The price is wrong

[zitsky]

Looking for any suggestions for how to reduce cost of insurance but still getting good coverage.  I previously paid $338 for a cruise costing $8,000 not including airfare that we paid with points.  I'm now researching trip insurance for a $21,000 cruise *including* airfare.  Quotes are between $1,000 to $1,600.

 

We have our own medical insurance (but does not include Medical Evacuation).  Mostly worried if my in-laws get sick as they are getting more frail and have some health problems that could put them in a hospital (worst case).

 

I think if we can find something with trip cancellation we should be OK.  And most plans include both trip interruption and trip cancellation.  In a perfect world we would get cancel for any reason, but that is much more expensive and not all companies offer that.

 

Any suggestions would be appreciated.  Trip is not until late September.  Final payment is in about a month.

[klfrodo]

What cancellation coverage do you have thatis Probably included with the credit card you used to pay for the trip?

[zitsky]

18 minutes ago, klfrodo said:

What cancellation coverage do you have thatis Probably included with the credit card you used to pay for the trip?

 

Credit card covers $4,000

 

Trip cost $21,000

 

That's why I need extra coverage.

[cherylandtk]

You can find third party trip cancellation coverage for about 6-8% of the cruise cost, depending on age.  You’re in the ballpark for what you want to purchase.  This will also include medical (which you don’t need) and evacuation coverage (which you do).  The biggest cost in a comprehensive plan is the cancellation portion...based purely on age and cost of trip being insured.  So there you are.

 

Read any policy you are considering (the full Description of Coverage) to determine if the elderly parents, as non-travelong family members, are subject to the Pre Existing Conditions clauses. A better choice would be a policy that does not apply the PEC exclusions to family members at home.

 

Also, do be aware that most policy definitions have wording to the effect that your presence is required should the parents take ill.  Not that you want to be with them, that the doctor requires someone else to be with one or both to care for them and you are the only ones available.  This section trips up many folks who cancel a cruise out of wanting to be nearby, but find it is not a covered reason.

[GeezerCouple]

47 minutes ago, cherylandtk said:

You can find third party trip cancellation coverage for about 6-8% of the cruise cost, depending on age.  You’re in the ballpark for what you want to purchase.  This will also include medical (which you don’t need) and evacuation coverage (which you do).  The biggest cost in a comprehensive plan is the cancellation portion...based purely on age and cost of trip being insured.  So there you are.

 

Read any policy you are considering (the full Description of Coverage) to determine if the elderly parents, as non-travelong family members, are subject to the Pre Existing Conditions clauses. A better choice would be a policy that does not apply the PEC exclusions to family members at home.

 

Also, do be aware that most policy definitions have wording to the effect that your presence is required should the parents take ill.  Not that you want to be with them, that the doctor requires someone else to be with one or both to care for them and you are the only ones available.  This section trips up many folks who cancel a cruise out of wanting to be nearby, but find it is not a covered reason.

 

We have a *very* elderly MIL (almost 100), and we take out CFAR coverage (Cancel For Any Reason) mostly because of her (but we have other reasons as well).

 

It would only pay out 75% cash back, but that's better than nothing.

 

This way, IF before we left (or after we already left) she mumbled something like, "I'm not feeling right" (which she NEVER says, quite the opposite), we might decide that... well... this is a time we don't want to leave her...

At that age.........

 

IF a physician said, "Um, you should stay *now* - or return..." then that would be covered 100% under our policy.

 

GC

[zitsky]

Hard to find CFAR and very expensive.   Found one that has it but was hard to verify even after a phone call.

Edited February 22, 2019 by zitsky

[GeezerCouple]

3 minutes ago, zitsky said:

Hard to find CFAR and very expensive.   Found one that has it but was hard to verify even after a phone call.

 

Have you contacted an insurance broker such as www.TripInsuranceStore.com ?

 

CALL them, rather than trying to read the short online summaries.  The fine print can really matter.

 

Most of the policies we've considered can include CFAR.

And now, the CFAR "cancel" also includes "interruption" as well, which is even better.

 

Some policies charge more for that option than others.

 

GC

[zitsky]

37 minutes ago, GeezerCouple said:

 

Have you contacted an insurance broker such as www.TripInsuranceStore.com ?

 

CALL them, rather than trying to read the short online summaries.  The fine print can really matter.

 

Most of the policies we've considered can include CFAR.

And now, the CFAR "cancel" also includes "interruption" as well, which is even better.

 

Some policies charge more for that option than others.

 

GC

 

Yes I've made calls.  No I haven't called that website.  Yes I read the fine print.

Edited February 22, 2019 by zitsky

[GeezerCouple]

39 minutes ago, zitsky said:

 

Yes I've made calls.  No I haven't called that website.  Yes I read the fine print.

 

My point wasn't to make sure to read the fine print in those summaries, but that the online summaries are just that -- summaries, and they do *not* contain all of the information (both potential gotchas and also features that might be of special interest).

There's no way all the terms can fit in those summaries.

 

Good luck!

 

GC

[zitsky]

20 minutes ago, GeezerCouple said:

 

My point wasn't to make sure to read the fine print in those summaries, but that the online summaries are just that -- summaries, and they do *not* contain all of the information (both potential gotchas and also features that might be of special interest).

There's no way all the terms can fit in those summaries.

 

Good luck!

 

GC

 

I guess I wasn't clear.  I don't read the summaries.  I read the policy, what you call the fine print.

[GeezerCouple]

1 minute ago, zitsky said:

 

I guess I wasn't clear.  I don't read the summaries.  I read the policy, what you call the fine print.

 

If you've read the full policies for many of the policies (or just those on TIS's website, even), then you'd have seen the CFAR coverage options.

But there is often more than one policy from each insurer, so perhaps that is part of the difficulty you've encountered finding CFAR coverage?

 

GC

[zitsky]

I have found just a very few CFAR policies.  I have to make more phone calls to confirm.  So I am not close to being done.  Tomorrow I will probably call AAA to ask about their CFAR policy.

[GeezerCouple]

1 minute ago, zitsky said:

I have found just a very few CFAR policies.  I have to make more phone calls to confirm.  So I am not close to being done.  Tomorrow I will probably call AAA to ask about their CFAR policy.

 

I guess I don't understand why you aren't calling an insurance broker.

They don't charge more than you'd pay for the same policy direct from the insurer, and they can quickly give you information (and comparisons) about several different policies from a variety of insurers.

They won't have info about *all* such policies, but it's an easy starting place for a variety of the commonly desired types of policies (and CFAR and also inclusion of pre-existing conditions tend to be among the most frequently discussed).

 

GC

[zitsky]

12 minutes ago, GeezerCouple said:

 

I guess I don't understand why you aren't calling an insurance broker.

They don't charge more than you'd pay for the same policy direct from the insurer, and they can quickly give you information (and comparisons) about several different policies from a variety of insurers.

They won't have info about *all* such policies, but it's an easy starting place for a variety of the commonly desired types of policies (and CFAR and also inclusion of pre-existing conditions tend to be among the most frequently discussed).

 

GC

 

Is insuremytrip an insurance broker?  Because I have called them.  There are others I have not called yet.  I liked insuremytrip because they have an Advocate program to help when submitting a claim.  I have looked at tripinsurancestore but have not called them yet.

[cherylandtk]

Yes, IMT is an insurance broker.

[SPacificbound]

I recommend calling The Trip Insurance Store  https://tripinsurancestore.com/tripinsurancestore-customer-service/

[zitsky]

6 minutes ago, SPacificbound said:

I recommend calling The Trip Insurance Store  https://tripinsurancestore.com/tripinsurancestore-customer-service/

 

Do you mind explaining why you recommend them?  Have you made a purchase?

[2Scots]

Question for experts here and I do intend to also call the Trip Insurance Store as well.

 

Q: When should we buy Medical, cancellation and evacuation policies if we purchased the "Refundable"  RCI deposit for our trip in September?  Our final payment is in June.

 

Thank you.

[SPacificbound]

15 minutes ago, zitsky said:

 

Do you mind explaining why you recommend them?  Have you made a purchase?

 

Yes I have. They will take the time to listen to what you need and they have a lot of knowledge about the different intricacies of trip insurance, so you get real knowledge,  not a sales pitch.

[klfrodo]

On ‎2‎/‎24‎/‎2019 at 5:30 PM, 2Scots said:

Question for experts here and I do intend to also call the Trip Insurance Store as well.

 

Q: When should we buy Medical, cancellation and evacuation policies if we purchased the "Refundable"  RCI deposit for our trip in September?  Our final payment is in June.

 

Thank you.

 

Depends.

If you have medical conditions that meet the clause for "Pre-Exsisting" medical conditions coverage or Cancel For Any Reason coverage, then you would have been required to buy at ~15 days after you made your first deposit on the trip. (An insurance company called CSA does allow you to purchase up to final payment)

 

Otherwise, if there are no health concerns, you can buy anytime. Or,,, not at all. That would be called Self Insure. Many people look deeply into their work provided medical coverages, the coverage built into their credit card, and determine their own risk tolerance level. Some people also manipulate their 3rd party insurance coverage to include medical and evacuation coverage and just risk the cancellation.