Author Topic: Trip/Travel cancellation insurance?  (Read 2726 times)

jeromedawg

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Trip/Travel cancellation insurance?
« on: June 04, 2016, 02:19:33 AM »
Hi all,

Was curious what, if any, trip/travel cancellation insurance companies you've used when dealing with vacation rentals where there is no cancellation provisions (e.g. you cancel and you lose your downpayment in full). We're looking at renting a place in Hawaii and I find it a bit strange that there's no cancellation provision (usually at a minimum they'll say you can cancel up until 90 days out and get your money back, etc). In this case, we're planning over half a year out in advance and there's no such provision. Only protection is to by insurance through their suggestion provider ("CSA") or buy it ourselves. NOTE: I have Chase Sapphire and called to ask and their trip cancellation policy only applies to airfare and hotels, not vacation rentals.

Any ideas?

BTW: the CSA trip cancellation insurance is $108 ("reimbursement of non-refundable trip cost if you must cancel your trip or cut it short due to covered sickness, injury or other events"). Deposit is $512 and the rest would be due 11/1. So if we don't get insurance, it looks like we'd be out $512 if we have to cancel before 11/1.
« Last Edit: June 04, 2016, 02:22:09 AM by jplee3 »

Melisande

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Re: Trip/Travel cancellation insurance?
« Reply #1 on: June 04, 2016, 04:59:45 AM »
I'm just curious. Why do you feel like you need to buy insurance in the first place? Do you or someone in your family have an illness that might flare up unpredictably? Do you have an unpredictable work schedule? Is there any other concrete reason you can think of now which likely to influence your vacation? If your vacation is more or less written in stone and you are in good health, and there is no other concrete reason to worry, I'd just forget about the trip insurance if I were you.

Sorry don't have actual insurance to suggest.

ltt

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Re: Trip/Travel cancellation insurance?
« Reply #2 on: June 04, 2016, 07:01:39 AM »
I'm a big believer in trip insurance, especially as we've had to use it before.  Ours was due to flight interruption, and the airlines could not find us another flight to get on that day.  We ended up having to travel back to our home and then took a flight out the next day (we do not live that close to an airport).  Therefore, we had to cancel our hotel stay that night (which happened to be in Hawaii with two rooms booked).  Just trying to begin our trip was a major pain, but at least we did get reimbursed. And when we flew the next day, were upgraded.

You just never know anymore how travel will go.  Who knows, the vacation rental could get damaged by a storm.  Or a lot can change in 6 months with someone's health.  And let's face it, airline travel has gotten more difficult.  Plus, I'm sure you are spending a fair amount of money to travel to Hawaii.

I would look online at www.insuremytrip.com.  I've never used them, but hopefully you can get some answers in regards to the vacation rental.  You will probably need to call them to get your questions answered.

https://www.insuremytrip.com/learn/types-of-travel/insuring-summer-rentals.html

ZMonet

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Re: Trip/Travel cancellation insurance?
« Reply #3 on: June 04, 2016, 07:08:10 AM »
My general take towards insurance is that it is better to self insure unless you know that for some reason you are at a much higher risk than the typical person. 

Another thing to look into is whether you have any credit cards that offer travel insurance as a "free" perk.  For instance, the Chase Saphire Preferred card includes travel insurance.

From the Chase website:

TRIP CANCELLATION/TRIP INTERRUPTION INSURANCE
If your trip is canceled or cut short by sickness, severe weather or other covered situations, you can be reimbursed up to $10,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.

jeromedawg

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Re: Trip/Travel cancellation insurance?
« Reply #4 on: June 04, 2016, 10:26:29 AM »
My general take towards insurance is that it is better to self insure unless you know that for some reason you are at a much higher risk than the typical person. 

Another thing to look into is whether you have any credit cards that offer travel insurance as a "free" perk.  For instance, the Chase Saphire Preferred card includes travel insurance.

From the Chase website:

TRIP CANCELLATION/TRIP INTERRUPTION INSURANCE
If your trip is canceled or cut short by sickness, severe weather or other covered situations, you can be reimbursed up to $10,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.

Yes, I mentioned we have sapphire but that they don't cover vacation rentals. Was looking for suggestions on other insurance companies to use specifically for vacation rentals

jeromedawg

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Re: Trip/Travel cancellation insurance?
« Reply #5 on: June 04, 2016, 02:50:17 PM »
So the initial rep gave me misinformation - I called back and confirmed with two other reps that I should be covered purchasing vacation rentals via property mgmt companies (as long as it's not like via Craigslist, where I'm booking a place directly from a private individual, etc)

Choices

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Re: Trip/Travel cancellation insurance?
« Reply #6 on: June 04, 2016, 04:20:29 PM »
We generally forgo trip insurance--if we couldn't afford to lose our deposit, then we shouldn't be spending that much on the trip.

Sure, it's a bummer if things don't work out, but trip insurance is expensive and there are many reasons for canceling a trip that aren't covered.

Finally, working with insurance companies is a giant pain in the neck most of the time and they try ever trick in the book so they don't have to reimburse you.

jeromedawg

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Re: Trip/Travel cancellation insurance?
« Reply #7 on: June 04, 2016, 04:35:18 PM »
We generally forgo trip insurance--if we couldn't afford to lose our deposit, then we shouldn't be spending that much on the trip.

Sure, it's a bummer if things don't work out, but trip insurance is expensive and there are many reasons for canceling a trip that aren't covered.

Finally, working with insurance companies is a giant pain in the neck most of the time and they try ever trick in the book so they don't have to reimburse you.

I think we're just going to depend on the insurance offered through Chase Sapphire. It sounds like they'll it should be covered in case something comes up.

kite

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Re: Trip/Travel cancellation insurance?
« Reply #8 on: June 14, 2016, 03:01:11 PM »
We've used Allianz.
Used to self-insure and just absorb the cost, then a friend of ours had a minor stroke while in the Caribbean.  They needed a $30,000 medical evacuation home. 
I had occasion to use it in February of this year.  The benefit more than paid for a lifetime of premiums.