Trip Cancellation Insurance . . . is it worth it

You are asking specifically about trip cancellation insurance. I think you are right in questioning the need for this. You probably have some coverage already that you don't realize. For example, my credit cards usually provide some coverage if I purchased the airline tickets or made reservations using the card. Also, each purchase usually has its own rules. In my case, I review everything that I purchase in advance and understand my options plus investigate the coverage provided by my credit card. The only thing that I have found lacking is medical evacuation. Unfortunately, we had a family member who needed this service (and she had bought coverage). So, even though I think it is highly unlikely that such an event will occur, I pay for this particular coverage only. On my recent trip, I paid $75 for two of us. Seemed like a reasonable expense in light of the potential of a $25,000+ expense. As a young(er) adult, I never even considered it.

You can get coverage for all of the prepaid expenses, not just the airline portion. Do a web search for "trip cancellation insurance" and you will gets to many sources and you can compare prices and coverage.

I debated buying it two years ago, but our trip had to be cancelled due to the volcano ash. I was very happy to have the insurance. I used Access America (I think Allianz now...) and got back the value of any train tickets, down payments, etc. I remember that ours was relatively cheap, definitely not 10% of the ticket price. I would shop around... Just my personal experience.

I think it depends on your age and physical condition. Be sure to read the fine print regarding pre existing conditions. The region you are traveling to is also a determining factor. If there is a possibility of an
uprising it is a good idea to take out trip insurance.

I run the numbers to learn what "lost" amounts of pre-paid tickets/hotels, deposits, etc. are truly at stake for each trip. For example, some airlines may offer to re-schedule a trip to a future date charging a re-booking fee, assuming you wish to take the same trip at a future time. Thus, the full price is not at risk. Some hotels may refund all amounts depending on their policies. If needing medical insurance, an insurance policy to also cover some or all "lost" amounts can be affordable. Using insuremytrip.com is one good website to compare various policies.

You can check out a wide variety of policies at www.insuremytrip.com.

Like any insurance, it's easy to dismiss it until you need it. It is impossible to predict when emergencies will arise, so if losing the prepaid expenses would be painful, it's a good investment. I just ended up in the hospital, with no warning, 2 days before I was scheduled to leave for France. I'm very glad I had cancellation insurance; it is making it much easier to justify rescheduling the trip for this fall. (but I must say, Delta seems to be incredibly cooperative... it seems likely that they will refund my nonrefundable ticket, since I was in the hospital. And if that doesn't fly, they indicated the rescheduling fee will be waved because I was ill and hospitalized.)

Three years ago we bought trip insurance through Insuremytrip.com. First time we had ever purchased it. It covered a variety of things - ended up my husband (who we thought was quite healthy) got sick and was hospitalized for 3 days. The coverage was great and now we buy it for every trip.

We always travel with extra medical insurance but never with trip cancellation insurance. We've had to reschedule a few flights in the past but never paid more than a small re-booking fee. For this summer, we have booked a cruise and for the first time wanted to add trip cancellation insurance as my father-in-law has terminal cancer and we might have to stay home for him. However, we were told right away that this would be considered a pre-existing condition and not covered by any trip cancellation insurance ... So check the fineprint and see if it's truly worth it.

It had been my experience in the past when dealing with cruise lines that pre-existing condition clauses were waived if the insurance was purchased at the time of initial booking/deposit and not when final payment was made. Whether these policies still exist or whether there are exceptions based on varying conditions, I cannot say. Thankfully, we never needed the insurance, but always purchased it when travelling with Dad, who was 95 on his last cruise. At 95, I could not imagine what condition could not have been pre-existing. My sincere regards, Beatrix, and hope that all will be well for you and your family.

I broke my ankle while in Vienna on April 26th, only halfway through my vacation. I had no insurance of any kind, except for my own personal American health insurance. My bill at the hospital was 250 euro, with an additional 200 euro billed to me later. My insurance company is reimbursing me for about 60% of the cost. My unused nights in a hotel were 95% refunded. My unused return flight was able to be rescheduled for 11 months down the road, with help from a kindly ticket agent who refused to make me buy a $4000 one-way ticket back home.
The only insurance I would think about buying next time is extra health insurance. Everything else seemed to take care of itself.

My wife fell in Ireland and broke her shoulder bone. Our trip insurance paid for a $3,000 upgrade to 1st class as per Dr's orders! Also paid for all medical procedures that we paid for out of pocket, so long as we had receipts and documentation. Made a believer out of me! I wouldn't go with out it. We Purchased it again for our trip to N. Ireland/Scotland in Oct. We elected to get $1500/person coverage for $80/ person, secured at the time of the 1st payment out of pocket/CC for the trip (airline tickets) Didn't buy the airline insurance. We will be able to add any dollar amount on, at any time, if we find that the prepaid expenses will surpass $1500/person. Of course you will be billed for the premium inscrease (premium amount is based on the $ amount of coverage) Dan

My take is: it all depends on how much is really at stake. Two trips with different scenarios: - intercontinental normal flight (with US$ 150-200 cancellation fees) + rentar car with AutoEurope (can always be cancelled up to 48h before departure without charges) + normal hotel reservations on booking (can be cancelled without fees up to a couple days or even the eve of expected arrival) => No travel insurance - cruise, structured trip with plenty of excursions paid off in advance, trip with lots of vacation rentals with deposits => Insurance Most of the time I find it is not worth to me. What I always take is comprehensive health insurance.

Personally, I would never leave home without Travel Insurance that cover trip cancellation, medical evac and body evac. On the 1st of on a trip to Israel a lady died and the $139 travel insurance policy reimbursed her and her husband's entire expense of the trip. Which included cost of tour - $6,000 plus the son that lived in Israel to escort his father and mother's body back to the US. In addition, it covered the cost of the preparing the body for international transport which is very expensive. Well worth the money.

I think it is important. I booked my fare and tour with a travel agency. And 4 days later, the tour with Trafalgar was cancelled b Trafalgar! And I can't get a refund on my airfare anymore... and to book a different package, I need to change my fight and that cost extra $$$. Yes, it's not my fault, but I have to pay the price. If I have bought a travel insurance then, this wouldn't be a problem. But make sure you know what's the coverage of the insurance you are getting. Just my 2 cents.

I never used to buy trip insurance, but for the small cost, maybe $100+/- for about $3000-4000 coverage, I think it's well worth it. I use a site called squaremouth where you can compare the differences between 4 policies at a time to 1) get the coverage you need 2) and get the most for your money. http://www.squaremouth.com/ I look for coverage that covers job loss due to lay off (Last year I was confirmed in a job 2 days before our trip, but easily could have gone the other way.) I also look at the cost to cancel on short notice (a day or two before the trip); what would it cost in hotel deposits, and anything else prepaid that would not be refundable. Next, I calculate what it would cost in the event we had to cut our trip short for any reason; what deposits would we lose, what would it cost to change our flights, etc (if we fly on miles, we'd likely have to buy plane tickets). Lastly, since most travel insurance includes medical, might was well get the most bang for your buck; if something bad happens and requires specical transportation, etc, it will be more expensive than imaginable. Just checked above site and for $115, we could buy trip cancellation of $3000, trip interruption of $4500, $75K medical, $300K medical evacuation, job layoff coverage.
We've never had to use the insurance, but we've know people who used medical evaculation insurance , and another family who had a flight cancelled from Hawaii and the trip insurance covered everything for the 36 hour delay.

We've never had to use the insurance, but we've know people who used medical evaculation insurance , and another family who had a flight cancelled from Hawaii and the trip insurance covered everything for the 36 hour delay. Oh, there is never a question for me to have medical insurance including evacuation. I know of people who had to use it and of people who did not had it and got stuck with 5-figure bills ... I'd be interested to know what this cancelled flight was about. Wouldn't the airline who cancelled the flight on you have to cover the cost for an additional hotel night and the new flight?

I researched it and decided against insurance. Why pay a premium for the trip? If something goes wrong one is screwed in many other ways and the chance of collecting on insurance is always at risk. Pete
Europe 2012

That is quite possibly the strangest justification for not taking insurance that I have ever seen. Do you not keep health insurance or fire insurance either because the insurance might not pay?