Travel insurance for cruises: Is it worth the money?

Should you take out travel insurance when you go on a cruise? Read on to easily make well-informed decision.

14:45 12 January 2013

Buying insuranceisn’t something that most people are looking forward to. Although they provide protection for unforeseen events, paying for them is still additional cost. The good thing though is that they give you peace of mind knowing that should some things go wrong, there’s something that will save you unplanned expenses.

When going on a cruise, one thing that you need to consider is getting a travel insurance. Before you take the step, it’s useful to know some facts that can help you decide later on. First, you must know that almost all cruise deposits are refundable and that nothing is at risk until under full payment which is usually required 70-75 days prior to departure.

The risk of losing your money comes in the month prior to the departure. Generally, the closer to the sailing, the lesser the refund.

Getting a travel insurance from the cruise line

Most cruise lines are offering travel insurance. The good thing about getting the insurance directly from them is that it is very convenient. However, insurance offered by cruise lines are one-size-fits-all type of policy. There are no add-ons and customization isn’t possible. This only applies to your cruise investment and doesn’t cover your airfare if your flight gets delayed or canceled. It also doesn’t provide coverage for lost baggage and hotel and car rental fees.

Getting a travel insurance from third party

This is highly recommended for holidaymakers as they can be customized depending on your specific need. They are also generally cheaper compared to travel insurance offered by cruise lines. Premiums are flexible depending on the amount to be covered, extent of reasons for cancellations, and ages of the travellers.