Why we should consider trip insurance

[nbsjcruiser]

What company do you purchase insurance through ? Do you go directly through Royal Caribbean? Or use a different Company?

 

I have insurance through work and I have insurance offered as part of my yearly fee for our Capital One Mastercard. I have to say, both companies were fantastic in dealing with our son's unexpected illness in Florida this past year. No bills out of pocket and they dealt 100% with the hospital. It was like I was back home in Canada. Just go to the hospital and leave when they were done, no bills to worry about. Oh, there was one difference between the hospital in Florida and back here in Canada - No wait time. The ER room was practically empty. Walk in, register, sit down for 1-2 mins and then called inside to see the Doctor. That would never happen here. We'd be waiting at least 3-4 hrs, maybe longer depending on the circumstances.

[minsterman]

Originally Posted by sanger727 View Post

I've never bought travel insurance. As far as trip cancellation, I feel that I am self-insured and know how unlikely it is that I will cancel the trip (my work has contract guarantees for vacation time, no one in my family is in poor health, and if I broke my leg I'd hobble into the airport anyway and deal with it later). As far as medical insurance, all my medical insurance documents claim they will cover me internationally the same way they do at home. Of course I'm concerned about being stranded somewhere with crazy medical bills because there are all the clauses about needing things "pre-approved" and "medically necessary"; but all the travel insurances I have looked at contain those clauses too so I'm not sure that they would be any better to work with.

 

I pretty much agree with the OP.

 

Comments like those above seem, to me, pretty ignorant. There are hundreds of reasons to cancel that are not under your control, not always medical. Although I agree that the cancellation cost is relatively small compared to medical costs.

 

To a certain extent use don't actually lose financially anyway if the trip is cancelled as you were going to pay/have paid for it anyway so the money was already spent. Obviously you lose the enjoyment of the holiday.

 

Where the real risk is, is in medical emergencies, but of course not just the medical bills themselves. In Europe there is a European Health card that gives you the equivalent medical treatment in any EU country as the locals would receive.

 

This is good as it covers the worry of getting treatment. However, it doesn't cover, what could easily be hundreds or thousands in additional costs.

 

For example, if you have a travelling companion they may have hotel/travel/living costs to stay in a foreign country if you're in hospital there - that can easily add up to hundreds.

 

Whilst the EU card will pay for treatment, they won't pay for a medical flight to get you home - easily thousands.

 

I know a friend, who got knocked over by a car in Rome, was in coma for several days/weeks, his wife flew out to Italy to be with him, then he had to be medically flown back to the UK. The cost was thousands.

 

He wasn't insured.

 

He was unbelievably lucky financially, as he'd been travelling to support his local football (soccer) team to a foreign match and when the club heard of what had happened, they paid the bill!!!!

 

I'd go so far as to say that unless you can properly self insure (and I mean afford up to £200,000 for medical costs) you'd be stupid not to have insurance (whoever provides it).

 

We're quite lucky in the UK, we pay £120 ($180) for annual travel insurance for the 2 of us, which covers us anywhere in the world for cancellation and medical costs, including pre-existing medical conditions.

Edited June 15, 2015 by minsterman

[nbsjcruiser]

I've got 3 stories and they all happened to us while we were cruising

 

1. While trying to get to Miami for a cruise in February several years ago, a major storm caused flight cancellations all up the east coast. We arrived late after taking a taxi from Portland Maine to Boston and then on a flight to Miami. While hop skipping and jumping all over the place, our luggage was misplaced somewhere. We had to spend $1500 on new clothes and suitcases, $300 in cab fare to Boston and unscheduled hotels and meals - all covered by insurance.

 

2. In 2010 I was hit by a wave in Nassau and broke my collarbone. Ended up in the hospital on the ship then transported on to the Doctor's Hospital in Nassau - when I finally made it back to the ship we had incurred $2000 in Medical bills - all covered.

 

3. This past year our son woke up in Florida the day after we arrived for our Indy cruise with what ended up being Norovirus. Two trips to the hospital, cat scans, blood tests, prescriptions - over $5000. All covered by insurance.

 

Even young healthy people get hurt and get sick. I cant count how many times I've heard someone say they don't buy insurance because they're healthy. I was and so was my son. We would have been $7K in the hole and had I needed surgery for my collarbone, it would have easily been $20-$30K.

 

Anyone who doesn't get insurance is irresponsible in my books and is gambling with their financial future.

 

Oh, one other thing to note. When I was taken to hospital in Nassau for my collar bone I was told they didn't take insurance from out of country in any form. Credit card only. In fact, it was the first thing they asked for when I arrived at the hospital. Apparently, they got stiffed by insurance companies too many times. So that's another thing to consider.

[Creepella]

I don't bother with trip cancellation, since I would have spent several times the cost of any particular trip by now, and would have never made a claim. I have twice delayed a trip at the last moment, and both times, the vendor was happy to accept my money a couple of weeks later (neither was a cruise, though).

 

However, I will not leave my province without full travel medical. I am fortunate at the moment, to have that both through a credit card and through work, so I feel I am all set. :) Gamble the price of a trip, maybe a couple of thousand in expenses? Sure. Gamble foreign medical fees, repatriation, evacuation, etc? Not a chance. That one's too rich for my blood.

[Pesseh0729]

So now I'm stupid and irresponsible for not getting travel insurance [emoji20]

[Midwestgal]

The peace of mind it provides says it all for me.

[John&LaLa]

The peace of mind it provides says it all for me.

 

I enjoy my piece of mind 12 ounces at a time. ;)

[Creepella]

So now I'm stupid and irresponsible for not getting travel insurance [emoji20]

 

No, just much less risk-averse than many of us here.

[leisuretraveler223]

The peace of mind it provides says it all for me.

 

I hear that a lot. I'm curious what you mean. Are you talking about trip cancellation reimbursement? On board medical coverage? Overseas medical coverage? Or medical transport?

 

I ask, because the latter three are very important to me. But I'm pleased that I have health insurance that already covers overseas expenses, and I have a three year medical transport policy. As for the first one, I don't really get the "peace of mind" part, because it's pretty much money already spent. I mean, take the trip, don't take the trip as planned, either way, you're in the same financial situation. Whereas unexpected medical expenses can cause some serious hardship, missing out on a trip already paid for doesn't really do the same thing.

 

Just my perspective!

[griffy116]

SIL got called up suddenly for active duty, which was totally unexpected for his unit, and we were within the 30 days prior to our cruise.

 

Friend broke her leg on a rented scooter and had to have surgery to place a pin in her leg.

 

Friend got stranded at an airport due to the volcanic ash and couldn't get to their port for their cruise.

 

Gives us peace of mind and if you are young, the cost is minimal.

[leisuretraveler223]

SIL got called up suddenly for active duty, which was totally unexpected for his unit, and we were within the 30 days prior to our cruise.

 

Friend broke her leg on a rented scooter and had to have surgery to place a pin in her leg.

 

Friend got stranded at an airport due to the volcanic ash and couldn't get to their port for their cruise.

 

Gives us peace of mind and if you are young, the cost is minimal.

 

Anecdote number two (broken leg) makes a lot of sense to me. Having medical coverage is always important.

 

As for the other two, if it makes someone feel better to have those costs covered, then I guess it's worth it. But in the long run, reimbursement coverage is pretty much never a high quality investment. There are usually more efficient ways to invest.

[bouhunter]

Anecdote number two (broken leg) makes a lot of sense to me. Having medical coverage is always important.

 

As for the other two, if it makes someone feel better to have those costs covered, then I guess it's worth it. But in the long run, reimbursement coverage is pretty much never a high quality investment. There are usually more efficient ways to invest.

 

Well neither is a good dinner or a cruise, but the insurance might actually have a return on "investment".............

[leisuretraveler223]

Well neither is a good dinner or a cruise, but the insurance might actually have a return on "investment".............

 

Travel and dining is never an investment. Insurance against potential lost reimbursement is.

Edited June 15, 2015 by leisuretraveler223

[bouhunter]

Travel and dining is never an investment. Insurance against potential lost reimbursement is.

 

I believe it's debatable as to whether or not travel insurance is purely an "investment". Then it would be another debate as to the "quality" of it.:)

Edited June 15, 2015 by bouhunter

[tnt10]

Just realized that in my previous post, I neglected to add that we were reimbursed for the costs of the cruise as well. Since we always travel in suites, insurance is essential. The cost of the cruise alone is sizeable and well worth the cost of insurance, for us at least!

Happy Cruising,

tnt

[John&LaLa]

Just realized that in my previous post, I neglected to add that we were reimbursed for the costs of the cruise as well. Since we always travel in suites, insurance is essential. The cost of the cruise alone is sizeable and well worth the cost of insurance, for us at least!

Happy Cruising,

tnt

 

Is the premium higher? I would think it is a function of the cost

[CaptData]

In 2001 my husband and I booked a cruise for 20 Jan 2002. Our first cruise. He passed on Jan 12th 2002. Thanks to the medical insure that included trip cancellation when I cancelled On Jan 14th I got everything back and paid for his funeral from it. Insurance is not just for medical emergency that happen during the cruise.

 

I got a call at my hotel (per-cruise) that a family member passed suddenly (car accident). Insurance paid for my trip home (change cost plus the cruise).

 

My DD got sunburt and they kept her over night on board ship this cost almost $800.00. Insurance covered it even thought it is at time considered a self inflicted injury.

Edited June 15, 2015 by CaptData

[garycarla]

Buying cancellation insurance is often for the wrong reason. Most buy it because they can not AFFORD to pay $xxx for a cruise out of their pocket.

 

WRONG WRONG WRONG.

 

Apparently they can afford to pay for the cruise. They already did.

 

What they may not be able to afford is to EMOTIONALLY miss a cruise. Keep in mind that you actually pay LESS for a missed cruise than one you actually take.

 

Medical coverage is another story. And a big risk.

[mcatmcat]

No insurance for me even when I can afford it or not

 

If you are young and live a healthy balanced lifestyle you might get sick since you are not immune but if you never get a cold at least for a few days in a year, never break a leg, pressure is perfect and so on and on the chances of that happening onboard is extremely rare. It can happens but give me a break, it has to be extremely coincidence. Not to mention that you are in a cruise, you are happier than never, immune system is sky rocket, nutrients are all over your body, and no stress. Of course a week or 2 before the cruise or any vacation I go in double vigilance= don't do anything stupid now or you will be sick for the cruise

[mcatmcat]

On the other hand there are certain people that need extra insurance

 

http://www.buzzfeed.com/carolinekee/this-girl-is-almost-okay-after-the-most-epic-fall-ever?sub=3802195_5936612

[leisuretraveler223]

I believe it's debatable as to whether or not travel insurance is purely an "investment". Then it would be another debate as to the "quality" of it.:)

 

I wouldn't say that for most people it is "purely an investment". As most people who purchase it (cancellation insurance that is), are actually receiving value from the peace of mind. However, for all intents and purposes, the best way to view reimbursement or loss prevention insurance products is as an investment.

 

Say you spend $100 on insurance for a $2,000 trip. Well, if you have to use it and you get reimbursed, then it was of course worth the money. But statistically, the vast majority of the time it won't get used. So now consider that you take let's say two such trips a year for ten years. If you insure each one, you've now spent $2,000. Get reimbursed once and you break even. On the other hand, take that same $2,000 and put it into another investment vehicle and you very likely will do better than break even.

 

Like I said, there are other reasons people buy it (fortunately). But it still makes sense to view it as an investment to see if it's a good part of your overall financial plan.

[Pesseh0729]

No insurance for me even when I can afford it or not

 

If you are young and live a healthy balanced lifestyle you might get sick since you are not immune but if you never get a cold at least for a few days in a year, never break a leg, pressure is perfect and so on and on the chances of that happening onboard is extremely rare. It can happens but give me a break, it has to be extremely coincidence. Not to mention that you are in a cruise, you are happier than never, immune system is sky rocket, nutrients are all over your body, and no stress. Of course a week or 2 before the cruise or any vacation I go in double vigilance= don't do anything stupid now or you will be sick for the cruise

 

 

I agree!

[dixiesue]

I enjoy my piece of mind 12 ounces at a time. ;)

 

John n La La where our you at in cocoa we live in Ohio but own a place in cocoa and cruise out of port Canaveral every year we will be in Florida more this winter and will be on the freedom in February 7 2016 I want to bring my grandkids down for a cruise next year but do you get the insurance if so who with?

[John&LaLa]

John n La La where our you at in cocoa we live in Ohio but own a place in cocoa and cruise out of port Canaveral every year we will be in Florida more this winter and will be on the freedom in February 7 2016 I want to bring my grandkids down for a cruise next year but do you get the insurance if so who with?

 

We live between the Doubletree and the Hilton, about a mile south of 520. I don't get insurance on the trips out of FL. Laura is doing a Med and the TA in October of 16. Once we have an idea on airfare, we may add insurance.

 

Luv living on the beach

[John&LaLa]

We live between the Doubletree and the Hilton, about a mile south of 520. I don't get insurance on the trips out of FL. Laura is doing a Med and the TA in October of 16. Once we have an idea on airfare, we may add insurance.

 

Luv living on the beach

 

Meant to add picture