, if you have to cancel before final payment and haven't actually already paid for the insurance, is the insurance actually in place and usable?

Unless you booked with a non-refundable deposit, you can get ALL your money back up to final payment date...so unless you are purchasing something privately in order to have pre-existing medical conditions covered, there is no need to pay for the insurance until final payment date.

But when considering insurance, remember that "pre-existing" also applies to those family members who may have issues that require you to cancel the cruise. Also the "look back" period includes both diagnosis and change of treatment. So, if I am healthy, but I cancel my cruise because my mother has cancer and has taken a turn for the worst, they will look at when her diagnosis was first noted on the medical records.

What I'm saying is that YOU may have no pre-existing conditions at the time you book the cruise or buy insurance, but first or second degree relatives who may constitute a reason for you to cancel might have them.

I'm unsure about the Princess insurance "cancel for any reason" thing.

 

If you have paid for the insurance that is one thing. Most people don't pay for it until final payment time so, if you have to cancel before final payment and haven't actually already paid for the insurance, is the insurance actually in place and usable?

FWIW, here is what is stated on our personalizer for our upcoming cruise about the Princess Insurance:

Please note that payment of the required cruise deposit does not automatically activate enrollment in Princess Vacation Protection. To activate enrollment, the appropriate program costs must be paid in addition to the required cruise deposit amount. Please refer to the plan description for details regarding the terms, conditions and exclusions or call Aon Affinity at 1-877-846-8833 with any questions.

BTW, the question was a joke.... or not? :confused:

Unless you booked with a non-refundable deposit' date=' you can get ALL your money back up to final payment date...so unless you are purchasing something privately in order to have pre-existing medical conditions covered, there is no need to pay for the insurance until final payment date.

 

But when considering insurance, remember that "pre-existing" also applies to those family members who may have issues that require you to cancel the cruise. Also the "look back" period includes both diagnosis and change of treatment. So, if I am healthy, but I cancel my cruise because my mother has cancer and has taken a turn for the worst, they will look at when her diagnosis was first noted on the medical records.

What I'm saying is that YOU may have no pre-existing conditions at the time you book the cruise or buy insurance, but first or second degree relatives who may constitute a reason for you to cancel might have them.[/quote']

Under this, you can use the cancel for any reason if you paid the extra for it. However, under the Princess plan, you receive credit only toward a future cruise that has a time limit for booking.

Under this, you can use the cancel for any reason if you paid the extra for it. However, under the Princess plan, you receive credit only toward a future cruise that has a time limit for booking.

True. We have always been satisfied with the service when buying insurance privately under a plan that gives pre-existing coverage automatically if purchased within 21 days of the initial cruise deposit.

I don't know if the idea of insuring just the deposit and then adding when we pay the entire fee would work--no personal experience. No experience with insurance thru Princess, but the quote that we got thru them was more than double the cost of private insurance!

We pay the Princess insurance in full when we first book a trip due to my health issues, and now my mom's (not a cruiser, but we're the caregivers when there's an issue). Had to cancel a booking prior to final payment recently and I believe we received a full refund for both cruise deposit and insurance.

Unless you booked with a non-refundable deposit' date=' you can get ALL your money back up to final payment date...so unless you are purchasing something privately in order to have pre-existing medical conditions covered, there is no need to pay for the insurance until final payment date.

 

But when considering insurance, remember that "pre-existing" also applies to those family members who may have issues that require you to cancel the cruise. Also the "look back" period includes both diagnosis and change of treatment. So, if I am healthy, but I cancel my cruise because my mother has cancer and has taken a turn for the worst, they will look at when her diagnosis was first noted on the medical records.

What I'm saying is that YOU may have no pre-existing conditions at the time you book the cruise or buy insurance, but first or second degree relatives who may constitute a reason for you to cancel might have them.[/quote']

 

I think the main reason is things happen. If you book Princess insurance at deposit and any one's condition changes before final payment, you are covered. For example - you are healthy at deposit and pay for insurance and then develop diabetes before final payment, you are covered for pre-existing conditions.

 

There are definite reasons to buy Princess's insurance at deposit. I personally buy insurance through my agent that covers pre-existing conditions at final payment so that is the route I go.

True. We have always been satisfied with the service when buying insurance privately under a plan that gives pre-existing coverage automatically if purchased within 21 days of the initial cruise deposit.

 

I don't know if the idea of insuring just the deposit and then adding when we pay the entire fee would work--no personal experience. No experience with insurance thru Princess' date=' but the quote that we got thru them was more than double the cost of private insurance![/quote']

Hard to believe cost was double. Are you comparing the cost of the Princess Platinum plan at fill price? Have you compare actual coverage.

 

Princess plans only cover the Princess portion of any loss. We typically have added adjuncts that need to be insured also. Since Princess does not cover these we normally go outside of Princess to insure.