Final Payment Date....Help me figure this out please

[monctonmama]

Agent is still saying Aug is the deadline. But I don't agree, so will discuss with them again next week.

 

I also don't agree with putting insurance in place right now, which is quoted at about 600.00 just to recoup the 500.00 deposit. That just does not make sense to me. I am willing to risk losing the 500.00.

 

And when I make the final payment, about Sep 1 just to be safe for the Sep 8 deadline, then I will buy insurance. Is that the way most of you do this?

 

Thanks.

[LHT28]

Agent is still saying Aug is the deadline. But I don't agree, so will discuss with them again next week.

 

I also don't agree with putting insurance in place right now, which is quoted at about 600.00 just to recoup the 500.00 deposit. That just does not make sense to me. I am willing to risk losing the 500.00.

 

And when I make the final payment, about Sep 1 just to be safe for the Sep 8 deadline, then I will buy insurance. Is that the way most of you do this?

 

Thanks.

 

I usually pay by CC a few days before final payment is due ...my TA reminds me about a week ahead

 

That sounds like a lot for insurance ....is that for trip cancellation & medical??

 

Lyn

[hondorner]

A year ago, I paid almost $1,500 to insure $500 - and it was worth every penny. I wanted to be certain we'd have a waiver for pre-existing conditions, so I insured the amount at which I was at risk, within the certain time after the deposit. The deposit was almost $20,000 but we were only at risk for $250 each. The cruise is not until 2015, but last week we paid an additional insurance fee of nearly $13,000 to cover the final payment of nearly $80,000, which we paid about 3 weeks ago.

 

There are a lot of things to take into account.

[rallydave]

A year ago, I paid almost $1,500 to insure $500 - and it was worth every penny. I wanted to be certain we'd have a waiver for pre-existing conditions, so I insured the amount at which I was at risk, within the certain time after the deposit. The deposit was almost $20,000 but we were only at risk for $250 each. The cruise is not until 2015, but last week we paid an additional insurance fee of nearly $13,000 to cover the final payment of nearly $80,000, which we paid about 3 weeks ago.

 

There are a lot of things to take into account.

 

Don is absolutely correct. It is extremely important to check on when you have to make payment in order to cover pre-existing conditions. Usually paying at final payment is too late.

 

And, most insurance policies allow one to increase coverage as you make final payment so for the OP, she could have bought enough insurance to cover the $750 deposit which should have been a minimal amount and then at final payment increased the amount of insurance to cover the entire trip thus having pre-existing issues completely covered for the full value of the cruise. Waiting until final payment in most cases allows pre-existing conditions to eliminate coverage. Remember, insurance companies are in business to make money and will use any and all clauses in your insurance contract to avoid paying out for cancellations and other issues.

[LHT28]

It is best to read the fine print of the policy you are planning to buy

 

Everyone's situation is different not everyone will have a pre existing condition

[rallydave]

It is best to read the fine print of the policy you are planning to buy

 

Everyone's situation is different not everyone will have a pre existing condition

 

You are absolutely correct Lyn, the problem is that no one knows when something might occur that could be considered a pre-existing condition prior to purchasing the policy that won't be covered if something else occurs after you purchase the policy and the previous condition voids payments from the insurance company.

 

Risking a very small amount at the beginning only covering the deposit is a cheap way to protect about surprises later on.

Edited August 3, 2014 by rallydave

[hondorner]

To give a somewhat silly example, lets say the Lookback Period on your trip insurance is 180 days (it varies by insurer). Then, let's say you break your arm 120 days before the cruise.

 

Now let's say you have a stroke 5 days before the cruise, caused by an embolism in your arm. Could the insurer try to claim the broken arm precipitated the clot, and is therefore a pre-existing condition?

 

I'm not a doctor so I can't answer that, but my take is the insurer would surely try. Stranger things have happened. Buying the insurance within 24 hours or 14 or 21 days from initial payment, insuring a minimum amount at a minimum cost, is certain protection. Just be certain to increase the insurance at final payment.

 

Insuremytrip.com now has a login procedure so you can check the status of your policy at any time.

[jo-b]

To give a somewhat silly example, lets say the Lookback Period on your trip insurance is 180 days (it varies by insurer). Then, let's say you break your arm 120 days before the cruise.

 

Now let's say you have a stroke 5 days before the cruise, caused by an embolism in your arm. Could the insurer try to claim the broken arm precipitated the clot, and is therefore a pre-existing condition?

 

I'm not a doctor so I can't answer that, but my take is the insurer would surely try. Stranger things have happened. Buying the insurance within 24 hours or 14 or 21 days from initial payment, insuring a minimum amount at a minimum cost, is certain protection. Just be certain to increase the insurance at final payment.

 

Insuremytrip.com now has a login procedure so you can check the status of your policy at any time.

 

 

I am wondering if there is a differnce between the UK and USA in the Travel Insurance market. As we travel a fair amount we have annual insurance that rolls over year to year aon the basis that we advise of any changes in health issues or medication as they arise.

 

is this not available in US?

 

A new question is now being asked here also about the health of anyone on whom your holiday depends, this has caused a few issues when for example a parent dies or is taken ill and the children were not aware of a pre existing condition.