Holiday Insurance - Am I Missing Anything?

mufi

We've just paid a deposit on a holiday. Having done the usual searches, the insurance will be roughly as much as the deposit (various pre-existings, getting a bit long in the tooth). A friend has suggested waiting until the balance is due before taking out insurance, as should we need to cancel we will simply forfeit the same amount as the insurance would cost. Any flaws in this argument?

Quentin

A flaw could be that another condition develops which increases the premium from what it is now.

TrickyDicky101

Any cancellation you make does not necessarily limit your loss to the deposit you have already paid - you may well still be due to pay the full holiday cost.

mufi

Many thanks, Quentin, a good point.


TrickyDicky - I've checked the T&Cs, but thanks for the tip, which may be helpful to others.