Best insurance company for cancel for any reason insurance?

[newbie202020]

We're cruising with Cunard if that matters and are looking for cancel for any reason insurance for both BC and Ontario residents. Booked refundable cruise over 2 weeks ago for July 2024 departure. I don't have experience with cruise insurance and was thinking of buying both CFAR and medical insurance when we put down full payment in early March. Is there a reason to buy earlier since our deposit is refundable?

 

Any advice on when to buy insurance or recommendations of insurance providers would be much appreciated. Thanks

[Mbcruiser704]

Following

[gnome12]

CAA travel insurance requires you to purchase the cancellation insurance within a few days of booking the trip, so you are probably out of luck with them. The CFAR coverage is only 50% of the total (75% if you purchase the travel through CAA Travel). 

[lx200gps]

Manulife also advertise a CFAR option, it may be worth looking in to.  Apparently the top plan gives 80% back, but as pointed out above, this kind of insurance needs to be bought very soon after the trip is booked.

 

https://www.igoinsured.com/Direct/ManulifeGlobal.aspx?ag=PAYLTHL&lang=E

 

If you simply change your mind and no longer wish to travel, we will give you up to 80% of the non-refundable trip cost if you cancel 7 days prior to departure. If you cancel 6 days to 24 hours prior to departure we will give you up to 80% refund up to a maximum of $2,500.

 

While it's no use to you as a Cunard customer, the best CFAR coverage I've ever seen is offered by Princess. 100% back, no questions asked, up to the day of departure.  We bought it for every trip for years, until it stopped being available in Quebec.

[REDSTRIPETYPE]

Done a lot of research and have used Costco manulife for past 10 cruises...2 years ago broke leg playing hockey 10 days prior to 21 day cruise and surgeon said couldn't fly for 90 days...metal hardware inserted....Manulife refunded $10,000 without a hitch

[gnome12]

2 minutes ago, REDSTRIPETYPE said:

Done a lot of research and have used Costco manulife for past 10 cruises...2 years ago broke leg playing hockey 10 days prior to 21 day cruise and surgeon said couldn't fly for 90 days...metal hardware inserted....Manulife refunded $10,000 without a hitch

Yes, but that is cancellation for a covered reason. CFAR is cancellation without an insurable reason; you just changed your mind for some reason. 

[newbie202020]

Thanks for everyone's advice. I didn't realize that you have to buy CFAR insurance so soon after booking.

 

Does it make sense to buy insurance so far in advance of departure (eg I have booked 9 months in advance before) when the deposit is refundable? Doesn't it make sense to buy insurance when you make final payment with refundable deposit?

 

Wish we had more insurance providers like in the States.

[canadianbear]

4 minutes ago, newbie202020 said:

Thanks for everyone's advice. I didn't realize that you have to buy CFAR insurance so soon after booking.

 

Does it make sense to buy insurance so far in advance of departure (eg I have booked 9 months in advance before) when the deposit is refundable? Doesn't it make sense to buy insurance when you make final payment with refundable deposit?

 

Wish we had more insurance providers like in the States.

I totally agree. We used to buy HAL CFAR when we had elderly parents etc and would buy it before final payment.  
I don’t understand either when we have a refundable deposit why we’d have to buy it so far in advance. 
 

 

[CDNPolar]

9 hours ago, canadianbear said:

I don’t understand either when we have a refundable deposit why we’d have to buy it so far in advance. 
 

 

 

9 hours ago, newbie202020 said:

Thanks for everyone's advice. I didn't realize that you have to buy CFAR insurance so soon after booking.

 

Does it make sense to buy insurance so far in advance of departure (eg I have booked 9 months in advance before) when the deposit is refundable? Doesn't it make sense to buy insurance when you make final payment with refundable deposit?

 

 

The insurance companies are going to "make you" buy the CFAR insurance at the point of booking, or usually within 10-14 days of booking because, refundable deposit or not, as you get closer to the departure day, full payment date, and penalties that may kick in after full payment, you may have found a reason that you want to use for cancellation and that is the sole reason you are now purchasing the policy.  They want your money for that 6 or 9 months or more before you take the CFAR for any reason option.

 

This insurance is such a game and gamble.

 

CFAR when coming from the Cruise Line, is a voucher for future use, and generally not a refund.

 

CFAR from an insurance company is generally a percentage payout of the full fare, if there is a cash back option and not the full fare.

 

None of us want to have a covered reason that is required by most insurance policies to cancel, because that in most cases is not a good reason.

 

We look at it this way because we often book 12-18 months out for most of our cruises, and we are not paying an insurance company that much that far out as we would likely be paying $1,200.00 for the both of us for the value of each cruise.  We can have 2 or 3 cruises booked in the future at any time.  That could mean that we are out of pocket 3-4K with money sitting with insurance companies.

 

Just as a note, we don't buy medical, and only cancellation and interruption insurance.  We have medical through work.

 

Our typical scenario:

 

* Refundable deposit - great

* Full payment due 6 months out

* First penalty 4 months or 120 days from sailing

 

This means that 121 days before sailing we can cancel and get all back but $100.00 per person with Viking Cruise lines.  This may be different with other cruise lines.

 

What we do is we make a final decision at 121 days out that other than an actual covered reason that qualifies under the insurance policy, we are going.  If there is doubt at all, then we would cancel and forfeit the $100 per person.

 

Hope this makes sense.  This is why we don't purchase CFAR.

 

[Florida_gal_50]

26 minutes ago, CDNPolar said:

 

 

The insurance companies are going to "make you" buy the CFAR insurance at the point of booking, or usually within 10-14 days of booking because, refundable deposit or not, as you get closer to the departure day, full payment date, and penalties that may kick in after full payment, you may have found a reason that you want to use for cancellation and that is the sole reason you are now purchasing the policy.  They want your money for that 6 or 9 months or more before you take the CFAR for any reason option.

 

This insurance is such a game and gamble.

 

CFAR when coming from the Cruise Line, is a voucher for future use, and generally not a refund.

 

CFAR from an insurance company is generally a percentage payout of the full fare, if there is a cash back option and not the full fare.

 

None of us want to have a covered reason that is required by most insurance policies to cancel, because that in most cases is not a good reason.

 

We look at it this way because we often book 12-18 months out for most of our cruises, and we are not paying an insurance company that much that far out as we would likely be paying $1,200.00 for the both of us for the value of each cruise.  We can have 2 or 3 cruises booked in the future at any time.  That could mean that we are out of pocket 3-4K with money sitting with insurance companies.

 

Just as a note, we don't buy medical, and only cancellation and interruption insurance.  We have medical through work.

 

Our typical scenario:

 

* Refundable deposit - great

* Full payment due 6 months out

* First penalty 4 months or 120 days from sailing

 

This means that 121 days before sailing we can cancel and get all back but $100.00 per person with Viking Cruise lines.  This may be different with other cruise lines.

 

What we do is we make a final decision at 121 days out that other than an actual covered reason that qualifies under the insurance policy, we are going.  If there is doubt at all, then we would cancel and forfeit the $100 per person.

 

Hope this makes sense.  This is why we don't purchase CFAR.

 

Hal gives you money back, not a future credit.  Princess gives you a future cruise credit unless it’s for a covered reason.  Things crop up closer to sailing in my experience than 120 days out so CFAR works for me.  If it doesn’t work for others so be it.

Edited February 5 by Florida_gal_50