Add to credit card coverage

[palpieha]

I've put a deposit on a cruise that will cost about $10k. The credit card I used (and will use for final payment) has Trip Cancellation/Interruption insurance, but only up to $5k per trip. If I purchase insurance from, say, Allianz, do I insure the full $10k, or can I insure $5k, and if I need to cancel (for a covered reason, of course) I can get $5k each from the credit card and Allianz?

Edited September 26, 2022 by palpieha

[iflyrc5]

1 hour ago, palpieha said:

I've put a deposit on a cruise that will cost about $10k. The credit card I used (and will use for final payment) has Trip Cancellation/Interruption insurance, but only up to $5k per trip. If I purchase insurance from, say, Allianz, do I insure the full $10k, or can I insure $5k, and if I need to cancel (for a covered reason, of course) I can get $5k each from the credit card and Allianz?

I would call Allianz and ask.

[Jersey42]

1 hour ago, palpieha said:

I've put a deposit on a cruise that will cost about $10k. The credit card I used (and will use for final payment) has Trip Cancellation/Interruption insurance, but only up to $5k per trip. If I purchase insurance from, say, Allianz, do I insure the full $10k, or can I insure $5k, and if I need to cancel (for a covered reason, of course) I can get $5k each from the credit card and Allianz?

I think the biggest potential concern here might have to do with pre-existing conditions.  If you are positive that you and non-traveling family members (that might cause you to cancel) do not have what insurance defines as pre existing conditions, then your approach may be fine.  If not, you will have issues:

• Credit cards exclude pre-existing conditions with a lookback period of xx days (typically 60).  So no coverage.
• Third party plans often waive the pre-existing condition exclusion if you meet certain requirements.  One condition for many (but not all) plans is you must insure your trip’s full prepaid non-refundable trip cost.  I believe all of the Allianz plans require you insure the full amount to get the waiver.

 

Like many others on this former I recommend calling TripInsuranceStore and ask questions.  You will have to do your own homework on your credit card coverage, and they will not sell you an Allianz plan.  But they will find you something that works well for your situation.