When to purchase cruise insurance from 3rd party insurer

[Kfrech]

Sailing to Alaska this summer on HAL. Deposit was only $50 for 2 of us, completely refundable until March 1st when payment is due. 
 

I’m guessing I would purchase trip insurance (not using HAL) after March 1st. Am I missing something?

[SRF]

First thing to check is, does the policy you are considering require you to purchase within X days of booking the cruise to cover pre-existing conditions?

 

If so, you will probably want to book within that timeline.

 

Otherwise, about the time you make final payment should be OK.

 

[Flatbush Flyer]

56 minutes ago, Kfrech said:

Sailing to Alaska this summer on HAL. Deposit was only $50 for 2 of us, completely refundable until March 1st when payment is due. 
 

I’m guessing I would purchase trip insurance (not using HAL) after March 1st. Am I missing something?

Not the best idea. 

Depending on your age, health and any specific medical concerns that newly manifest or, in the case of any "chronic" problems/conditions, experience a change in diagnosis, treatment and/or meds during a look-back period of several months (length depends on insurer) prior to the day you made a deposit in your cruise, you will have what insurers call a "preexisting condition" (PEC -  which is defined differently than in the medical world). 

In order to obtain a policy that waives PECs as an exception to insurance coverage for everything from trip delay to cancelation to emergency medical treatment or evacuation, most insurers require that you purchase the policy within XX days (usually 2-3 weeks) of paying your cruise deposit.

There are a few companies that will waive PECs if the policy is purchased prior to final payment (e.g., Nationwide).

If you made your deposit too long ago, you may already be too late for a PEC waiver from most insurers. If you wait to purchase until after you make your final payment, the remaining companies that use that later date for PEC allowances won't waive them and you'll be S.O.L.

 

And YES, it's not just geezers who find themselves with what insurers call a PEC.

Edited November 11, 2019 by Flatbush Flyer

[Kfrech]

The crazy part is that with a refundable deposit, I could cancel the whole cruise prior to March 1st. I sure don't want to pay for insurance on a trip that I could cancel within the next 4 months (not that I really intend to do this).

[Flatbush Flyer]

1 hour ago, Kfrech said:

The crazy part is that with a refundable deposit, I could cancel the whole cruise prior to March 1st. I sure don't want to pay for insurance on a trip that I could cancel within the next 4 months (not that I really intend to do this).

And insurers know that - hence the deadlines.

So, consider Nationwide and the others that will waive PECs as long as you buy the policy before final payment. Surely, in the days preceding final payment, you'll know whether you're going or not.

 

[RocketMan275]

1 hour ago, Kfrech said:

The crazy part is that with a refundable deposit, I could cancel the whole cruise prior to March 1st. I sure don't want to pay for insurance on a trip that I could cancel within the next 4 months (not that I really intend to do this).

Some plans allow you to take out insurance for the amount of the initial down payment ($50) and then increase the value at final payment or when other non-refundable charges are incurred.  Suggest you talk to the insurance companies.  Or, call 

 

https://boards.cruisecritic.com/forum/2441-qa-cruise-insurance-w-steve-dasseos-of-the-tripinsurancestorecom/

[1025cruise]

It really depends on the policy and what you are looking for. Most policies require purchase within 14 days of initial deposit for coverage of pre-existing conditions or for cancel for any reason. If you need that, you shouldn't wait.

[sparks1093]

3 hours ago, Flatbush Flyer said:

Not the best idea. 

Depending on your age, health and any specific medical concerns that newly manifest or, in the case of any "chronic" problems/conditions, experience a change in diagnosis, treatment and/or meds during a look-back period of several months (length depends on insurer) prior to the day you made a deposit in your cruise, you will have what insurers call a "preexisting condition" (PEC -  which is defined differently than in the medical world). 

In order to obtain a policy that waives PECs as an exception to insurance coverage for everything from trip delay to cancelation to emergency medical treatment or evacuation, most insurers require that you purchase the policy within XX days (usually 2-3 weeks) of paying your cruise deposit.

There are a few companies that will waive PECs if the policy is purchased prior to final payment (e.g., Nationwide).

If you made your deposit too long ago, you may already be too late for a PEC waiver from most insurers. If you wait to purchase until after you make your final payment, the remaining companies that use that later date for PEC allowances won't waive them and you'll be S.O.L.

 

And YES, it's not just geezers who find themselves with what insurers call a PEC.

And pre-existing conditions apply to non-travelers also, so if someone has an elderly parent and they have a condition that is considered pre-existing then cancelling the trip to be with them if that condition flared up wouldn't be covered. 

[SimplyMarvie]

I would say you should always book with a third party... you have more choices of coverage to fit your needs that way. 

 

We booked a cruise with a refundable deposit and bought travel insurance after the final payment deadline, and everything worked out well. I wasn't too worried about the pre-existing conditions issue because we're young and in good health, and if we did need treatment overseas or a medical evacuation our travel insurance would be secondary to our private medical (which covers us everywhere but North Korea and Iran). The coverage we got wasn't "cancel for any reason", but the cancellation coverages were reasonable for what we were worried about -- Congress failing to pass another CR and either me or my spouse being declared essential -- and covered us even though the trip was already paid for. 

 

I suppose the moral of this very long story is "shop around!" 🙂

[Jersey42]

19 hours ago, RocketMan275 said:

Some plans allow you to take out insurance for the amount of the initial down payment ($50) and then increase the value at final payment or when other non-refundable charges are incurred.  Suggest you talk to the insurance companies.  Or, call 

 

https://boards.cruisecritic.com/forum/2441-qa-cruise-insurance-w-steve-dasseos-of-the-tripinsurancestorecom/

@Kfrech - here is one specific thread that talks about this approach.

 

[Babr]

The only reason to buy insurance at the time of deposit is to get cancel for any reason since you can get the pre-existing condition waiver from some companies that grant it if you buy within the specified window at final payment.

 

I don’t know your specific needs, but if you are not wanting the cancel for any reason ,  I think you could reasonably wait until final payment to buy insurance. That way you could cancel before final payment, get the deposit back, and not be out the cost of insurance.

 

If you or your traveling companion insured on the same policy don’t have any doctor’s appointments, tests, or prescription changes in the period before you buy the insurance, you don’t need the pre-existing condition waiver. Look for a policy with the shortest look-back period, usually 60 days. You’ll know by the time of final payment if a medical situation or accident may prevent you from taking the cruise.  You can decide at that time whether you need to cancel or get a policy with a waiver. As others have pointed out, this may not  be a a good strategy if you have non-traveling family members with medical concerns.

 

It is best to talk to a travel insurance professional such as the ones mentioned on this board so they can address your personal situation and make the appropriate recommendation.

 

 

 

 

[LDVinNC]

20 hours ago, Babr said:

The only reason to buy insurance at the time of deposit is to get cancel for any reason since you can get the pre-existing condition waiver from some companies that grant it if you buy within the specified window at final payment.

 

 

Not sure I agree with this approach.  There is no guarantee that policies offering the waiver will be available at the time of final payment. 

 

We insure the deposit at a modest cost and add to the insurance as we make additional non-refundable payments for the trip.  If we must cancel the trip in advance, we have lost very little, or in some cases can transfer the insurance to another trip.

[Jersey42]

21 hours ago, Babr said:

The only reason to buy insurance at the time of deposit is to get cancel for any reason since you can get the pre-existing condition waiver from some companies that grant it if you buy within the specified window at final payment.

Another potential problem is the terms/conditions for the policies you can purchase at final payment may not work for some people.  For example, I know of three companies that offer the pre-existing conditions waiver at final payment (CSA, Nationwide and Generali).  The medical coverage on all of them is secondary.  For someone who wants or needs primary medical insurance, these policies may not work for them. (i.e. Medicare with a Medigap policy has 50K lifetime maximum coverage with deductibles and co pays). There may be other policies that solve this issue, but other terms and conditions need to be looked at to make sure they work for each individual's own situation.

 

21 hours ago, Babr said:

It is best to talk to a travel insurance professional such as the ones mentioned on this board so they can address your personal situation and make the appropriate recommendation.

As always, this is excellent advice for everyone. 

[Flatbush Flyer]

41 minutes ago, Jersey42 said:

Another potential problem is the terms/conditions for the policies you can purchase at final payment may not work for some people.  For example, I know of three companies that offer the pre-existing conditions waiver at final payment (CSA, Nationwide and Generali).  The medical coverage on all of them is secondary.  For someone who wants or needs primary medical insurance, these policies may not work for them. (i.e. Medicare with a Medigap policy has 50K lifetime maximum coverage with deductibles and co pays). There may be other policies that solve this issue, but other terms and conditions need to be looked at to make sure they work for each individual's own situation.

 

As always, this is excellent advice for everyone. 

IMG itravelinsured LX is primary payer with PEC waiver if purchased prior to final cruise payment.

[GeezerCouple]

1 hour ago, Jersey42 said:

Another potential problem is the terms/conditions for the policies you can purchase at final payment may not work for some people.  For example, I know of three companies that offer the pre-existing conditions waiver at final payment (CSA, Nationwide and Generali).  The medical coverage on all of them is secondary.  For someone who wants or needs primary medical insurance, these policies may not work for them. (i.e. Medicare with a Medigap policy has 50K lifetime maximum coverage with deductibles and co pays). There may be other policies that solve this issue, but other terms and conditions need to be looked at to make sure they work for each individual's own situation.

 

As always, this is excellent advice for everyone. 

 

It might be much worse than just what types of limits or primary/secondary/etc.

 

IF it comes time to make final payment and thus start the travel insurance, then IF one of the parties is not fit to travel OR has recently had some sort of health problem, they may NOT be able to get the insurance at all, or not be able to get coverage for pre-existing conditions.

 

Sure, one could not make that final payment, but by that time, many have already made other coordinated plans, including some that may involve not only disappointment, but lost payments.

(And in some cases, the initial/earlier cruise payments, including substantial initial deposits, may be non-refundable.)

 

GC

[sanger727]

On 11/11/2019 at 11:22 AM, Kfrech said:

The crazy part is that with a refundable deposit, I could cancel the whole cruise prior to March 1st. I sure don't want to pay for insurance on a trip that I could cancel within the next 4 months (not that I really intend to do this).

 

Keep in mind that 3rd party insurers are insuring all kinds of trips, not just cruises. Cruises are unique in the deadlines for when payment is due and being able to get the deposit refunded up until then. Many vacations involve non-refundable hotels, air, etc. The way the insurer looks at it, the closer the cruise gets, the more likely you are to discover an issue and potentially need to cancel, so their risk goes up. Part of why they are willing to issue higher risk products like cancel for any reason and pre-existing condition waivers if you purchase coverage when you book (theoretically at the time you book you feel confident you will go on the trip). As the 75 or 90 day period approaches all kinds of things could change for your personally or medically causing you to decide that maybe you should purchase coverage, and that's why they decline some of those riskier coverages at that point.

[MississippiMom]

On 11/13/2019 at 7:54 AM, Jersey42 said:

Another potential problem is the terms/conditions for the policies you can purchase at final payment may not work for some people.  For example, I know of three companies that offer the pre-existing conditions waiver at final payment (CSA, Nationwide and Generali).  The medical coverage on all of them is secondary.  For someone who wants or needs primary medical insurance, these policies may not work for them. (i.e. Medicare with a Medigap policy has 50K lifetime maximum coverage with deductibles and co pays). There may be other policies that solve this issue, but other terms and conditions need to be looked at to make sure they work for each individual's own situation.

 

As always, this is excellent advice for everyone. 

A big thanks for the tips!  I just booked online directly with Generali, after entirely too many hours researching.