Should I cancel my travel insurance?

avoniel

I have a cruise booked with cruise and maritime in August. I took out travel insurance a fortnight tomorrow. At the moment cruises are cancelled until mid April with an offer of 100% refund or 125%. Credit. 

The way things are going I think it is 50/50 the cruise will go ahead in August. Maybe less. If it is I expect to get full refund and not have to claim on insurance as there is no flights or hotels involved. 

I only have until tomorrow to cancel insurance in the cooling off period.  My wife an I both have underlying medical conditions so insurance was near £300 for 1 week cruise cover. My thinking is if I cancel now and cruise is not cancelled I can take out new insurance nearer the time. We want to go on cruise but just don’t want to lose the £300 if company cancel cruise at later date. 

Grateful for any advice. 

Westin

"At the moment cruises are cancelled until mid April with an offer of 100% refund or 125%. Credit."

The problem is no one knows what the situation will be for your cruise in August.   Your cruise may or may not operate.  More importantly however is what will your cruise line's position be after all these months of not trading.   Will they be there to offer you a full refund?  By August will they only be able to offer a travel waiver/credit?  What they do for cancelled April cruises may not be what is offered or available for an August departure.

I personally would probably leave the insurance in place - but others may have a different view.