Is it possible to buy Princess Travel insruance after the final payment?

[jewelsea21]

Hi, no, not at all. As of November, 2014

[cherylandtk]

Thanks.

[Luvmyrotti]

Not to be snarky, but the ultimate purpose of insurance is to protect against a future, unforeseen event or occurrence. Insurance companies guard against a practice called anti-selection, in which someone purchases coverage when they know about a future or current loss. Because you now have knowledge that your MIL is ill, you potentially have a higher than likely risk of canceling. In the minds of the insurance company, you represent a higher risk than an average buyer who purchases insurance without such knowledge. It is unlikely you will get a policy if you disclose fully the details of the situation, or if you do, it will be expensive.

 

This is why it is important to purchase insurance every time you travel. Neither you, nor the insurance company, knows if there will be a reimbursable event. Sometimes there is no event, in which case they get to keep your premium with no pay out. Other times, there is an event, and they pay out, likely much more than your actual premium paid.

[suzyed]

Here's what may be a dumb question....If you purchased Princess insurance at the time of booking, but cancel prior to final payment.....do you forfeit your insurance payment?

 

Yes. At least that is what I have been told by a TA.

[suzyed]

Not to be snarky, but the ultimate purpose of insurance is to protect against a future, unforeseen event or occurrence. Insurance companies guard against a practice called anti-selection, in which someone purchases coverage when they know about a future or current loss. Because you now have knowledge that your MIL is ill, you potentially have a higher than likely risk of canceling. In the minds of the insurance company, you represent a higher risk than an average buyer who purchases insurance without such knowledge. It is unlikely you will get a policy if you disclose fully the details of the situation, or if you do, it will be expensive.

 

This is why it is important to purchase insurance every time you travel. Neither you, nor the insurance company, knows if there will be a reimbursable event. Sometimes there is no event, in which case they get to keep your premium with no pay out. Other times, there is an event, and they pay out, likely much more than your actual premium paid.

 

So in this case the OP could get "cancel for any reason" insurance and still be covered.

[suzyed]

So you are right --- My friend bought his policy after final payment but it was within 30 days of the time that he paid for the cruise. No deposit previously as this cruise was bought last minute.

 

Not necessarily. I saw two policies on insure my trip that can be bought after final payment and within a short period of time before the actual trip.

[Working 2 Cruise]

Yes. At least that is what I have been told by a TA.

 

I guess your TA doesn't know what he or she is talking about... if you cancel a cruise prior to final payment, there's no need for the insurance, and the insurance would not have been in place. So, no... the insurance will cancel itself . As long as the cruise is cancelled prior to final payment, which is what Murphey asked.

[Luvmyrotti]

So in this case the OP could get "cancel for any reason" insurance and still be covered.

 

Since there is now a known risk (i.e. that they will cancel due to MIL's illness), the insurance company may elect not to even quote a policy/underwrite that risk or will price it very high.

 

Remember, insurance is about a future, unknown risk. In this case there is information about the risk that indicates it is higher, hence no longer unknown.

 

Insurance is like a bet you place with the insurer. They are betting that it (the unforeseen medical event, trip interruption, etc.) won't happen and they get to keep your money without a pay out while you are essentially betting that it will happen and you will have paid a small amount (premium) for a larger pay out (tens of thousands of dollars in medical expenses, airlift, trip interruption, etc.).

[Babr]

What we don't know here is when the OP made final payment. He says they sail in 45 days.

 

If he made final payment at the cruise line's imposed date of 75-90 days before sail date, then he is way beyond the time frame for purchasing cancel for any reason or pre-existing conditions riders. Those have to be purchased within a defined number of days of making either the initial deposit or, in some cases, final payment. Even for those policies that cover prexisting conditions at final payment, he is beyond the limit.

 

If he booked a last minute cruise, then the final payment date is the day he paid for the cruise. If he paid for it in the last 14 days or so depending on the requirements of the policy, he might be able to get coverage, but there is a known risk.

 

As Luvmyrotti has pointed out, an insurer is not going to cover a risk that you discover and decide to insure after the fact. That is why you can't buy flood insurance after a named hurricane heads in your direction.

[Coral]

Not necessarily. I saw two policies on insure my trip that can be bought after final payment and within a short period of time before the actual trip.

 

This was for cancel for any reason and getting your money back...... You probably need to follow my and Cheryls conversation to get that.

Edited October 21, 2015 by Coral

[Coral]

I guess your TA doesn't know what he or she is talking about... if you cancel a cruise prior to final payment, there's no need for the insurance, and the insurance would not have been in place. So, no... the insurance will cancel itself . As long as the cruise is cancelled prior to final payment, which is what Murphey asked.

 

Some people choose to pay for Princess insurance at time of deposit to cover pre-existing clause (60 day look back). So yes, if you pay for insurance at deposit or before final payment and cancel the cruise, you do get your insurance money back.

 

So it is possible the insurance could be in place at time of deposit or before final payment.

[Cruise Raider]

I have purchased insurance both through Princess and through 3rd party companies and I purchase it for every cruise and land vacation. This is my experience:

 

Princess Insurance: Quoted at the time of booking -- never paid for until the time of final payment and it does cover pre-existing conditions. Cannot be purchased to cover pre-existing conditions after final payment. Pre-existing conditions apply to the person that is ill -- so if you need to cancel because your MIL is sick and she is sick with the same or related condition - this is only covered if she didn't suffer from the condition at the time you paid for the insurance.

 

3rd Party Insurance: The one I usually use only pays for pre-existing conditions if booked within 14 days of the initial deposit date. Otherwise, the same as above applies. I usually wait until final payment to book the insurance with 3rd party insurance and understand that is the chance I am taking. I have no chronic illness.

 

I have read about nightmares of those attempting to collect on these policies, and that is in ideal circumstances. I was rushed into emergency surgery for a ruptured appendix and still had to jump through hoops to get a refund on a planned trip for the following week. If there was evidence of anything going on previously (not very applicable in my situation) it may have been more difficult or could have been rejected.

 

At this point, you may still be able to get some of your money returned to you if you are on the fence. The money returned to you decreases more and more the closer to you get to sail date so you may want to make your decision sooner vs later. Sure hope MIL if feeling better, BTW!

[Murphey]

Okay folks. I have a preexisting condition....always will have. I have stage 4 lung cancer undergoing targeted chemotherapy, and will; for as long as I have. So, am I never to be able to book a trip and be covered. Sorry for boring you with grim details, but we are doing what we can, while we can. I've gotten so many answers (and yes I've called everyone) my head is swimming. I will never be "stable" for 60 days. My treatment changes as needed. I guess when something happens, we'll find out! We shell out the $$ for insurance when we first book a trip.

[Coral]

Okay folks. I have a preexisting condition....always will have. I have stage 4 lung cancer undergoing targeted chemotherapy, and will; for as long as I have. So, am I never to be able to book a trip and be covered. Sorry for boring you with grim details, but we are doing what we can, while we can. I've gotten so many answers (and yes I've called everyone) my head is swimming. I will never be "stable" for 60 days. My treatment changes as needed. I guess when something happens, we'll find out! We shell out the $$ for insurance when we first book a trip.

 

Yes you can be covered. I book my insurance with Allianz. With most of their policies, as long as you buy within 14 days of deposit, they will cover your pre-exiting condition as long as you are able to travel that day. My travel agency has a specific policy for them which allows them to sell it at final payment and cover pre-existing conditions so we buy that policy.

 

If you check with Travelex or Travel Guard, most of their policies say that as long as you buy within x amount of days of deposit, and are medically able to travel the day you buy insurance, you can be covered.

 

There are plenty of options. More then I suggested.

 

My Mom had a 20 year illness (and her condition changed frequently) and she was able to travel insured dozens of times. If you book through an agent, you may want to ask what they have.

[suzyed]

I guess your TA doesn't know what he or she is talking about... if you cancel a cruise prior to final payment, there's no need for the insurance, and the insurance would not have been in place. So, no... the insurance will cancel itself . As long as the cruise is cancelled prior to final payment, which is what Murphey asked.

 

They asked if you would forfeit the "insurance payment". I took that to mean if you paid the insurance premium, but then canceled the cruise before final payment, you wouldn't lose you cruise deposit, but you would lose the insurance payment.

[suzyed]

This was for cancel for any reason and getting your money back...... You probably need to follow my and Cheryls conversation to get that.

 

Yes, I know that it was a cancel for any reason policy. The OP would not qualify for a PEC policy.

[Coral]

Yes, I know that it was a cancel for any reason policy. The OP would not qualify for a PEC policy.

 

I know.

[Coral]

They asked if you would forfeit the "insurance payment". I took that to mean if you paid the insurance premium, but then canceled the cruise before final payment, you wouldn't lose you cruise deposit, but you would lose the insurance payment.

 

If it is Princess insurance, they will refund it.

 

If it is 3rd party insurance, they will often let you transfer your money to a different trip. You don't necessarily lose it.

[Luvmyrotti]

Okay folks. I have a preexisting condition....always will have. I have stage 4 lung cancer undergoing targeted chemotherapy, and will; for as long as I have. So, am I never to be able to book a trip and be covered. Sorry for boring you with grim details, but we are doing what we can, while we can. I've gotten so many answers (and yes I've called everyone) my head is swimming. I will never be "stable" for 60 days. My treatment changes as needed. I guess when something happens, we'll find out! We shell out the $$ for insurance when we first book a trip.

 

Absolutely you will be able to purchase insurance. My DH is in the exact same position as you, except with a different kind of cancer. We always purchase an insurance policy, at time of booking, that waives the pre-existing condition exclusion provided that you: 1) purchase within 21 days of booking and, 2) that you are not disabled from traveling at the time you purchase the policy. So, as long as you are well enough to travel at time of booking and purchase timely, the pre-existing condition exclusion is waived. It costs a bit more, but is certainly worth it. Our TA handles this for us and the policy is typically through Travelex.

 

Enjoy the traveling and cruising as long as you can! Best of luck to you!

Edited October 22, 2015 by Luvmyrotti

[cherylandtk]

I would just add one more requirement to Luvmyrotti's answer.

3. With most policies you must insure ALL pre-paid non refundable trip costs in order to obtain PEC coverage.

[cherylandtk]

Yes, I know that it was a cancel for any reason policy. The OP would not qualify for a PEC policy.

If you have found two that cover CFAR for OP's case, could you please advise which ones they are? Thanks.

[ALB0711]

I'm the OP and promised a follow-up to my thread.

 

First of all, thanks for all the advice!

 

I checked insurance policies available on the various broker websites as well as with my TA who works for a very large agency. The TA was willing to sell me a policy but when I read it I was pretty sure that the policy would cover me in the event my MIL passed away, but would not cover us if we felt she was close and needed us nearby. Her illness (COPD) would be considered a pre-existing condition and our claim would be denied.

 

Her COPD has been with her for several years, but has never required the long hospitalization (2 weeks) that she had during her most recent episode. I'm sure we would have opted for the insurance at booking if she had experienced similar episodes in the past.

 

Fortunately, she is doing better now and is back home. We are moving forward with out cruise without the insurance.

 

For those of you with elderly parents, I'd recommend that you carefully consider their health and risks when you book and err on the side of buying insurance you won't need.

 

Again, thanks for all the help!

[Coral]

I'm the OP and promised a follow-up to my thread.

 

First of all, thanks for all the advice!

 

I checked insurance policies available on the various broker websites as well as with my TA who works for a very large agency. The TA was willing to sell me a policy but when I read it I was pretty sure that the policy would cover me in the event my MIL passed away, but would not cover us if we felt she was close and needed us nearby. Her illness (COPD) would be considered a pre-existing condition and our claim would be denied.

 

Her COPD has been with her for several years, but has never required the long hospitalization (2 weeks) that she had during her most recent episode. I'm sure we would have opted for the insurance at booking if she had experienced similar episodes in the past.

 

Fortunately, she is doing better now and is back home. We are moving forward with out cruise without the insurance.

 

For those of you with elderly parents, I'd recommend that you carefully consider their health and risks when you book and err on the side of buying insurance you won't need.

 

Again, thanks for all the help!

 

Glad that she is doing well!

 

Honestly - I recommend insurance for everyone. A child may break their leg and someone in their 20's may need their appendix out. There are all kinds of unexpected things that come up for all ages, not just the elderly. You insure for the things you don't expect to happen.

 

BTW -did you check your credit card to see if they covered you?

Edited October 27, 2015 by Coral

[ALB0711]

Hi Coral -

 

Yes I did check my credit card. The Princess Visa I used isn't good for much more then the 2 points per dollar spent. I've got lots of cards, will probably pick a different one next time!

 

Allen

[suzyed]

I'm the OP and promised a follow-up to my thread.

 

First of all, thanks for all the advice!

 

I checked insurance policies available on the various broker websites as well as with my TA who works for a very large agency. The TA was willing to sell me a policy but when I read it I was pretty sure that the policy would cover me in the event my MIL passed away, but would not cover us if we felt she was close and needed us nearby. Her illness (COPD) would be considered a pre-existing condition and our claim would be denied.

 

Her COPD has been with her for several years, but has never required the long hospitalization (2 weeks) that she had during her most recent episode. I'm sure we would have opted for the insurance at booking if she had experienced similar episodes in the past.

 

Fortunately, she is doing better now and is back home. We are moving forward with out cruise without the insurance.

 

For those of you with elderly parents, I'd recommend that you carefully consider their health and risks when you book and err on the side of buying insurance you won't need.

 

Again, thanks for all the help!

 

Years ago and when we always took shorter cruises, we didn't always get the insurance. But as our parents got older and our cruises longer, with a bigger loss if we had to cancel, we started buying insurance....always!

It's worth the peace of mind! :)