When to buy insurance for future cruise?

[MidwestOceanToo]

I booked last week for a cruise in April of 2022.  I have not yet purchased insurance for the trip. Should I purchase it immediately or wait until closer to the date?  I will most likely purchase travel insurance from a third party company for the increased medical and evacuation amounts.

It is a transatlantic cruise, the amount to be added to trip cost for flights is yet to be determined. We will both be 66 years of age at the time of the cruise.

I know it is not a major amount of money for the premium, but should we wait to purchase insurance now or wait and not let the insurance company work with our money for nearly two years?

Thank you. 

[Roger88]

Not sure about what kind of insurance are you talking about. If its the general insurance then I am not sure how it is going to help you. If you have already purchased it then its very risky, what if the insurance company goes bankrupt or something? or if a cruise company will insist on some aditional insurance above the one you have already bought? You will have to pay extra.. 

[MidwestOceanToo]

6 minutes ago, Roger88 said:

Not sure about what kind of insurance are you talking about. If its the general insurance then I am not sure how it is going to help you. If you have already purchased it then its very risky, what if the insurance company goes bankrupt or something? or if a cruise company will insist on some aditional insurance above the one you have already bought? You will have to pay extra.. 

I'm referring to insurance for traveling outside of the U.S.  To cover medical, trip delay, etc. Purchasing it from an alternative source other than the policy offered by the cruise company.  I hadn't read where the cruise lines are requiring insurance. Is that a recent development?  From the horror stories on these boards of people traveling without it, I don't think it has been required in the past. 

[klfrodo]

1 hour ago, MidwestOceanToo said:

I booked last week for a cruise in April of 2022.  I have not yet purchased insurance for the trip. Should I purchase it immediately or wait until closer to the date?  I will most likely purchase travel insurance from a third party company for the increased medical and evacuation amounts.

It is a transatlantic cruise, the amount to be added to trip cost for flights is yet to be determined. We will both be 66 years of age at the time of the cruise.

I know it is not a major amount of money for the premium, but should we wait to purchase insurance now or wait and not let the insurance company work with our money for nearly two years?

Thank you. 

If you have pre-existing medical conditions or if you have non traveling family members with pre-existing medical conditions or if you will be buying a policy with CFAR (Cancel For Any Reason) coverage, then typically, most travel insurance policies require you to buy the policy within XX number of days after initial deposit (Usually 14 to 21 days) each policy varies..

You can buy today and only cover the deposit amount, then as you add airfare and other non refundable expenses, you can call and have these additional non refundable expenses added to your policy and pay the extra cost at that time.

[iamtrustworthy]

4 hours ago, MidwestOceanToo said:

I booked last week for a cruise in April of 2022.  I have not yet purchased insurance for the trip. Should I purchase it immediately or wait until closer to the date?  I will most likely purchase travel insurance from a third party company for the increased medical and evacuation amounts.

It is a transatlantic cruise, the amount to be added to trip cost for flights is yet to be determined. We will both be 66 years of age at the time of the cruise.

I know it is not a major amount of money for the premium, but should we wait to purchase insurance now or wait and not let the insurance company work with our money for nearly two years?

Thank you. 

Hi MidwestOceanToo,

 

With most policies you can insure just the deposit within 14 - 21 days after your initial deposit date to have the pre-existing coverage. As you prepay more trip costs, you must increase the insurance coverage any time (as long as nothing has happened where you would file a claim) before but not later than the 14 - 21 days of adding any additional trip costs above what has been insured to keep the pre-existing conditions coverage.

 

This mostly doesn't work when you are getting the Cancel For Any Reason (CFAR) coverage because of how companies define what needs to be insured to have the CFAR.

 

Steve Dasseos