Refundable deposit, pre-existing conditions waiver, and trip insurance

[AbsolutSki]

If I understand correctly, trip insurance must be purchased within a number of days (usually 14) from first deposit to get the pre-existing conditions waiver.  I put down a refundable deposit of $200 for a cruise that is $10,000 when final payment is due in a few months.  I can cancel the cruise and get my deposit of $200 back before the final payment date.

 

What is the amount of the trip cost I should enter for the trip insurance?  Do I enter $200 (the deposit), then add the other $9,800 when final payment is made?  Or do I  enter the full $10,000, but then what happens if I end up canceling and get my $200 deposit back?  

[GeezerCouple]

15 minutes ago, AbsolutSki said:

If I understand correctly, trip insurance must be purchased within a number of days (usually 14) from first deposit to get the pre-existing conditions waiver.  I put down a refundable deposit of $200 for a cruise that is $10,000 when final payment is due in a few months.  I can cancel the cruise and get my deposit of $200 back before the final payment date.

 

What is the amount of the trip cost I should enter for the trip insurance?  Do I enter $200 (the deposit), then add the other $9,800 when final payment is made?  Or do I  enter the full $10,000, but then what happens if I end up canceling and get my $200 deposit back?  

 

What are the terms of the specific policy you are looking at?  Call the insurer or the agent/broker.

 

The type of coverage we get does require only the coverage of whatever payments have actually been made.  So yes, in that case, we insure the deposit, and then up the coverage as we make additional payments, be they for the cruise or for excursions, airfare, or hotels, etc.

 

I'd definitely check with the insurer/agent/broker to be sure that I didn't make a mistake that might lead to invalidating the coverage should a claim be made.

 

You might also want to look into policies where if you cancel without any loss, the premium could be re-applied to another trip (perhaps subject to some time constraints).

 

GC

[iamtrustworthy]

13 hours ago, AbsolutSki said:

If I understand correctly, trip insurance must be purchased within a number of days (usually 14) from first deposit to get the pre-existing conditions waiver.  I put down a refundable deposit of $200 for a cruise that is $10,000 when final payment is due in a few months.  I can cancel the cruise and get my deposit of $200 back before the final payment date.

 

What is the amount of the trip cost I should enter for the trip insurance?  Do I enter $200 (the deposit), then add the other $9,800 when final payment is made?  Or do I  enter the full $10,000, but then what happens if I end up canceling and get my $200 deposit back?  

Hi AbsolutSki,

 

What State do you live in?

 

Steve Dasseos

[AbsolutSki]

6 hours ago, iamtrustworthy said:

Hi AbsolutSki,

 

What State do you live in?

 

Steve Dasseos

Virginia