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Cancellation insurance


#1

Cancellation insurance, need it or not. I have read where this is a cash grab by travel agents.


#2

Read the details of the insurance closely.
Just because work will not let you go is NOT covered.


#3

It’s a tough call even for me, and I work in the insurance industry… ::slight_smile:

However, there are lots of limits, exclusions that you need to consider. And alot of time the credit card you book with may offer it as well.

I guess it depends on the trip as well. For a last min deal for $500, versus a planned trip with family or friends for $2000 I may weigh the options.

But yes, I am sure there are some good incentives and kick backs to agents who can sell it!


#4

I never second guess it. I have it built into my credit card for the both of us @ $99 it’s a no brain-er and that’s for as many trips as you want per year. Way cheaper than what agents sell for the same thing.

I used it last April when I lost an earring in Cuba, I filled out the paper work and 16 days later I had the cheque in hand.

Mine you, as with all insurance, I think the basic thing is to deny or at least look for reasons to. If your drunk and break a leg you’re SOL! Or engage in anything risky.

One person traveling with this April canceled because she broke her leg, Doc says no travel. She had no insurance. Because we booked with the early booking bonus and cancel for any reason up to 45 days from departure she had it in the bag. She called on day 44…fewwwwwwwwww cutting it close. She now has credit card insurance. Nothing like a close call. She only lost $100 instead of $3000.


#5

I book last minute and save because I don’t buy cancellation insurance and get the best prices. If I have to cancel 3 days prior (yes, it could happen) then I lose. IMHO, the biggest risk for me is if something happened at the last minute on the way to the airport. Then, you get your holiday in a hospital bed.

Let’s face it, the insurance industry makes a fortune and we are forced to buy it in most cases.

It really depends upon your circumstances.


#6

[quote=@dax]I book last minute…
If I have to cancel 3 days prior (yes, it could happen) …
[/quote]

I think booking 3 days ahead is equivalent to an early booking bonus.

Check your credit card company.


#7

The way I look at it, can I afford to lose the cost of my vacation or the cost of the insurance? We have aging parents and if we had to last minute cancel would that be worth having the opportunity to rebook at a future time.


#8

Hey Canuks, does your insurance cover aging parents’ health emergencies?

If we ever needed a reason to live in a big city, the thought of grabbing a last minute sell-off heading South is what would convince us too, dax. :wink:
Our CC covers us as long as we book and pay with it. Then they send us 2% cash for using them. Whoopie! :sunglasses:


#9

yes there is insurance that will cover such issues. Friends used this kind of coverage last year when one aging parent was in a very bad way


#10

[quote=@alexander]Cancellation insurance, need it or not. I have read where this is a cash grab by travel agents.[/quote]As others have said, it depends very much on your own circumstances. As a very general rule, you should buy insurance for things that are very rare, but very bad if they do happen. Insurance is a way of spreading the cost of these very bad events over a large number of people. If you buy insurance for fairly common things that aren’t all that terrible if they happen, then just like gambling at the casino, over the long run you will lose, vs being self-insured, so to speak, because the insurance company has to make a profit on the business.

The way I look at it - just my personal circumstances - is that if I lose, say, $1200 for an AI week in Cuba, I’ll be really annoyed, but ultimately it’s not going to change my life or even my lifestyle too much. If my house burns down or I injure someone while driving, and I’m not insured, it will change my life quite seriously, and that’s why I have up to date coverage on my house and car.

As to whether the insurance sold by travel agents is good value, you can get a good indication by how hard they try to push you to take it that they are making a very good buck on it.


#11

Spunky…I agree…always envious of the deals and prices I see out of the bigger cities. Would almost justify the higher cost of living with the savings on my 3-4 trips a year I take!

That being said, been some great deals out of Halifax the past week…starting at $25 plus taxes with Sunwing for 4 days in Varadero!!

Cheapest I have ever seen out of anywhere in Canada!!


#12

Like others, we have it on our credit card but the cancellation insurance has a set limit. We take out additional coverage to cover the shortfall. For us, it’s a no brainer - spend $230 or take the chance of loosing $3000. I’m not a gambler!


#13

We buy year around travel insurance from blue cross this also covers cancellation insurance…way cheaper this way than paying ever trip for it. Cost for the year now is 501.00 Have also coverage on the credit card, but would never count on them for much…way to much small print for me…would rather have more than to little insurance…just have seen and heard of too many bad stories, with people who just did not have extra coverage and hope the B.C. coverage will be enough…well it’s not.