The New York Times “Haggler” column featured an informative and relevant article on travel protection insurance. Like all insurance – if you didn’t need to file a claim – you are happy. If, like me, you don’t buy things like earthquake insurance in Ranana and flood insurance in Beersheva – you are also happy.
But what if you were being cautious and bought insurance that covered Trip Interruption, Trip Delay, Trip Cancellation and whatever else you could think of? And what if you actually had to cancel the trip?
The New York Times covers a story of a couple that bought Trip Cancellation Insurance from the travel agent that sold them the trip. The premium was 10% of the cost of the trip (which is high for almost any kind of insurance – even for Bear insurance in Yellowstone). The husband had a heart attack and they cancelled.
The story only gets worse, and I won’t repeat it here. But if you are the type or even have good reason to buy Trip Insurance, bear in mind the following, when reading the fine print that you may get a credit (and only for use with the same travel agent) instead of a refund. The call center operators seem to be instructed to use every comforting word like “protection” and “guarantee” while never invoking the word “refund”. They will not say refund, but you will hear it. So, read the fine print and insist that the term “full refund” appears somewhere in the agreement. And enjoy your fall foliage cruise to New England.
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It is very important to make sure your insurance plan does what YOU WANT it to do. If you get insurance that you want to refund you when something happens like with cancellation insurance, make sure that your insurance provider and your plan will guarantee you a refund. The article is very interesting to read