Cancel for any reason insurance

[mitsguy2001]

I'm considering booking a cruise in June 2012, and want Cancel for any reason insurance. For my last cruise, I used the insure my trip website, and the most that I could find was insurance that covered only 90% of the cruise, and was expensive. I have heard from others that there are other insurance companies that will cover 100% and allow cancellation for any reason. Carnival's insurance seems useless. What companies can I get cancel for any reason insurance at a reasonable cost that covers 100%? Thanks.

[Keith1010]

I would visit the web site http://www.insuremytrip.com

 

You can easily find a number of insurance companies and compare plans. Be sure that you read the details and that you purchase the insurance in the required time frames to meet the requirements of the policy.

 

Keith

[sirwired]

I'm considering booking a cruise in June 2012, and want Cancel for any reason insurance. For my last cruise, I used the insure my trip website, and the most that I could find was insurance that covered only 90% of the cruise, and was expensive. I have heard from others that there are other insurance companies that will cover 100% and allow cancellation for any reason. Carnival's insurance seems useless. What companies can I get cancel for any reason insurance at a reasonable cost that covers 100%? Thanks.

 

There are NO policies out there that that I know of that will supply a 100% cash payout in an Any Reason rider. Some of the provider-sold policies will provide a 100% cruise credit.

 

These policies are expensive for the obvious reason that they have high claims rates; if the policyholder had no "skin in the game" and would receive a 100% cash payout on a whim, the policies would be even MORE expensive.

[6rugrats]

I agree. The most I've ever found is a policy that would pay 90%, and usually it's 75%. As stated, some policies purchased directly from the cruise line will refund 100%, but not in cash; it's in the form of a future cruise credit.

 

You're just going to take a loss if you cancel for any reason, but it's better than losing all your money.

[cruiseco]

I agree. The most I've ever found is a policy that would pay 90%, and usually it's 75%. As stated, some policies purchased directly from the cruise line will refund 100%, but not in cash; it's in the form of a future cruise credit.

 

You're just going to take a loss if you cancel for any reason, but it's better than losing all your money.

 

I think the confusion comes from how the plans are worded and marketed. Some, under some circumstances, will indeed reimburse 100% of the penalty amount. For example, this is from TravelSafe:

 

"Cancellation Penalty Schedule

If Cancellation Penalty Amount Is: Percentage of Penalty Amount Payable Is:

Up to 25% of Trip Cost --- 100% of Penalty Amount

26% to 50% of Trip Cost --- 85% of Penalty Amount

Over 50% of Trip Cost --- 75% of Penalty Amount"

 

So, if you cancel early in the penalty period for most cruises when the penalty could be 25% of the fare or less, the plan will indeed cover 100% of your loss. And that's what the insurers will feature in big letters on their brochures the travel agent hands out -- "Cancel For ANY Reason And Get Up To 100% of Your Losses Covered." But if you're not paying attention to that "Up To" you're not getting the whole picture.

[mitsguy2001]

The lack of refunds (with or without insurance) is the only thing that I find very frustrating about cruises (I otherwise love cruises). Most land hotels allow cancellation with a full refund, sometimes as late as your day of arrival. But it is frustrating that cruises are so hard to get a refund for, even though they can re-sell your cabin for the same as what you paid (or even more). Sometimes, real life gets in the way of vacation plans and requires you to cancel. The cost of insurance plus 10% of the cruise cost is a lot of money to spend on a vacation that you don't get to go on.

[EmJakeBubbie]

I cancelled one time w/the insurance. of course, I lost the cost I had paid for that insurance, but did get everything refunded on the actual cruise.

[mitsguy2001]

I cancelled one time w/the insurance. of course' date=' I lost the cost I had paid for that insurance, but did get everything refunded on the actual cruise.[/quote']

 

What insurance company did you use? Other posters here (as well as Insure My Trip) all claim that cancel for any reason insurance that gives a 100% refund does not exist.

[6rugrats]

What insurance company did you use? Other posters here (as well as Insure My Trip) all claim that cancel for any reason insurance that gives a 100% refund does not exist.

Did you read post #5?

[cruiseco]

What insurance company did you use? Other posters here (as well as Insure My Trip) all claim that cancel for any reason insurance that gives a 100% refund does not exist.

 

The poster may have purchased a Cancel For Any Reason plan but if he/she cancelled for a COVERED reason the plan would pay 100% of the insured loss. The less-that-100% payout that these CAR plans have only applies if the cancellation is for a reason not otherwise covered by the plan wording.

[sirwired]

I cancelled one time w/the insurance. of course' date=' I lost the cost I had paid for that insurance, but did get everything refunded on the actual cruise.[/quote']

 

Did you file an Any Reason claim, or was it a covered reason (which entitles you to a 100% refund.)

[mitsguy2001]

Maybe the other question I should ask: some people claim that insurance exists that will give a 100% refund if you cancel for a work-related reason, and it's less expensive than cancel for any reason insurance. Does such insurance exist, and what do they consider a work related reason, and how do you prove it? There are at least 4 scenarios that could require me to cancel for work-related reasons. Would the insurance cover any of these?

 

1. I get laid off from my job. I get hired at a new job, but they won't let me use any vacation time for a year.

 

2. I get laid off from my job. I do not get hired at a new job before the date of the cruise, and can no longer afford to go on the cruise (I'd have enough money to pay for it, but it would not be a wise thing to spend my money on at that point).

 

3. My wife (who is currently unemployed) gets hired at a new job, but they won't let her use any vacation time for a year.

 

4. My employer tells me that I'd have to cancel the cruise due to work deadlines.

 

If cancel for work reason insurance does exist, would it cover these 4 scenarios? Thank you.

[6rugrats]

Your going to have to read policies to answer your questions. The covered reasons vary by policy and what's available in different states. For Travelguard in my state, here's what it says if you want to purchase "Cancel for Work" Reasons:

 

Cancel for Work Reasons coverage applies only if the insurance was purchased within 15 days of Initial Trip Payment. If the Cancel for Work Reasons has been purchased, coverage will be extended for these additional Unforeseen events if the Insured ('s) or a Traveling Companion('s):

(1) is required to work during his/her scheduled Trip. He/she must provide proof of requirement to work, such as a notarized statement signed by an officer of his/her employer. In the situation of self employment, proof of self-employment and a notarized statement confirming that the Insured is unable to travel due to his or her job obligations will be required.

(2) is directly involved in a merger, acquisition, government required product recall, or bankruptcy proceedings and must be currently employed by the company that is involved in said event;

(3) company is deemed to be unsuitable for business due to burglary, or Natural Disaster and the Insured or Traveling Companion is directly involved as a Key Employee of the disaster recovery team.

 

For the Platinum Plan in my state, this coverage cost an additional $27.00. I don't see where being laid off and no longer able to afford the trip is covered by this plan.

[cruiseco]

Maybe the other question I should ask: some people claim that insurance exists that will give a 100% refund if you cancel for a work-related reason, and it's less expensive than cancel for any reason insurance. Does such insurance exist, and what do they consider a work related reason, and how do you prove it? There are at least 4 scenarios that could require me to cancel for work-related reasons. Would the insurance cover any of these?

 

1. I get laid off from my job. I get hired at a new job, but they won't let me use any vacation time for a year.

 

2. I get laid off from my job. I do not get hired at a new job before the date of the cruise, and can no longer afford to go on the cruise (I'd have enough money to pay for it, but it would not be a wise thing to spend my money on at that point).

 

3. My wife (who is currently unemployed) gets hired at a new job, but they won't let her use any vacation time for a year.

 

4. My employer tells me that I'd have to cancel the cruise due to work deadlines.

 

If cancel for work reason insurance does exist, would it cover these 4 scenarios? Thank you.

 

Many plans will cover most of these situations. #1 and #3 probably would only be covered under a Cancel For Any Reason plan as taking a job requiring your having to wait a year to be eligible for vacation time is your/her choice. If you were laid off AFTER booking the trip and buying the insurance you might be covered depending on the plan (see below) but if you choose to book the trip and buy the insurance while unemployed you probably won't unless you bought a CAR plan.

 

Here's a couple of work-related covered reasons fro trip cancellation from TravelSafe (the ordinary coverage, not requiring any additional premium):

 

"p) You or Your Traveling Companion are required to work during the Trip. A written statement by a company officer and/or the Human Resources department demonstrating revocation of previously approved time off will be required; "

 

"c) Your or Your Traveling Companion's place of employment is rendered unsuitable for business due to fire, flood, burglary or other natural disaster and You and/or Your Traveling Companion are required to work as a result; "

 

"e) a permanent transfer of employment of 250 miles or more;"

 

"k) involuntary employer termination or layoff affecting You or a person(s) sharing the same room with You during Your Trip. Employment must have been with the same employer for at least 1 continuous year; "

 

Many plans offer similar coverage. Some require an additional premium for some of these benefits, others do not.

[sirwired]

As a side-note, which policies have Work Reasons riders available for no additional charge varies by state of residency. With some states, it's part of the standard policy, in others it's part of early-purchase complimentary add-ons, with yet others it's an added-cost rider.

 

As far as the list of reasons go:

 

1) Usually covered as long as the layoff happens after the policy is effective. (Note: Layoff coverage sometimes has a waiting period and minimum employment length.)

2) Usually covered.

3) Not covered. However, many (if not all) employers will allow new employees to take unpaid leave if they have insufficient vacation.

4) Usually covered; documentation requirements vary.

[mitsguy2001]

Many plans will cover most of these situations. #1 and #3 probably would only be covered under a Cancel For Any Reason plan as taking a job requiring your having to wait a year to be eligible for vacation time is your/her choice. If you were laid off AFTER booking the trip and buying the insurance you might be covered depending on the plan (see below) but if you choose to book the trip and buy the insurance while unemployed you probably won't unless you bought a CAR plan.

 

Here's a couple of work-related covered reasons fro trip cancellation from TravelSafe (the ordinary coverage, not requiring any additional premium):

 

"k) involuntary employer termination or layoff affecting You or a person(s) sharing the same room with You during Your Trip. Employment must have been with the same employer for at least 1 continuous year; "

 

I don't quite understand that. Does that mean that I would have to cancel immediately after being laid off? Even if there is a chance that I'd be able to find a new job that would allow me to take the cruise? If I get laid off and then someone else hires me, are you saying that will no longer cover me, even if the job that hires me won't allow me to take the vacation?

[cruiseco]

I don't quite understand that. Does that mean that I would have to cancel immediately after being laid off?

 

In general, the insurer will only cover your losses that were in place at the time the reason for the cancellation occurred. So, if you get laid off when the cruise line penalty is only 25% of the cruise fare but you wait to cancel until the penalty jumps to 100% of the cruise fare you're taking the risk that the insurer would only pay the penalties in effect as of the date you were laid off -- you'd eat the other 75%. Cancel, get reimbursed for your loss, then if you do get hired and can take the cruise re-book it.

 

If I get laid off and then someone else hires me, are you saying that will no longer cover me, even if the job that hires me won't allow me to take the vacation?

 

I'm not sure if I understand the question. Are you asking if you would be covered if the following occurs:

 

1) You book a cruise and buy the policy

2) You subsequently get laid off and don't cancel the cruise

3) Still before the cruise, you get hired to a new job and the new employer grants you the time off to take the cruise (be darn sure to get it in writing!)

4) The new employer at a later date revokes the previously-granted vacation time.

 

Are you asking if given that scenario the plan would still cover you? Looking at the TravelSafe plan I referred to earlier, I don't see why not but that sort of questions needs to be directed to whatever insurer you choose -- preferably by email so you get your answer in writing.

[mitsguy2001]

In general, the insurer will only cover your losses that were in place at the time the reason for the cancellation occurred. So, if you get laid off when the cruise line penalty is only 25% of the cruise fare but you wait to cancel until the penalty jumps to 100% of the cruise fare you're taking the risk that the insurer would only pay the penalties in effect as of the date you were laid off -- you'd eat the other 75%. Cancel, get reimbursed for your loss, then if you do get hired and can take the cruise re-book it.

 

 

 

I'm not sure if I understand the question. Are you asking if you would be covered if the following occurs:

 

1) You book a cruise and buy the policy

2) You subsequently get laid off and don't cancel the cruise

3) Still before the cruise, you get hired to a new job and the new employer grants you the time off to take the cruise (be darn sure to get it in writing!)

4) The new employer at a later date revokes the previously-granted vacation time.

 

Are you asking if given that scenario the plan would still cover you? Looking at the TravelSafe plan I referred to earlier, I don't see why not but that sort of questions needs to be directed to whatever insurer you choose -- preferably by email so you get your answer in writing.

 

No, what I was asking was about this scenario:

 

1) You book a cruise and buy the policy

2) You subsequently get laid off and don't cancel the cruise

3) Still before the cruise, you get hired to a new job

4) New employer does not allow you to go on the cruise. Either they have a waiting period before they allow you to use vacation time, or they do not allow time off during the time of year your cruise is booked, or for whatever reason, they just won't let you take the time off

 

Will you be covered in that case?

[cruiseco]

No, what I was asking was about this scenario:

 

1) You book a cruise and buy the policy

2) You subsequently get laid off and don't cancel the cruise

3) Still before the cruise, you get hired to a new job

4) New employer does not allow you to go on the cruise. Either they have a waiting period before they allow you to use vacation time, or they do not allow time off during the time of year your cruise is booked, or for whatever reason, they just won't let you take the time off

 

Will you be covered in that case?

 

Again, looking at that TravelSafe plan, I don't see how that would be covered. Here's the most applicable wording:

 

"p) You or Your Traveling Companion are required to work during the Trip. A written statement by a company officer and/or the Human Resources department demonstrating revocation of previously approved time off will be required;"

 

Since the time off was not previously granted there would be no basis for a claim under this provision. You would probably still be able to file a claim under the "lay off" provision but again you would most likely be limited to being reimbursed the penalty amount in effect as of the date of the layoff. Other plans might have different interpretations of how this would or would not work.

[mitsguy2001]

Again, looking at that TravelSafe plan, I don't see how that would be covered. Here's the most applicable wording:

 

"p) You or Your Traveling Companion are required to work during the Trip. A written statement by a company officer and/or the Human Resources department demonstrating revocation of previously approved time off will be required;"

 

Since the time off was not previously granted there would be no basis for a claim under this provision. You would probably still be able to file a claim under the "lay off" provision but again you would most likely be limited to being reimbursed the penalty amount in effect as of the date of the layoff. Other plans might have different interpretations of how this would or would not work.

 

Though you could argue that your previous employer approved the time off and your new employer revoked it.

 

Unfortunately, it sounds like the cancel for work reason insurance might not be an option for what I'm looking for. It's frustrating.

[klfrodo]

Though you could argue that your previous employer approved the time off and your new employer revoked it.

 

Unfortunately, it sounds like the cancel for work reason insurance might not be an option for what I'm looking for. It's frustrating.

 

Question

 

Do you already know that you're going to get laid off?

That could very well be a deciding factor for you. Insurance would not cover you for a known upcoming event, unless you purchase the insurance before the event is publicly announced.

[6rugrats]

Though you could argue that your previous employer approved the time off and your new employer revoked it.

But, in this case, I'm not sure this matters. It's only what your new employer says. Your new employer wouldn't ever have given you permission for time off, thus they didn't revoke it.

Unfortunately, it sounds like the cancel for work reason insurance might not be an option for what I'm looking for. It's frustrating.

 

Don't think you are going to find a reasonably priced policy that will cover you at 100% for every eventuality.

[mitsguy2001]

Question

 

Do you already know that you're going to get laid off?

That could very well be a deciding factor for you. Insurance would not cover you for a known upcoming event, unless you purchase the insurance before the event is publicly announced.

 

No, I do not already know that I'm going to get laid off (if I did, I wouldn't be booking a cruise, and I'd be looking for a new job). I'm just saying that given the economy, any of us could get laid off.

[mitsguy2001]

But, in this case, I'm not sure this matters. It's only what your new employer says. Your new employer wouldn't ever have given you permission for time off, thus they didn't revoke it.

 

Don't think you are going to find a reasonably priced policy that will cover you at 100% for every eventuality.

 

Yeah, that's what's frustrating. If I am forced to cancel, the cruise line can and will re-sell my cabin. It's another example of the "little guy" getting screwed.

[cruiseco]

Yeah, that's what's frustrating. If I am forced to cancel, the cruise line can and will re-sell my cabin. It's another example of the "little guy" getting screwed.

 

Just out of curiosity, if you ran a cruise line what, if any, cancellation penalties would you impose? Especially for cancellation within the last 14 days prior to sailing?