Any chance of getting deposit back?

OptimusMegatron

Hi, My first post here so apologies if this post belongs elsewhere, just let me know.

Ok, so we booked a holiday (pre-covid) to Portugal at the tail end of last year via James Villa's (our first holiday abroad for over 12 years). Fast forward to April this year and looking at the news etc it is clear that this pandemic will not be going away in a hurry. As I am classed as clinically vulnerable (as is my elderly mother in-law) we thought that even if this does clear/lessen quickly that there will likely still be a degree of risk to us. My wife and I decide that rather than wait until July when our remaining balance is due, to cancel at at time (on the off chance that we forget or miss the date) and cut our losses and lose our £750 deposit (I also paid an additional £50 on credit card). We have a travel insurance via a Post Office policy AND via the bank (Nationwide) that I forgot I already had. I did check on the day that the remining balance would have been due and at that time Portugal was still on the no travel list. 
My question is: Is there any way to claim back all or part of the deposit from either my bank (debit card), credit card (James Villa already refunded the £50 paid on CC) or via one of the travel insurance policies and on what basis? I appreciate that I cancelled of my own free will but that was to mitigate the not insignificant and rather likely risk to health, the fact that if social distancing remained in force in any form, that it would have a detrimental effect of the holiday compared to what we would have experienced otherwise. Also the risk of significant financial loss to both me and an insurer should we claim for circa £3,000 by cancelling after the remainder of the balance had been paid knowing full well that there was a global pandemic at the time of paying that remaining balance. 

Hopefully that is clear and cover the all points. Many thanks in advance for any help.

Browntoa

You chose "disinclination to travel" by cancelling.

No policy I know covers that , and I suspect your credit card company would say the same

[Deleted User]

Unfortunately, as you cancelled rather than waiting to be cancelled, you will have to accept you have forefitted your deposit in accordance with the terms and agreements you signed.   No amount of sympathy with your reasons for cancelling will override this.  Only other point of call might be your insurance?   Have to say though it is doubtful if they will entertain your claim as you cancelled yourself.

Hasbeen

If only you had come here first before cancelling.

The advice would have been to wait, pay the balance and let them cancel or offer credit etc.

No insurance company will pay out, there would have been no significant financial loss to the insurance  company because you cancelled. So no payment.

Sorry! But it could have been worse, you could have paid the balance then decided to cancel? so £750 loss is probably better.

Nebulous2

When were you travelling? When did you cancel? What was the FCO advice at the time? 

You need to check your travel policies, under a section which is probably called cancellation. Some policies allow you to claim if you cancel within 28 days of travelling and the FCO advises against ‘all but essential travel’ That will depend on your insurer however. It does sound from your description as though you jumped too quickly. 

Westin

I’d agree with the first three replies received. Sorry, probably not what you want to hear.

OptimusMegatron

ok, I suspected as much. I'd rather take the hit of £750 than possibly having a potentially long drawn out claim over thousands. 
Thanks for all of the replies. I would have replied sooner but didn't get any notifications of replies (my fault for assuming I would )