- This topic has 12 voices and 13 replies.
-
Posts
-
I had to cancel a $6000 cruise three days before sailing due to a positive COVID test, and thankfully, the $199 I spent on insurance gave me a 100% refund. Without it, I would have been out thousands of dollars. Considering the unpredictable nature of travel, especially with potential health issues or flight cancellations, that small insurance cost provided invaluable protection.
After decades of cruising, I’ve never had to make a claim, so for me, the $100-$200 I’d spend on insurance for a $1500 cruise seems like money I could save. I understand the risks, but I consider my vacations a luxury, and while losing the money wouldn’t be ideal, it wouldn’t cause a major financial loss for me. However, I do acknowledge that medical evacuation costs, which can easily reach $15,000 or more, are a significant risk.
I used to always buy the insurance offered by the cruise line, but I learned it often doesn’t cover flights booked separately and might only give you a partial refund or future cruise credit if you cancel. Now, I prefer third-party insurers like Allianz or AIG Travel Guard, which often have more comprehensive coverage and can be cheaper. For my last $4500 trip, I got a Travel Insured policy for just $144, which included a million dollars worth of medical evacuation coverage.
I rely on the travel insurance benefits that come with my Chase Sapphire Reserve credit card. The annual fee is $550, but after the $300 travel credit, it’s like paying $250 for pretty comprehensive coverage, including trip cancellation, interruption, and medical emergencies. Plus, I earn 3x points on travel purchases, which I can redeem for future trips, effectively offsetting some of the cost.
I personally don’t worry too much about losing the $2000 I spent on my last cruise if I had to cancel, but the thought of a medical emergency is what makes me buy insurance. A friend’s daughter had an allergic reaction in Europe and the transfer back to the US cost tens of thousands of dollars. My Allianz policy gives me $500,000 in medical evacuation coverage and maybe $50,000 for medical claims, which is crucial because my regular health insurance might not fully cover me overseas.
- You must be logged in to reply to this topic.