klfrodo Posted October 3, 2018 #1 Share Posted October 3, 2018 My wife and I decided to take a quick trip to the DR. Went to http://www.tripinsurancestore.com to get some insurance pricing. My thoughts went something like this. Out of pocket is going to be about $6K My airline status allows me to make changes or cancellations without any fees. The other airline tickets are refundable. (Don't need to insure air) The rest of the trip, I can eat if something happens. (self insure and/or coverage included in credit card) What about medical? We are getting up there and 1 of us are prone to stubbing toes or tripping and falling. Okay, lets look at Medical only Full trip coverage was $390 If I inserted trip cost at $1, insurance was $91 If I inserted trip cost at $501, insurance jumped to $156 If I kept the trip cost at $500, premium dropped back to $91 By leaving the trip cost at $500, I at least have some coverage where the insurance pays out the "Up to 100% Trip Cost" clauses. (trip cost of $1 would have meant a $1 claim instead of a $500 claim) So, end of the day, Wife and I have Primary out of country medical, evac, and repatriation coverage for 1 week for $91. (We also have Medjet Assist and are aware of its limitations) No, no pre-existing condition coverage (Have to cover full trip cost for that coverage) What did I learn? Check your credit cards for any Cancellation coverage Look at the out of pocket risks. Can you financially absorb a $2K hit? What about a $5K hit? Look at medical. Can you absorb a $50K hit Compare policies (look for the 1 that fits your needs) Link to comment Share on other sites More sharing options...
buggins0402 Posted October 3, 2018 #2 Share Posted October 3, 2018 Some insurers have a “gotcha” clause which require the all non refundable costs be insured for certain benefits. I’m assuming this wasn’t the case, for medical and the small cancellation benefit. If not, I like the idea. Heck, $500 cancellation is better than nothing. Does the cancellation include a pre-existing waiver? Link to comment Share on other sites More sharing options...
klfrodo Posted October 3, 2018 Author #3 Share Posted October 3, 2018 Does the cancellation include a pre-existing waiver? No, that would require ALL non refundable costs to be insured. I’ll accept that risk. Link to comment Share on other sites More sharing options...
buggins0402 Posted October 3, 2018 #4 Share Posted October 3, 2018 OK, think I’ve got it. Cancellation would be an add on for those with a low CC non waiver benefit, or an add on for those without that benefit. But, they would get assured medical Primary. Link to comment Share on other sites More sharing options...
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