Paying for insurance with deposit

[Missouri travel girl]

Is there an advantage to paying for insurance at time of deposit?  I think it was to do with pre existing conditions b I’m mot sure?

TIA

[klfrodo]

Depends.

Are you buying thru the cruise line?

Cruise line insurance doesn't waive pre-existing condition.

Or thru a 3rd party?

3rd party usually requires the insurance to be purchased within X number of days to waive pre-existing medical conditions for you and any family members not travelling with you. And if you were to include in the 3rd party policy, Cancel For Any Reason, then that also requires the purchase of the policy within X number of days of deposit.

 

Having said all that, you don't have to guess or estimate your entire trip cost at that time. You can buy the insurance to only cover the non-refundable deposit, then call and add trip expenses as you firm up you travel plans or pay down the cost of the trip.

Edited November 28, 2023 by klfrodo

[CDNPolar]

1 hour ago, klfrodo said:

Having said all that, you don't have to guess or estimate your entire trip cost at that time. You can buy the insurance to only cover the non-refundable deposit, then call and add trip expenses as you firm up you travel plans or pay down the cost of the trip.

 

I get this concept, but if you don't buy insurance for the value of the entire trip at the beginning, will they cover you for pre-existing and cancel for any reason?

I would think not... but am probably wrong 'cause I don't know....

[klfrodo]

1 hour ago, CDNPolar said:

 

I get this concept, but if you don't buy insurance for the value of the entire trip at the beginning, will they cover you for pre-existing and cancel for any reason?

I would think not... but am probably wrong 'cause I don't know....

Can't speak for the laws of Canada and actually can't speak for the laws of Missouri.

What I do know is that in the US, you must (except for 1 policy I'm aware of) purchase your travel insurance within a certain time limit of the date you made your first payment i.e. the deposit. (The time frame is usually 14 days to 21 days depending on the policy if you wish to waive the pre-existing conditions or purchase a CFAR rider.)

What is also regulated by each State in the US is whether you have to insure the entire trip to receive this benefit. In my State, Washington, you do not. Again, I can't speak for other States. That's why many of us recommend that people reach out to a broker who can help you personalize your coverage that best meets your individual needs and stays within the laws of your State of residency.

 

I usually put my first deposit down over a year before my trip. I can't possibly know what my airfare is going to be because airlines don't sell tickets more that 330 days out. Therefore, it would be impossible to know my entire non-refundable trip costs.

Edited November 28, 2023 by klfrodo

[Coral]

6 hours ago, Missouri travel girl said:

Is there an advantage to paying for insurance at time of deposit?  I think it was to do with pre existing conditions b I’m mot sure?

TIA

Princess insurance - it has a 60 day look back period. So if your condition is stable 2 months before you book the cruise, if you book the cruise and pay for insurance at that time (not just add it) - you are covered for pre-existing conditions.

 

3rd party insurance. Often it will cover you for pre-existing conditions if bought within 2 weeks (or a defined time period) of putting down a deposit. My agent has a plan that covers pre-existing conditions when bought at final payment - so I love this plan with my agent.

 

There is an entire insurance portion on CC: https://boards.cruisecritic.com/forum/499-cruisetravel-insurance/

[Coral]

49 minutes ago, Coral said:

Princess insurance - it has a 60 day look back period. So if your condition is stable 2 months before you book the cruise, if you book the cruise and pay for insurance at that time (not just add it) - you are covered for pre-existing conditions.

 

3rd party insurance. Often it will cover you for pre-existing conditions if bought within 2 weeks (or a defined time period) of putting down a deposit. My agent has a plan that covers pre-existing conditions when bought at final payment - so I love this plan with my agent.

 

There is an entire insurance portion on CC: https://boards.cruisecritic.com/forum/499-cruisetravel-insurance/

Sorry - thought I was on the Princess forum.

 

So my first comment deal with Princess insurance. If you say what line you are on or what insurance you are considering, we can probably go more into details.

 

Sorry for screwing up on not knowing which area I was posting to.

[Missouri travel girl]

Thank you everyone.  It is Princess insurance and I posted there before I was aware of this board.

[Coral]

3 hours ago, Missouri travel girl said:

Thank you everyone.  It is Princess insurance and I posted there before I was aware of this board.

I thought it was on the Princess board!!!! 🙂  This insurance board is very valuable.