Insurance - Cruise Confusion!

Vems

Hi All, A few weeks ago (not good timing!!) we booked the cruise of a lifetime (77 days world cruise) going January 2013. We paid a deposit of £3,500. The insurance co want over £200. I explained, as it is 12 months away I do not need cover for medical, luggage etc now but just cancellation cover for the deposit paid. When the balance is due this October then I will need more cover. I could do nothing till October but am worried that should I have to cancel for some reason I will lose my deposit. Any suggestions. Many Thanks.

Quentin

Assuming this is a single trip policy to cover your 77 day trip, then you are only paying for medical cover/luggage loss etc during the trip. But you will have cancellation cover from the day you buy the policy.

Do it straightaway! You are right to worry about losing the deposit - what if a bus gets you in the morning?

Vems

Thanks for your reply but I am also buying medical/luggage cover from now which is not relevant at all - my point is that the ratio of paying £200 now for a possible loss of £3,500 by October is too high. For instance, you can insure a £6000 car for 12 months for about £250, something that you are driving every day and is a real risk. I think a cancellation risk for an insurance company is about £20-£30. I'm thinking of approaching one to ask.

Quentin

Were you to buy the policy today and travel tomorrow, the premium would be the same as it would were you to travel in 6 months time. You only get the benefit of the policy during the trip EXCEPT for the cancellation cover which comes into effect immediately.

eg If you are diagnosed with an illness that prevents you from taking the holiday, then you lose your deposit! You need to be covered now!!

(You don'tget the benefit of medical/luggage cover till you actually commence the trip)

silvercar

So what happens if you want to book a holiday that starts in over a years time?

Quentin

silvercar wrote: »

So what happens if you want to book a holiday that starts in over a years time?

You can take single trip cover to be sure you have cancellation cover (and are covered for any new health conditions that could arise)

rs65

silvercar wrote: »

So what happens if you want to book a holiday that starts in over a years time?

Some websites allow you to input travel dates in 2014.

rs65

Vems wrote: »

I think a cancellation risk for an insurance company is about £20-£30. I'm thinking of approaching one to ask.

I've just tried the Post Office quote system for a 77 day holiday starting 1st Feb 12 and again for 1st Feb 13 and the price is the same. So effectively you are getting 12 months cancellation cover for no extra charge. (ps The cost was £486.12 for basic - worldwide). £200 doesn't sound too bad.

Quentin

rs65 wrote: »

I've just tried the Post Office quote system for a 77 day holiday starting 1st Feb 12 and again for 1st Feb 13 and the price is the same. So effectively you are getting 12 months cancellation cover for no extra charge. (ps The cost was £486.12 for basic - worldwide). £200 doesn't sound too bad.

It seems as far as the OP is concerned that they can afford a 77 day cruise, and so can afford to lose the deposit if they have to cancel!

It is crazy to insist they won't pay out for a travel policy now as the holiday is so far away!

In the OP they do say they are worried about losing the deposit, have been advised, yet still do nothing!

Vems

Quentin - I appreciate the time and effort you put into offering your advice and I thank you for that. I don't think sarcastic remarks are in the spirit of this forum.

katejo

Quentin wrote: »

It seems as far as the OP is concerned that they can afford a 77 day cruise, and so can afford to lose the deposit if they have to cancel!

It is crazy to insist they won't pay out for a travel policy now as the holiday is so far away!

In the OP they do say they are worried about losing the deposit, have been advised, yet still do nothing!

I have just renewed my annual policy which is for Europe only because I will not be going further before Feb next year. However I may book a trip outside of Europe for March 2013. I asked my current insurers about the need to upgrade my current policy to world even though I would not be travelling outside Europe before March.

I was told that I would have to upgrade it immediately, as soon as I made the March booking even though it would only be needed for a cancellation. By March I will have a new renewal.