Should I wait to purchase insurance when I pay my balance?

[Saukkey1]

I always get insurance for a cruise. My question is why buy the insurance before I pay the balance? My deposit is refundable. Is there an advantage to buying it earlier? Thank you.

[upwarduk]

In the UK we are advised to buy insurance when we book, as we have NRD.

[LB_NJ]

The MAIN reason to buy cruise insurance is for medical to avoid possibly $100,000 medical bills.

 

Most insurance policies do not cover pre-existing conditions unless purchased shortly after the first deposit.

[Blanq]

14 hours ago, Saukkey1 said:

I always get insurance for a cruise. My question is why buy the insurance before I pay the balance? My deposit is refundable. Is there an advantage to buying it earlier? Thank you.

I don't see the benefit of buying it before final payment. I have not noticed prices changing if you wait, and companies will sell you a policy up to the time you travel. I have a 2 week trip to Belize coming up next week and just bought insurance last week.

 

If you travel frequently, especially involving travel out of the country, purchasing an annual policy may be the way to go. I looked into it for 2023, as we already have 2 trips abroad planned early in the year, but I didn't pull the trigger. I definitely think when my husband and I retire (within a year or so), we'll just get annual policies. We are currently primarily only interested in coverage for medical, evacuation, trip delay costs, recovering delayed/lost luggage costs. 

[jelayne]

As long as you are comfortable with the look back period for covering medical, evacuation, etc then buy it at final payment.  

 

 

[mduffy1834]

we have an annual policy - but we cruise at least 2 times a year and do another land tour of some type.  At our ages (63 & 66), we are more interested in covering medical expenses rather than the cost of the trip.  The annual policy covers everything we need.

 

[Cruising Is Bliss]

18 hours ago, Saukkey1 said:

I always get insurance for a cruise. My question is why buy the insurance before I pay the balance? My deposit is refundable. Is there an advantage to buying it earlier? Thank you.

 

In the US insurance companies require purchase within a few days of paying the deposit to cover per-existing conditions. And if you didn't buy it then, and later need file a claim, your insurance company will look at your medical records going back years even if you were healthy at the time of deposit. They look back years to find something that could be an indication your claim is for a per-existing condition and therefore not reimbursable.

Edited January 5, 2023 by Cruising Is Bliss