your favorite "cancel for any reason" insurance?

[curiouser123]

I've looked at the cruise line's insurance and they seem to offer 75% cruise credit on their "cancel for any reason" insurance, but I'd like to do better than that and get cash back. However, I hate buying insurance when I don't know anything about any of the companies.

 

Has anyone ever used the cancel for any reason clause? Anyone have recommendations? Thanks.

[Keith1010]

I've looked at the cruise line's insurance and they seem to offer 75% cruise credit on their "cancel for any reason" insurance, but I'd like to do better than that and get cash back. However, I hate buying insurance when I don't know anything about any of the companies.

 

Has anyone ever used the cancel for any reason clause? Anyone have recommendations? Thanks.

 

I always think it's good to look at other insurance programs. Some work better for one person than others as many of us have different requirements. I would go to insuremytrip.com and then after you provide some information such it will provide you with plans from various travel insurance companies and a nice way to compare the plans.

 

Keith

[6rugrats]

Keith is right; you need to go to a third party to get your money back. And even then, I've never had a policy that would refund 100% of the amount paid. I think the current policy I have with "cancel for any reason" will only refund me 75%.

[cruiseco]

Here's the payout schedule for one CSA plan. The other insurers are fairly similar -- some pay a little more, some pay a little less.

 

If Cancellation Penalty Percentage of Penalty

Amount Is: Amount Payable Is:

Up to 25% of trip cost. . . . . . . . . 100% of penalty amount

26% to 50% of trip cost . . . . . . . . 90% of penalty amount

51% to 75% of trip cost . . . . . . . . 80% of penalty amount

Over 76% of trip cost . . . . . . . . . . 70% of penalty amount

 

So if you cancel your cruise at a time the penalties are only 25% of your fare the plan will cover 100% of your loss. The later you go into the penalties the less the percentage payout becomes -- an obvious inducement to the insured to cancel sooner rather than later.

 

Is the prospect of canceling for a non-covered reason significant for you? For most cruisers the most likely risks are the most common -- getting the flu, having an elderly parent go into the hospital, canceled flights, etc -- and I'd hesitate to buy a policy based on a max CAR benefit 5% better than the above if I'm not getting the proper coverage for the things that are most likely to happen and which are normally covered. That CAR benefit normally goes away 48 hours before your scheduled departure and is not in effect during the trip so make sure you're covered properly during those time periods.