Is travel insurance prudent for a cruise? This is a frequent question that arises with novice cruisers. The simple answer is that, “Yes, it is prudent if something happens to you. If nothing happens, then you lose.” The purchase is always a gamble, and typically, the house will win unless you’re the type of person who is chronically ill or is accident-prone. If, however, you spend $4000 or more on a trip and suddenly, there is an illness, car accident, or natural disaster, you will wish that you invested in travel insurance. Here are some of the advantages and disadvantages of travel insurance for a cruise that may provide peace of mind.

Advantages

1. Will Cover Trip Interruptions

Trip interruptions, such as a late return to a port or a missed flight, may cause people to lose a significant amount of money. Travel insurance is especially important if you are sick in another country. The insurance will cover your care at a medical facility and medical evacuation to another location if necessary for better treatment or care. If you are in a country where the medical physicians do not speak or understand your language well, this can be an impediment to your treatment. It is best to have travel insurance to cover the costs if your credit card or budget cannot handle the expenses.

2. Get a Full Refund

Most people will receive between zero and 50 per cent refund for an interrupted trip without travel insurance. With insurance, travellers can expect a full refund. According to many studies, one in eight adults in Canada has had a trip interrupted or cut short because of travel plans. Only 29 per cent of those people had travel insurance and got a full refund. The rest of the people only receive 50 per cent refund or less. If you don’t like to lose money for a trip that you are not enjoying, travel insurance may be a good idea.

In a rare instance, cruise companies will provide a full refund for the cruise and other perks for the inconvenience. In the past, some cruise liners have provided travel money to go home, $500 for the inconvenience troubles, and a free cruise to use in the future. Companies that offer these types of incentives value their customers and have more funds to cover unexpected trip interruptions. This is how they build customer loyalty.

3. Some Travel Insurance Will Cover Cancellations for Any Reason

Though this is rare, some travel insurance companies will allow customers to cancel their trips for any reason. Schedule changes are some of the most common reasons to change a vacation. The premiums for this type of insurance is higher than other types of insurance, but if your plans change at the last minute, you will not have to be concerned about losing a $4000 to $20,000 investment. This gives travelers the peace of mind to reserve a trip knowing that they can cancel at any time if necessary.

4. Take Your Chronically Ill Relative Anywhere

With medical tourism and travel insurance, there is almost no place that a person can go without being prepared for an uneventful illness. This is why “cancel for any reason” provisions are necessary. This helps families of all types travel to locations that they have always dreamed of. This allows people the opportunity to plan for every family member without losing any money. Most families think the extra insurance is worth the effort. Keep in mind that cruise ships also offer medical care, but some cases may require airlifting the patient to a hospital. Travel medical insurance will cover these instances.

Disadvantages

1. Travel Insurance is Expensive

Travel insurance is so expensive that people can expect to spend seven per cent of their total trip cost to ensure that baggage, personal health, and trip interruption insurance is covered.

2. Finding the Right Insurance Requires Time

Finding the right insurance plan may require some shopping around, but with the right amount of effort, affordable insurance can be found.

3. Small Chance You Many Need It

With only a small chance that you may need the insurance, you may waste money, but you will save much more if something occurs. Travel insurance is necessary for this reason.

Travel Insurance Is Necessary for a Cruise

Many people think that travel insurance is not necessary until they need it. Every person should consider travel insurance to protect their investment and ensure that their trip is not without problems. When you purchase travel insurance, you will have peace of mind knowing that your money will be replaced if an unplanned event happens.

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