Is there any benefit to buying cruise insurance prior to your PIF?

[squirk]

I buy travel insurance through Allianz Global. They don't care when your PIF date is, just the cost of the vacation. They have several plans to choose from. The reason that I buy insurance is not to get back the cost of the cruise, that is nominal, but in case something medical happens, especially out of the Country. If you have to be flown back to the States, those costs can bankrupt you. I get the plan that covers medical and transport back to the states. Travel insurance is a small price to pay for that peace of mind.

Yes, I use Allianz, too. I don’t question the indispensability of trip insurance. I just never paid attention to price changes (or lack thereof) for a certain level of coverage over time.

Usually, I buy the insurance soon after booking, and was about to do the same for a May ‘22 cruise I just booked. However, for some reason, this time it clicked in my head to ask “Why am I buying insurance now, when I have absolutely no money at risk until my PIF, which is over a year in the future?”

And that’s what prompted my original question. If the price of the coverage stays flat, why buy early?

 

[dobball23]

Yes, I use Allianz, too. I don’t question the indispensability of trip insurance. I just never paid attention to price changes (or lack thereof) for a certain level of coverage over time.

Usually, I buy the insurance soon after booking, and was about to do the same for a May ‘22 cruise I just booked. However, for some reason, this time it clicked in my head to ask “Why am I buying insurance now, when I have absolutely no money at risk until my PIF, which is over a year in the future?”

And that’s what prompted my original question. If the price of the coverage stays flat, why buy early?

Just so you know, I've asked the same question. We usually don't buy insurance, but my parents (in their 70s) are going with us on their next cruise and insurance might make sense for them. However, I've told them to wait until PIF since there is no money at risk until then. Not sure if it is the "right" choice or not?

 

[piccolopat]

Thanks. To clarify my question - no pre-existing conditions, extenuating circumstances or special situations.

To me, the question to ask yourself is "can I afford to lose the entire cost of my cruise if I had to cancel and didn't have insurance to cover the cancellation costs?". You say there are no pre-existing conditions, etc. but I will say I never had one until the day I did. Totally unexpected but it's there now. If you are buying your cruise well in advance of the sail date, you just never really know what could happen. Hopefully you never have to find out.

 

[squirk]

To me, the question to ask yourself is "can I afford to lose the entire cost of my cruise if I had to cancel and didn't have insurance to cover the cancellation costs?". You say there are no pre-existing conditions, etc. but I will say I never had one until the day I did. Totally unexpected but it's there now. If you are buying your cruise well in advance of the sail date, you just never really know what could happen. Hopefully you never have to find out.

Again, I am not debating whether to buy insurance.

I was trying to ask a straight-up general question about whether or not pricing rises over time. It sounds like it does not.

 

[piccolopat]

Again, I am not debating whether to buy insurance. I am asking if it matters when you buy it, barring any health issues. Straight-up question. It sounds like the answer is “no”.

The point I was trying to make is that it does matter when you buy it. If you opt not to and then develop a condition, you won't be able to buy coverage with pre-existing conditions included. This condition can be a pre-existing medical condition or an unfortunate accident such as breaking your leg a week before departure. You won't find anyone offering coverage if there is a hurricane heading towards where your cruise is going. You won't be able to buy last minute coverage if your airline cancels all flights the day before your cruise leaves or your car breakds down and you can't get to the port. Ignoring those possibilities, the closer you get to your departure date, fewer coverage options may be available even if the premium for those options doesn't change. Insurance is for unexpected and unforeseen events, not for something that is known or forecast. I suggest you check the websites for a few and plug in some scenarios so you can see for yourself.

 

[Lilsia]

Yes, I use Allianz, too. I don’t question the indispensability of trip insurance. I just never paid attention to price changes (or lack thereof) for a certain level of coverage over time.

Usually, I buy the insurance soon after booking, and was about to do the same for a May ‘22 cruise I just booked. However, for some reason, this time it clicked in my head to ask “Why am I buying insurance now, when I have absolutely no money at risk until my PIF, which is over a year in the future?”

And that’s what prompted my original question. If the price of the coverage stays flat, why buy early?

It used to be more common for insurance companies to either not sell it to you, or charge more the closer you got to your trip. That has changed over the years. I don't think with Allianz that it matters when you buy it. I usually get mine about a month out from my trip. If you are worried about getting your deposit back, that would be the only reason to buy it before PIF. I don't see the benefit of that though either. I would just wait.

 

[Sleepyluke]

It appears that for most companies, there is no price difference between a cruise in the Caribbean in March 2021 vs 2022. I did not look at every company, but it appears that for purely price reasons there is no difference except the addition of pre-existing conditions, which can be added to a few policies after deposit, but will add significantly to the price.

 

[DCLMP]

Thanks. To clarify my question - no pre-existing conditions, extenuating circumstances or special situations.

No. I don’t buy until until I’m past the lose more than your deposit tier. I’ve never noticed insurance going up in price. If you are young or middle aged and don’t require cancel for any reason insurance is pretty cheap. Kids are covered for free if not going through a cruiseline.