03-16-2010, 10:20 AM
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#1
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First Line Centre
Join Date: Oct 2006
Location: Fantasy Island
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Cancellation Insurance?
Tapping into the collective CP wisdom... Wondering about purchasing travel cancellation insurance for a trip we've got coming up in May. Just booked a 100% non-refundable cruise and have until end of day today to confirm if we want to purchase the cancellation insurance through our travel agent. For 2 adults and a baby she's quoting us just over $300. (which is about 10% of the cruise cost). Seems a little steep to me considering that's insurance for cruise only and doesn't even cover our flights or anything.
Can we do better on cancellation insurance through an independent insurance agency? If so, who should I call?
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03-16-2010, 11:06 AM
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#2
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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I think that you can do this cheaper. I sent you a PM with some more details.
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03-16-2010, 11:12 AM
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#3
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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Yeah it seems a little high, though prices can vary wildly.. I used to have lots of good prices from RBC for their travel insurance.
Last trip we did my wife found some travel insurance that was almost the same price as for the one trip, but it was good for an entire year for as many trips as we took. I'll try and find the info.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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03-16-2010, 11:16 AM
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#4
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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Quote:
Originally Posted by photon
Yeah it seems a little high, though prices can vary wildly.. I used to have lots of good prices from RBC for their travel insurance.
Last trip we did my wife found some travel insurance that was almost the same price as for the one trip, but it was good for an entire year for as many trips as we took. I'll try and find the info.
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We have coverage that will go to age 80 as well. I really should maintain the utmost professionalism here, so all I'll say is that I would never buy an RBC travel policy for me or my family.
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03-16-2010, 03:39 PM
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#5
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Franchise Player
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I'm in the business and don't buy cancellation insurance for myself, and I travel a lot. Except maybe in the rare case where I suspect something may happen, otherwise I'm what is called self insured. Health and medical is another matter. Don't leave home without (a lot of) it. I could state lots of reasons why I feel as I do but don't have time right now.
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03-16-2010, 03:45 PM
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#6
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Appealing my suspension
Join Date: Sep 2002
Location: Just outside Enemy Lines
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That seems like a lot for just Cancellation Insurance on the cruise. I've always held the theory that if I have a trip booked and I have to cancel it....I've got a lot worse issues than the money I committed for the trip.
__________________
"Some guys like old balls"
Patriots QB Tom Brady
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03-16-2010, 04:03 PM
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#7
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Franchise Player
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If its a 100% non refundable cruise what will the cancellation insurance cover ???
Flights only ?? If so that's a bit steep.
__________________
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03-16-2010, 04:27 PM
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#8
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First Line Centre
Join Date: Aug 2005
Location: Kelowna, B.C.
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I pay like $130/year from TD Canada Trust for Medical, cancellation, trip interruption, luggage goes missing, etc... It also covers an unlimited number of trips up to 17 days long.
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03-16-2010, 04:44 PM
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#9
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Franchise Player
Join Date: Jul 2003
Location: In my office, at the Ministry of Awesome!
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Quote:
Originally Posted by Nufy
If its a 100% non refundable cruise what will the cancellation insurance cover ???
Flights only ?? If so that's a bit steep.
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Wow, did you read the first post.
The insurance is to cover the cost in case he can't go on the 100% non-refundable cruise (that's why he wants insurance), and it doesn't cover flights.'
Though I can see why you might get confused by ambiguous statments like "Seems a little steep to me considering that's insurance for cruise only and doesn't even cover our flights or anything."
__________________
THE SHANTZ WILL RISE AGAIN.
 <-----Check the Badge bitches. You want some Awesome, you come to me!
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03-16-2010, 04:49 PM
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#10
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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Quote:
Originally Posted by Red_Baron
I pay like $130/year from TD Canada Trust for Medical, cancellation, trip interruption, luggage goes missing, etc... It also covers an unlimited number of trips up to 17 days long.
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Yeah that's what we have as well I found out, from TD as well.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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03-16-2010, 09:45 PM
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#11
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First Line Centre
Join Date: Oct 2006
Location: Fantasy Island
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Yes, the cruise line has my money and it's not coming back to us, no matter what happens. The insurance would be to reimburse us that money in case something unforeseen happens and we need to cancel.
Lots of good suggestions here and via PM. Thanks all!!
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03-16-2010, 10:16 PM
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#12
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Franchise Player
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If you qualify for Meloche Monnex, they have an excellent travel insurance package for something like $150 a year.
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03-17-2010, 06:13 AM
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#14
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Powerplay Quarterback
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my wife used to be a travel agent and she only sold rbc insurance. It covered medical, trip cancelation, lost luggage. mech failures etc. It came in handy last november when the plane to Costa Rica had a mech failure. Flight was cancelled. RBC told us to book whatever we needed to get there plus gave us up to $350 each for hotel, taxis, food etc. They really are no hassle. Some friends of ours on the same flight took the expedia insurance, which even cost more, and they weren't covered for mech failure.
$300 may be a small price to pay if there is an emergency in the family and you have to cancel.
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03-17-2010, 10:13 AM
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#15
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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And just to make people mad, commission on travel insurance is quite high, when I did travel stuff I think we got 20-40% commission depending on the product. 
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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03-17-2010, 10:17 AM
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#16
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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Quote:
Originally Posted by photon
And just to make people mad, commission on travel insurance is quite high, when I did travel stuff I think we got 20-40% commission depending on the product. |
I suppose percentage wise that is quite high. Unfortunately for brokers though a lot of policies are $7...so even at 1/2 of that its nothing to write home about!
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03-17-2010, 10:20 AM
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#17
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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That's true. When we did travel stuff we tried to stay away from stuff like that (this was in the age before expedia and stuff really took off), if someone wanted to book a $200 flight and get the $15 dollar insurance we told them to call the airline, we only booked stuff like that for repeat customers who were also booking bigger trips.
$3.5 commission isn't worth it unless it takes less than 2 minutes to do lol.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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03-17-2010, 12:33 PM
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#18
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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Hm, someone registering from an insurance company today, I wonder if they'll try to advertise their business in this thread.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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