Trip Insurance and Placeholder

[Princesca]

I think I know the answer to this, but booking a placeholder is not an insurable event, right? In other words, I know you're supposed to get trip insurance within a certain period of your first payment, but I don't have any idea where the destination would be, or the dates, or anything that would enable me to select trip insurance, so I don't think the 'clock starts ticking' until I actually APPLY the placeholder, right? Thanks!

 

[AgentMama]

Correct. You haven't actually booked anything, so there is nothing to insure.

 

[lanejudy]

It's sort of a catch-22 if you are wanting to get benefits of buying insurance immediately after the deposit (which some insurers consider the $250 placeholder). What you CAN do is apply the placeholder to a "dummy" reservation -- just pick a short cruise far enough in the future that the PIF date won't come into play before you eventually reschedule it. Make sure the insurance you buy will allow you to change the dates/destination and add-on additional components as needed (flights, hotel, ground transfers, etc.).

 

[ironz]

I think I know the answer to this, but booking a placeholder is not an insurable event, right? In other words, I know you're supposed to get trip insurance within a certain period of your first payment, but I don't have any idea where the destination would be, or the dates, or anything that would enable me to select trip insurance, so I don't think the 'clock starts ticking' until I actually APPLY the placeholder, right? Thanks!

I asked this of one of the travel insurance aggregators, and they said the placeholder does count as your first date of payment. So maybe call who you plan to get insurance with to double check.

 

[Starwind]

I asked this of one of the travel insurance aggregators, and they said the placeholder does count as your first date of payment. So maybe call who you plan to get insurance with to double check.

I also found this to be the case. The placeholder counts as the "deposit" even though it is not yet applied to a specific cruise, as it is the first payment made.

I also found that in what way(s) it matters varied between insurers and the specific policies, so it is important to check with the specific insurer.

 

[Princesca]

I checked with a well-known site, and the agent told me that it didn't count unless I had booked dates. She said they can't possibly insure me with no dates or destination, and what I had paid for was not a cruise but a right to a discount on a cruise. So I feel better!

 

[Mango7100]

I checked with a well-known site, and the agent told me that it didn't count unless I had booked dates. She said they can't possibly insure me with no dates or destination, and what I had paid for was not a cruise but a right to a discount on a cruise. So I feel better!

I also checked with our insurance policy yesterday that we took out for our July 2024 cruise that we booked with a placeholder: placeholder was purchased months before the cruise booking. They said the same thing—they can’t insure a trip that has no dates, no destination, no length of travel, and no price. So the placeholder doesn’t count.

 

[OpieDoodle]

Buying a placeholder essentially is like buying a DCL gift card (more or less). It is just money you are GOING TO APPLY to a cruise. Not that's been applied yet.

 

[kiford]

We were also told the same thing - you can't insure a trip that doesn't yet exist and if even you could, the placeholder itself is refundable so it's not insurable in its own right.

 

[lanejudy]

I checked with a well-known site, and the agent told me that it didn't count unless I had booked dates. She said they can't possibly insure me with no dates or destination, and what I had paid for was not a cruise but a right to a discount on a cruise. So I feel better!

True, you can't insure the placeholder. Without a specific cruise date and itinerary and value, you cannot purchase insurance.

BUT if getting free cancel for any reason coverage or a pre-existing condition waiver (either might be an option if purchased within X days of making a deposit)... be sure to ask what will be considered the deposit date. That $250 for the placeholder becomes part of the deposit. As a PP mentions, it will vary by insurance plan/provider. Some consider the placeholder to be the first deposit date, others may not.