Trip Insuance Quandry

[mandream]

I had the same question regarding purchasing a Cancel for Any Reason policy (besides cruise line protection policy) after making initial payment and just before final payment.

 

The reason most insurers don’t do this after final payment is because someone could purchase with the likely intention of canceling. However the policy amount would be after whatever is already refunded by the cruise line.

 

So the question to the OP is how close to the departure can they cancel the Nationwide policy for any reason (such as 48 hours), and what percentage does the policy really cover after deducting what they would get back from Celebrity on that date and subtracting the cost of the policy? What percentage was the policy cost of the cruise cost?

 

You are correct that most of the policies (including most of the policies offered by insuremytrip - which we always use) require purchasing insurance within a week or two of INITIAL deposit to be able to add Cancel For Any Reason coverage. However two of the Nationwide policies do allow you get CFAR coverage up until Final Payment. We've picked those policies before for this very reason when didn't do it from the beginning.

 

The policy refunds 70% of the non-refundable costs if you cancel up to 2 days before departure.

 

Mike

[volk904]

You can pay much less to I sure. Our last cruise was John Hancock Silver.

 

 

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