Insurance and Reward Certs?

[star7228]

Hi all,

 

This may have been asked before, and I apologize, but I couldn't find it in the searches.

 

I am working out my insurance coverage for our trip, and I'm not sure whether to "insure" the amount of my reward certs, which is $1500. I read the back of them and it mentions that the points can be redeposited if NCL or Star Cruises cancels the cruise.

 

Normally, it seems trip insurance is based on the amount you pre-pay, bascially the amount you'd be out if you had to cancel the trip. If I did have to cancel, could I "redeposit" my reward certificates?

 

The price difference is about $100...around $300 if the amount I insure doesn't include the certs, and about $400 if I include the amount of the certs. I don't know what to do! :) I am unclear on BofA's policy on that one.

 

Thanks so much, hope this wasn't confusing. :)

[weloverunning]

Hi Star: I recently purchased insurance (something I usually don't do) after also using $2000 in compass rewards. I insured the trip for the amount it would cost to schedule another total cruise if necessary. Just because NCL or NCLA would redeposit your points if they cancelled a cruise, they would not do the same if you had to cancel or end the trip early because of your sickness or injury etc. I look at it as the money I saved by using the rewards more than covered insurance.

P.S. Our insurance cost $234 total for 7 of us at $950 cost pp for the cruise. How does that compare to yours?

[star7228]

Hi Star: I recently purchased insurance (something I usually don't do) after also using $2000 in compass rewards. I insured the trip for the amount it would cost to schedule another total cruise if necessary. Just because NCL or NCLA would redeposit your points if they cancelled a cruise, they would not do the same if you had to cancel or end the trip early because of your sickness or injury etc. I look at it as the money I saved by using the rewards more than covered insurance.

P.S. Our insurance cost $234 total for 7 of us at $950 cost pp for the cruise. How does that compare to yours?

 

Thanks rpbcouple! I think that's probably good advice. :) Ours is more expensive (just the 2 of us) because we booked a suite and the total trip cost is pretty expensive. I wish it wasn't based on the cost of the trip, :) but it makes sense.

 

Thanks again! I wonder if I had to cancel because of illness or injury and I just wanted to transfer to another cruise, do you think NCL would allow me to transfer that voucher credit? I would never just cancel a cruise...I'd rebook! :D

 

I wonder if NCL would be more flexible with the vouchers then...anyone had experience with that?

[CRUZIN TOM]

Insurance costs are based on the price of the total trip. You can get it for just the cruise itself or you can include your air travel. the costs for each person are dependent on the ages of each person. The prices range alot. The older you are (like me) the higher the premium. That is why they ask the age of each person when getting the insurance. An older person is more likely to get sick and have to change plans versus a young person. the price you got is very good. Considering you are covering a total cost of $6650. Not bad.:)

[jmcdon7230]

You can compare many policies at this website:

 

http://www.insuremytrip.com/

[candydane]

One insurance that does not factor in the age of the travelers or the cost of the trip is STA Travel Insurance. Instead, the premium is based on how many days you'll be gone from home.

 

We saved a lot of money on our premiums for our upcoming Tahitian Princess cruise/airfare. Because of our ages and that we're in an OS suite and the airfare is expensive, any other travel insurance was hundreds of $$ each.

 

I read some good CC member reviews of STA insurance on the "Ask A Question" CC message board. It's backed by Berkeley Care, which also does Princess insurance and other cruiselines and airline insurance.

[star7228]

One insurance that does not factor in the age of the travelers or the cost of the trip is STA Travel Insurance. Instead, the premium is based on how many days you'll be gone from home.

 

We saved a lot of money on our premiums for our upcoming Tahitian Princess cruise/airfare. Because of our ages and that we're in an OS suite and the airfare is expensive, any other travel insurance was hundreds of $$ each.

 

I read some good CC member reviews of STA insurance on the "Ask A Question" CC message board. It's backed by Berkeley Care, which also does Princess insurance and other cruiselines and airline insurance.

 

Interesting...do you know why they don't consider the age/cost of the trip? Or why they can be so much cheaper? Just curious. :)

[candydane]

Here's what I read on earlier CC member posting and the general answer I got when I called STA with the same question. Plus I verified that age or cost is not a factor. There is nothing about either one in the policy I got so seems safe to say that they really aren't. :D

 

All insurance policy structures and premiums are established based on the expected users and can vary drastically for the probable travel needs of the users. The STA policy premium setup was apparently based on the assumption that (since the policy is being sold by a discount online student travel organization) most of the users would be young students "schlupping" around the country, travelling "on the cheap" and staying at hostels or other low cost housing.

 

At least so far STA has not changed the policy eligibility requirements and hopefully won't in the future because it's such a good deal. Obviously they're not losing money on policy payouts.