BMO travel insurance-wow!

[son3disfan]

Just bought travel insurance ( trip cancellation and interruption) as well as rental car additional insurance for $60.00! and it covers trips for the whole year!
Wow!

What am I missing here? It sounds too good to be true!
I have been researching travel insurance for some time now and could not find a policy with cancellation under $300. And Caa would even sell it as it had to be purchased when the deposit was paid ( we are going on a cruise, so deposit was over a year ago...)

Anyone care to comment on this policy that has purchased it before?
It is only available to BMO credit card holders and a portion of the trip needs to be purchased on the card. It is a yearly plan.

Would love to hear feedback! Thanks.

Eta: here is policy highlights....


Comprehensive Coverage
BMO Travel Protection with Trip Cancellation – $60*/year
Collision damage waiver insurance for car rentals
Up to $500,000 in common carrier accidental death and dismemberment insurance**
Up to $2,500 per family member and $5,000 per account towards costs associated with trip cancellation
Up to $2,000 per family member towards costs associated with trip interruption or trip delay
Up to $750 per trip, per family member towards costs associated with baggage delay, loss or damage
Up to $500 per account per trip towards costs associated with delayed flights
Unexpected return home and trip assistance
Unlimited number of trips per year

 

[vacation_junkie]

Just bought travel insurance ( trip cancellation and interruption) as well as rental car additional insurance for $60.00! and it covers trips for the whole year!
Wow!

What am I missing here? It sounds too good to be true!
I have been researching travel insurance for some time now and could not find a policy with cancellation under $300. And Caa would even sell it as it had to be purchased when the deposit was paid ( we are going on a cruise, so deposit was over a year ago...)

Anyone care to comment on this policy that has purchased it before?
It is only available to BMO credit card holders and a portion of the trip needs to be purchased on the card. It is a yearly plan.

Would love to hear feedback! Thanks.

Eta: here is policy highlights....


Comprehensive Coverage
BMO Travel Protection with Trip Cancellation – $60*/year
Collision damage waiver insurance for car rentals
Up to $500,000 in common carrier accidental death and dismemberment insurance**
Up to $2,500 per family member and $5,000 per account towards costs associated with trip cancellation
Up to $2,000 per family member towards costs associated with trip interruption or trip delay
Up to $750 per trip, per family member towards costs associated with baggage delay, loss or damage
Up to $500 per account per trip towards costs associated with delayed flights
Unexpected return home and trip assistance
Unlimited number of trips per year

We have had this annual policy for 6 years! we LOVE it! We usually travel a couple times a year and this suits our family perfect!! Only stipulation is that you MUST book your trip with your BMO Card to be covered!

 

[son3disfan]

We have had this annual policy for 6 years! we LOVE it! We usually travel a couple times a year and this suits our family perfect!! Only stipulation is that you MUST book your trip with your BMO Card to be covered!

Right. The agent said " a portion " of the trip needed to be on the card.

Glad you like the policy. Have you ever needed to make a claim? How was customer service?

 

[mkmommy]

There is no medical, maybe the other plans had that included.

 

[son3disfan]

There is no medical, maybe the other plans had that included.

Medical is in the $99.00 annual plan.

We just needed the cancelation and interruption.

 

[tgropp]

Yes this is a great policy as I have had it for at least 7 years. Two years ago, our son was seriously ill the month leading up to our cruise and we started to make plans on using the insurance to cancel. It turned out that we did not have to cancel but the people were very helpful and walked us through the process. The funny thing was that the rep advised us that we could cancel up to around 48 hours and advised us to wait till the last minute...and I am glad that she did .

 

[nannye]

I do not have health insurance. I travelled to Florida last summer without purchasing extra insurance. I got really lucky. The day before we were to leave, I got really sick. Very high fever etc... I should have gone to the hosp but we didn't think it was serious. Felt better the next day which is when we flew home. That night I ended up in emerg at home. I had cellulitis which is blood poisoning, really bad and was on IV meds for a week. I was lucky, but should have purchased extra insurance. This trip, just yesterday I was looking up insurance for. I was looking up medical and trip cancellation etc.... My quote was $250 . But then my friend said to me all you need to do really is get medical because even if you find out 2 days before you leave that yU can't go to Disney you can just change your dates. This doesnt apply to flights since I am not booking the flight, my boss is. This made perfect sense tho and saved me $220!

 

[cab0899]

I've had this insurance for years and have used it twice (lost camera and hotel expensives after cancelled flights). I get medical insurance through work and so just keep the annual charge on my mastercard and I'm covered for all trips we take.

 

[Questforthemouse]

I do not have health insurance. I travelled to Florida last summer without purchasing extra insurance. I got really lucky. The day before we were to leave, I got really sick. Very high fever etc... I should have gone to the hosp but we didn't think it was serious. Felt better the next day which is when we flew home. That night I ended up in emerg at home. I had cellulitis which is blood poisoning, really bad and was on IV meds for a week. I was lucky, but should have purchased extra insurance. This trip, just yesterday I was looking up insurance for. I was looking up medical and trip cancellation etc.... My quote was $250 . But then my friend said to me all you need to do really is get medical because even if you find out 2 days before you leave that yU can't go to Disney you can just change your dates. This doesnt apply to flights since I am not booking the flight, my boss is. This made perfect sense tho and saved me $220!

If you bought a Magic Your Way package you would put down a $200 deposit. The balance is due no later than 45 days from arrival. If you cancel after the 45 day mark Disney's cancellation policy states you will lose the $200 deposit. It is possible that if you called and changed the dates that you might get lucky and they refund your deposit but I wouldn't count on that. Technically, you are cancelling one reservation and booking a new one. Having said that, you would only lose the $200 deposit which is still cheaper than the Cancellation Insurance quote your received.