Travel Insurance Case Study - Canceled Cruise

When travelers must cancel a trip for a covered reason, travel insurance allows them to recover 100% of their covered trip costs.

Experience shows that every traveler should purchase travel insurance as soon as they make their first trip deposit. “As soon” means no later than 14 days after the deposit date. Insurance can still be purchased after this timeframe, but it becomes more limited, as pre-existing conditions and certain other coverages may no longer be included.

A couple booked an expensive cruise and purchased travel insurance promptly. Three weeks before departure, one of them became ill. They called me worried they would lose their money because the cruise line’s policy stated the trip was nonrefundable. However, because they had travel insurance, they were able to file a claim with our guidance, and a check from the insurance company arrived at their home covering 100% of their nonrefundable costs. They recovered their money, and I continued cultivating valued clients.

The opposite can also be true. If the couple had not purchased the travel insurance we offered, they would have lost their money, might have attempted to sue me as their travel advisor, and we would have lost a client forever.

Whatever you decide—whether to purchase travel protection or not—it’s important to be informed. Some of my very wealthy clients choose not to purchase travel insurance because they self-insure. They understand that one day they may have to cancel a nonrefundable trip and lose the money, but their reasoning is that they have saved significantly on insurance premiums over time. Whatever your decision, we are here to be in your corner helping you make inforemed decisions.

René

rene@eawtravel.com