Does the Underwriter make a difference?

[jtdlmc]

I am a Canadian looking to purchase trip cancellation/interruption insurance (already have extensive medical, including evacuation).

 

I went to http://www.squarepants.com and received a quote from TravelGuard for an all inclusive plan including medical (Silver plan) for $130 US. This policy is underwritten by a US insurance company. When inputting info for the quote I was asked what country and province I live in, so it is known that the quote is for a Canadian.

 

I got a quote directly from TravelGuard.ca and just for trip canc/interruption it was $224.

 

Anyone know if there is any reason why I shouldn't buy the policy underwritten by the US Insurance Company? Is it more difficult for a Canadian to get a claim settled when going through a US firm even though the insurance is TravelGuard which has a Canadian "office"?

[zoncom]

Never did insurance but recall a site devoted to insurance, Insuremytrip.com. I have always been told never buy from Cruiseline or cruise agency. I would be concerned about what is NOT covered.

[jtdlmc]

The TravelGuard Silver is actually a good plan in regards to the trip canc/interruption - I don't care about the medical as we don't need it. But it covers 100% trip canc/interruption for injury, sickness or death of insured traveler, traveling companion, family member or business partner, up to $500 return air which is more than adequate, trip delay $100/day, baggage loss $750, baggage delay $200. My only concern is why it is so much cheaper to purchase from an American underwriter than directly from TravelGuard in Canada.

 

(Squarepants.com is very similar to insuremytrip.com only, from what I have seen, the plans tend to be less expensive on squarepants.com)

[cruiseco]

fyi it's squaremouth.com, not squarepants.com

 

If you go to insuremytrip.com and input that you're a Canadian you will be sent to their sister site insuremytrip.ca -- you will be presented with a completely different array pf plans even though almost all of the plans on the US site are nominally also available to Canadians. Thw other major comparison sites like squaremouth don't do this as you've found out.

 

I don't know why. Obviously, the Canada-based insurers hate to lose clients to US-basedcompanies but in terms of price and features their plans often aren't the best value. But you're also giving up your home country oversight which may make things more difficult in the event of a dispute as you don't have the threat of gov't action as a bargaining chip. But you still have the contract's mandatory third=party arbitration to use.

[jtdlmc]

Lol - guess I was thinking of Spongebob! Thanks for the info. I think I will call the TravelGuard 1-800 number listed on the policy I printed off from squaremouth and see what they say. Yes, they would have to honour the policy whether I am in Canada or the US, but I'm just concerned as to the huge price difference, which is probably just Canadian pricing as it seem most everything costs more over here!

[klfrodo]

Just a guess here but it could have a lot to do with the laws of the country you reside in.

So, by being Canadian but buying a US policy, it could be that a US policy doesn't cover something that a Canadian policy MUST cover under the law. You have an issue, they research, find your Canadian purchasing a US policy,,,claim denied.

 

Therefore the price discrepancy.

 

Then again, I could be full of hot air and don't have a clue what I'm talking about.:o Has been known to happen.