Vacation Insurance or No Vacation Insurance

[UPbeekeeper]

I can understand that choosing to purchase or decline vacation insurance is probably a highly personal preference, but I am curious to see what your pros and cons are on either side of the argument.

I have never purchased vacation insurance of any kinda and I guess I've always been extremely lucky to never have any issues.

In particular I was looking at the Disney packages, and their cost for insurance is like $139.00, which is of course, optional. My first inclination is that I'd rather save that money to use on my trip for more Disney crap I don't need, but is that an irresponsible way to look at things?

Any thoughts on this subject?

 

[nepalostparks]

For larger trips, especially those far away from home or overseas, travel insurance is a very, very good idea. More than just protecting you luggage or if a flight is delayed, the biggest pro for me is the medical insurance that you can get through a travel insurance policy. Many insurance plans people have through their place of employment do not provide enough (if any) coverage for an emergency flight home, out of network care, etc.

However, I almost never buy the insurance direct through the travel provider. You can often get a much better amount of coverage for a far better rate by going through a third party insurance provider. I have used squaremouth myself in the past, and I've also heard good things about insuremytrip.

Thankfully, I've never had to use the insurance... but it's one less worry in the vacation planning process for me.

 

[disneygirl76]

I have never purchased it either. You get a full refund until 45 days prior so I guess I just hope and pray that nothing happens with in that 45 days. I agree it is highly personal and like you, would rather buy Disney stuff like mugs that don't fit in my cupboard and popcorn buckets! :lol:

 

[DisneyJoe]

I have never purchased it either. You get a full refund until 45 days prior so I guess I just hope and pray that nothing happens with in that 45 days. I agree it is highly personal and like you, would rather buy Disney stuff like mugs that don't fit in my cupboard and popcorn buckets! :lol:

Travel Insurance is not really meant to be used BEFORE your trip, except when it includes a "cancel for any reason" clause - and especially when the cancellation policies are so liberal, like WDW. Most insurance, especially WDW's, is meant for, and has the most benefits, once the day of your trip has arrived. Flight delays, baggage delays, medical incidents once you leave home and are at your destination, things that happen during your trip and even on your way home - and what if you have to cut the trip short and leave, especially with an alternate flight? THAT"S what travel insurance is for. If you need to leave or have other issues that are covered, you can get most of your trip costs reimbursed.

I usually only recommend it for WDW if you have the potential for really bad weather that would cause cancellation, or medical issues that could interrupt your trip.

With a cruise, I HIGHLY recommend it for 3 reasons - 1) you will be traveling outside of the US, and if something goes wrong medically that the cruise staff cannot handle, they may drop you at the closest hospital, which most likely would be in a foreign country - and you would be responsible for getting yourself home. 2) the high cost of medical coverage and transportation while traveling internationally. 3) the higher cost of a cruise, and the stiff cancellation penalties. For example, after making full payment at 75 days, if you cancel 45 days or less before travel, you have lost your 20% deposit. If you cancel 44 to 30 days before travel, you lose 50% of your total cruise fare, and so on. (cancel penalties differ for concierge and suites)

 

[I_heart_Tigger]

I'm from Canada so it's a little different story for me - you know we northerners are all terrified of your medical system right :lol:

But I HAVE had to use insurance for 3 different reasons on 4 different trips to Disney:

1. My father had a heart attack a few days before we were due to go and it was quite serious so we cancelled - got all of our money back and used it to book a trip a few months later when he was better. (Cancellation Coverage)

2. Fell down at Disney and had to be taken to the hospital and get bandaged up - on another trip our bus to was hit by a truck and my grandmother was hospitalized when she complained of neck pain - turns out she was fine but better safe than sorry. (Medical Coverage)

3. My baggage was lost for 2 days - it went to New Jersey for some strange reason...didn't even know my luggage wanted to go there. (Lost and Delayed Baggage coverage)

In every case the amount I was paid out of the insurance was way more than the insurance cost. Even the 2 days of lost baggage paid me $100 per day to purchase necessities.

I don't necessarily get insurance when traveling within Canada but outside of Canada I always do.

Just remember no one ever plans on canceling their trip (I just love when people tell me they don't want cancellation insurance because they're not going to cancel...ok...so when your father has a heart attack you'll just wish him luck and hop on a plane then?). No one plans to have an accident or lose their luggage - that's what insurance is - protection for the things you can't plan for.

 

[Uncle Lupe]

I took the insurance. But we had flights and relatives to be worried about. After 4 years of savings and the amount spent $130 was not that big of a cost to add. Maybe I just have bad luck but insurance is always a good deal for me.

 

[jlevis]

I buy it. I was diagnosed with cancer 2 1/2 years ago and have had 2 surgeries and radiation therapy once since. I"m doing very well and have a BIG trip to the World coming up in august to celebrate turning 70. Needless to say things can go south pretty quickly and the cost of the insurance is more than worth it for me.

Let me add that I'll be really PO'd if I die before this trip.

 

[real mad hatter]

Have A Ball.

I buy it. I was diagnosed with cancer 2 1/2 years ago and have had 2 surgeries and radiation therapy once since. I"m doing very well and have a BIG trip to the World coming up in august to celebrate turning 70. Needless to say things can go south pretty quickly and the cost of the insurance is more than worth it for me.

Let me add that I'll be really PO'd if I die before this trip.

Hey big man,You'll be fine so go ahead and celebrate like your 17 not 70.I'll be the big 60 on my trip and I'll have a Hoolie!:wave:

 

[real mad hatter]

A Must For Us.

Yep, no matter where in the world we travel we always get insurance,after splashing out $6000 on a vacation,I don't mind the $100 for insurance.

 

[Disney05]

I've been debating this with my wife. We have never purchased insurance in the past. But we're going in August this year. So with the potential, as minimal as it is, of a hurricane and we have 3 elderly, in not that great health, parents to worry about, I think it's worth it this trip.

 

[captainkidd]

I don't buy insurance for our WDW trips, simply because we book everything separately. Room only you can get a full refund 5 days in advance. If for some reason we had to cancel, it'd only cost 1 nights stay. Tickets can always be used for the next trip. And airfare you can always get a credit for.

 

[tarin24u]

Since we go in August we do get trip insurance - I don't know if I would in March or April. But I do agree when you spend $6000 on vacation $139 is not a big deal. I have taken out insurance when I travel outside the US and feel very lucky to not have needed it. Better safe ...

 

[Monty]

Assess your risk aversion level and insure accordingly.

Also, check what coverage you may already have. A lot of credit cards [particularly "Gold" or "Platinum" cards] have travel insurance built in if you pay for your trip using the card. Your employer health plan may have coverage. Look at everything and determine what is or isn't already covered and decide if you need additional insurance to cover the rest.

Determine how much cost you can afford to absorb if it's lost. Insurance costs money. If you travel a lot and can afford to absorb the hit of a problem coming up, it may not be worth insuring. As an example, I never buy the extended warranty for consumer electronics. I can take the hit if something breaks after the regular warranty expires, but the money I haven't spent on extended warranties over the years adds up to enough to replace everything I currently own and I certainly haven't replaced that much that would have benefited from the coverage.

If you've had to scrimp and save for a few years to afford the vacation, insure it. If you're "comfortable" and can take a loss in stride, don't.

 

[wannabeBelle]

Travel Insurance is not really meant to be used BEFORE your trip, except when it includes a "cancel for any reason" clause - and especially when the cancellation policies are so liberal, like WDW. Most insurance, especially WDW's, is meant for, and has the most benefits, once the day of your trip has arrived. Flight delays, baggage delays, medical incidents once you leave home and are at your destination, things that happen during your trip and even on your way home - and what if you have to cut the trip short and leave, especially with an alternate flight? THAT"S what travel insurance is for. If you need to leave or have other issues that are covered, you can get most of your trip costs reimbursed.

I usually only recommend it for WDW if you have the potential for really bad weather that would cause cancellation, or medical issues that could interrupt your trip.

With a cruise, I HIGHLY recommend it for 3 reasons - 1) you will be traveling outside of the US, and if something goes wrong medically that the cruise staff cannot handle, they may drop you at the closest hospital, which most likely would be in a foreign country - and you would be responsible for getting yourself home. 2) the high cost of medical coverage and transportation while traveling internationally. 3) the higher cost of a cruise, and the stiff cancellation penalties. For example, after making full payment at 75 days, if you cancel 45 days or less before travel, you have lost your 20% deposit. If you cancel 44 to 30 days before travel, you lose 50% of your total cruise fare, and so on. (cancel penalties differ for concierge and suites)

I also recommend it highly when traveling to WDW with small children. If asmall child gets sick, that can really end the trip quick.
As far as airlines, there are some rather heavy cancellation and change fees that would be covered through the insurance.
Marie

 

[wannabeBelle]

I buy it. I was diagnosed with cancer 2 1/2 years ago and have had 2 surgeries and radiation therapy once since. I"m doing very well and have a BIG trip to the World coming up in august to celebrate turning 70. Needless to say things can go south pretty quickly and the cost of the insurance is more than worth it for me.

Let me add that I'll be really PO'd if I die before this trip.

Best wishes for a great trip for you!!! Marie

 

[copcarguyp71]

We always buy the insurance. For us travelling with a 9 year old DD it is worth the peace of mind. Even with that not taken into account years ago when it was just my wife and I we still always bought the insurance. We were on a cruise and two of our bags did not make it to the ship before we sailed. By the time they caught up to us we were at port in Mexico. Well, apparently the slimy jerks in customs ala Mexico decided that some of the things in the bag were too nice not to keep for themselves(including prescription meds) and then also opened every perfume, shampoo and hand cream bottle leaving the tops off and tossed them back into the bag. We could smell the bags before we even turned the corner towards our stateroom. Roughly $900 worth of stuff was either missing or ruined. We were compensated for every dollar even without receipts through the travel insurance company.

Also with kids you NEVER know when they will come down with something or get injusred and I WILL NOT drag my kid to Disney sick. I would prefer having the choice of putting a trip to having to travel with a kid in a leg cast rather than being out $2000-$5000 if we chose to stay home.

These are the thoughts I go through but in the end it is a very personal choice. I would rather spend $139 knowing it is buying us peace of mind.

 

[wannabeBelle]

Just as an FYI, The Disney travel insurance will cover your flights regardless of if you book them as a part of your vacation package or separately on your own. So if you purchase the Disney insurance, there is no need to take the airlines insurance as well, as it would duplicate the coverage. Marie

 

[jlevis]

Hey big man,You'll be fine so go ahead and celebrate like your 17 not 70.I'll be the big 60 on my trip and I'll have a Hoolie!:wave:

Thanks Hatter, don't think I want to be 17 again but 60 is good. I retired then. :animwink:

 

[jlevis]

Best wishes for a great trip for you!!! Marie

Thank you Belle. Our sons and their families will be joing us and maybe our first greatgand child. I'm really looking forward to this trip.

 

[UPbeekeeper]

So many interesting things to think about on both sides of the coin. Thanks so much for your ideas, thoughts, suggestions, and experiences.