If you want Cancel for any reason, then Tauck is cheaper. If you risk insurance without that, then independent insurance. We travelled on a non Tauck tour last year, we had taken out the Cancel for any reason, but the maximum back was 70% of the tour price which apparently is standard with most insurances, which is why Tauck is a good deal,
BKMD. I know that is your choice and respect it. What about countries that insist you enter with insurance? You must have encountered some of those, we certain have over the years.
Travel insurance has two components, each of which can be purchased separately.
The first, and the one you certainly should have, is travel medical insurance. This pays if you have any medical issues during the trip and also covers repatriation if you have a serious issue, or to repatriate your remains if you die during the trip. This insurance is available from many places, I use “Travel Insured International,” but many other companies offer similar coverage. It’s fairly inexpensive and you can purchase an annual plan, which will cover you for any trips during the 12 months of coverage. I think the last time I purchased an annual plan it was less than $200/person. If you do it trip-by-trip it’s probably around $100/person/trip.
The second, and much more expensive, component is coverage for the cost of your trip. You can get coverage that has a list of covered perils, or “cancel for any reason”. The second is more expensive than the first, and usually has some limitations, perhaps that you can’t cancel two or three days before the tour/cruise, and you may not get 100% of your money back.
As BKMD points out, you can save a lot of money by self-insuring, especially if you do a number of trips. The idea is that most of the time, you won’t need to cancel, and you’ll save perhaps $1,000/person/trip (Tauck is a bit less expensive).
Additionally, you can get partial trip coverage with certain credit cards, such as the Chase Preferred, or Chase Reserve. These cards (and perhaps others) offer up to $10,000/person coverage, if you charged your tour on their card. This is NOT “cancel for any reason”. They have a reasonable list of covered perils and your reason for cancelling must be one of those covered events.
I self-insure and use the Chase coverage to cover part of the trip. If the worse happens, I’ll lose the difference between what the trip costs per person and the $10,000 coverage/person. If I never have to cancel, I’ve saved a lot of money, and if I do have to cancel, I’ve lost less than what I’ve saved.
Trip cancellation insurance is very profitable to the insurance company – not many people cancel. Note that the insurance company does not provide coverage if the tour company cancels the trip or goes out of business. They tell you to seek relief from the tour company.
If you decide you want travel insurance for a Tauck tour/cruise, Tauck offers both components bundled into one policy for a decent price. Significantly less than an outside insurance company.
Note that no matter who you get the insurance with, the cost of the insurance is not part of the reimbursement. The money you paid for the insurance (and the money all the other people paid who bought insurance) is what is used to reimburse you.
BKMD. I know that is your choice and respect it. What about countries that insist you enter with insurance? You must have encountered some of those, we certain have over the years.
The only requirement I've ever seen is that you have trip medical. They don't care whether you lose the cost of your trip, but they don't want to have to provide medical services to you for free. Or if you die, that your body can be shipped home.
They may also require that you have a return ticket to insure they can get rid of you.
[Replying to BKMD's note below: There was one country we went to where we had to show proof of medical coverage. Maybe it was during COVID, don't remember and don't remember the country. (could have been Peru)]
British - I've never been asked for proof of medical insurance upon entering a country. That said, I have my Medicare secondary (Plan G-HD) which covers 80% of up to $50K (lifetime). My premium credit card also provides some medical coverage, but I don't know details off the top of my head.
The Chase Reserve card covers up to $100,000 for emergency medical evacuation, only $2,500 for treatment. I expect that's similar to other travel cards.
You have to have charged the trip to the card to get that coverage.
I find Tauck’s insurance to be quite reasonable and gives me peace of mind even tho I could “self insure,” I don’t want that risk as I get older. Most Medigap policies do not cover emergency flights home and that can be quite expensive. “Don’t judge foreign medical costs by US standards…” I’d rather be home getting that medical care…
One more thought on trip cancellation insurance. Let's say that you have $10,000/person coverage on your credit card. You can buy travel insurance and only purchase the amount above $10,000/person. So, if the trip costs you $15,000/person, when you go to purchase travel insurance you can limit the coverage to $5,000/person. That will give you full coverage at a price less than if you bought insurance for the full $15,000/person.
At Travel Insured International, the way you buy just medical is to put zero into the trip cost field.
So many tours cost way more than $10,000 these days.
Has anyone been successful claiming using their credit card? When we pay our Tauck bill we often split it between cards to keep our points even. We have used more than two on some occasions such as both our American Airlines cards and an Amex card.
Also, if you have insurance and anything happens to a member of your extended family--parents/children/siblings-- that's covered too (including pre-existing conditions if you book your insurance within a certain time from from scheduling your trip.)
So many tours cost way more than $10,000 these days.
Has anyone been successful claiming using their credit card? When we pay our Tauck bill we often split it between cards to keep our points even. We have used more than two on some occasions such as both our American Airlines cards and an Amex card.
Some friends who had the Chase card had to cancel because of a cardiovascular event that the husband had. They had to get documentation from his doctor that it was not a pre-existing condition but once they got that, Chase paid.
And, yes, no one is claiming that you'll be fully reimbursed at $10,000 per person. But if you’ve saved $1,500/person for your past 10 tours (for a total of $15,000/person), you’ll be ahead. Mentally, you apply $5,000 of that $15,000 and you're still $10,000 ahead.
And if you want full coverage, you can purchase the amount above $10,000/person and save a lot of money on the insurance (just purchase $5,000/person insurance for that trip).
Note that you only get the credit card coverage if you have charged the full cost of your trip to the card. The card company gets a percentage of the amount you charge (maybe 1-2%) so that pays for your insurance. They require you charge the full amount so they get the maximum fee. If you only charged $1,000 on the card (for example) they didn't get enough out of the deal to fully insure you.
The Tauck coverage is particularly good for for New Yorkers (and those in Washington State as well I believe), since cancel for any reason insurance cannot be sold to NY residents. While the Tauck coverage functions as CFAR, it is actually part of a bundled hybrid product offering from Tauck - traditional travel insurance for standard travel and medical coverage, coupled with a cancel for any reason waiver, which is technically not insurance. Since the CFAR is not insurance, it is available in NY.
Very interesting about New York State. Here's what I found on a search:
+++++++++++++++++++++++++++++++++++++++++
New York state historically restricted "Cancel for Any Reason" (CFAR) travel insurance because state insurance laws require policies to be triggered by an unforeseen, accidental, or "fortuitous" event . Because CFAR allows the purchaser to control the cancellation event, state regulators historically did not classify it as a true insurance product.
However, following a regulatory update by the New York State Department of Financial Services (DFS), CFAR benefits can legally be sold in the state, but with strict conditions:
• Separate Contracts: CFAR cannot be bundled into a standard policy . It must be sold as a standalone contract, which makes it cost-prohibitive or administratively difficult for some smaller underwriters to offer.
• Strict Timelines: To qualify, travelers must typically buy the coverage within 14 to 21 days of their initial trip deposit.
• Partial Reimbursement: It generally only reimburses 50% to 75% of nonrefundable, prepaid trip costs.
Comments
If you want Cancel for any reason, then Tauck is cheaper. If you risk insurance without that, then independent insurance. We travelled on a non Tauck tour last year, we had taken out the Cancel for any reason, but the maximum back was 70% of the tour price which apparently is standard with most insurances, which is why Tauck is a good deal,
IN my opinion the best travel insurance is none (self-insurance).
YMMV
BKMD. I know that is your choice and respect it. What about countries that insist you enter with insurance? You must have encountered some of those, we certain have over the years.
Travel insurance has two components, each of which can be purchased separately.
The first, and the one you certainly should have, is travel medical insurance. This pays if you have any medical issues during the trip and also covers repatriation if you have a serious issue, or to repatriate your remains if you die during the trip. This insurance is available from many places, I use “Travel Insured International,” but many other companies offer similar coverage. It’s fairly inexpensive and you can purchase an annual plan, which will cover you for any trips during the 12 months of coverage. I think the last time I purchased an annual plan it was less than $200/person. If you do it trip-by-trip it’s probably around $100/person/trip.
The second, and much more expensive, component is coverage for the cost of your trip. You can get coverage that has a list of covered perils, or “cancel for any reason”. The second is more expensive than the first, and usually has some limitations, perhaps that you can’t cancel two or three days before the tour/cruise, and you may not get 100% of your money back.
As BKMD points out, you can save a lot of money by self-insuring, especially if you do a number of trips. The idea is that most of the time, you won’t need to cancel, and you’ll save perhaps $1,000/person/trip (Tauck is a bit less expensive).
Additionally, you can get partial trip coverage with certain credit cards, such as the Chase Preferred, or Chase Reserve. These cards (and perhaps others) offer up to $10,000/person coverage, if you charged your tour on their card. This is NOT “cancel for any reason”. They have a reasonable list of covered perils and your reason for cancelling must be one of those covered events.
I self-insure and use the Chase coverage to cover part of the trip. If the worse happens, I’ll lose the difference between what the trip costs per person and the $10,000 coverage/person. If I never have to cancel, I’ve saved a lot of money, and if I do have to cancel, I’ve lost less than what I’ve saved.
Trip cancellation insurance is very profitable to the insurance company – not many people cancel. Note that the insurance company does not provide coverage if the tour company cancels the trip or goes out of business. They tell you to seek relief from the tour company.
If you decide you want travel insurance for a Tauck tour/cruise, Tauck offers both components bundled into one policy for a decent price. Significantly less than an outside insurance company.
Note that no matter who you get the insurance with, the cost of the insurance is not part of the reimbursement. The money you paid for the insurance (and the money all the other people paid who bought insurance) is what is used to reimburse you.
The only requirement I've ever seen is that you have trip medical. They don't care whether you lose the cost of your trip, but they don't want to have to provide medical services to you for free. Or if you die, that your body can be shipped home.
They may also require that you have a return ticket to insure they can get rid of you.
[Replying to BKMD's note below: There was one country we went to where we had to show proof of medical coverage. Maybe it was during COVID, don't remember and don't remember the country. (could have been Peru)]
British - I've never been asked for proof of medical insurance upon entering a country. That said, I have my Medicare secondary (Plan G-HD) which covers 80% of up to $50K (lifetime). My premium credit card also provides some medical coverage, but I don't know details off the top of my head.
50 K. Peanuts
The Chase Reserve card covers up to $100,000 for emergency medical evacuation, only $2,500 for treatment. I expect that's similar to other travel cards.
You have to have charged the trip to the card to get that coverage.
More details here - https://www.chase.com/personal/credit-cards/education/basics/emergency-evacuation-and-transportation-with-sapphire-reserve
"50 K. Peanuts"
DOn't judge foreigtn medical costs by US standards.
I find Tauck’s insurance to be quite reasonable and gives me peace of mind even tho I could “self insure,” I don’t want that risk as I get older. Most Medigap policies do not cover emergency flights home and that can be quite expensive. “Don’t judge foreign medical costs by US standards…” I’d rather be home getting that medical care…
Good point Jane
One more thought on trip cancellation insurance. Let's say that you have $10,000/person coverage on your credit card. You can buy travel insurance and only purchase the amount above $10,000/person. So, if the trip costs you $15,000/person, when you go to purchase travel insurance you can limit the coverage to $5,000/person. That will give you full coverage at a price less than if you bought insurance for the full $15,000/person.
At Travel Insured International, the way you buy just medical is to put zero into the trip cost field.
So many tours cost way more than $10,000 these days.
Has anyone been successful claiming using their credit card? When we pay our Tauck bill we often split it between cards to keep our points even. We have used more than two on some occasions such as both our American Airlines cards and an Amex card.
Also, if you have insurance and anything happens to a member of your extended family--parents/children/siblings-- that's covered too (including pre-existing conditions if you book your insurance within a certain time from from scheduling your trip.)
British - my daughter used her trip cancellation insurance on her CSR car within the last year. She said it was very easy.
Some friends who had the Chase card had to cancel because of a cardiovascular event that the husband had. They had to get documentation from his doctor that it was not a pre-existing condition but once they got that, Chase paid.
And, yes, no one is claiming that you'll be fully reimbursed at $10,000 per person. But if you’ve saved $1,500/person for your past 10 tours (for a total of $15,000/person), you’ll be ahead. Mentally, you apply $5,000 of that $15,000 and you're still $10,000 ahead.
And if you want full coverage, you can purchase the amount above $10,000/person and save a lot of money on the insurance (just purchase $5,000/person insurance for that trip).
Note that you only get the credit card coverage if you have charged the full cost of your trip to the card. The card company gets a percentage of the amount you charge (maybe 1-2%) so that pays for your insurance. They require you charge the full amount so they get the maximum fee. If you only charged $1,000 on the card (for example) they didn't get enough out of the deal to fully insure you.
The Tauck coverage is particularly good for for New Yorkers (and those in Washington State as well I believe), since cancel for any reason insurance cannot be sold to NY residents. While the Tauck coverage functions as CFAR, it is actually part of a bundled hybrid product offering from Tauck - traditional travel insurance for standard travel and medical coverage, coupled with a cancel for any reason waiver, which is technically not insurance. Since the CFAR is not insurance, it is available in NY.
Very interesting about New York State. Here's what I found on a search:
+++++++++++++++++++++++++++++++++++++++++
New York state historically restricted "Cancel for Any Reason" (CFAR) travel insurance because state insurance laws require policies to be triggered by an unforeseen, accidental, or "fortuitous" event . Because CFAR allows the purchaser to control the cancellation event, state regulators historically did not classify it as a true insurance product.
However, following a regulatory update by the New York State Department of Financial Services (DFS), CFAR benefits can legally be sold in the state, but with strict conditions:
• Separate Contracts: CFAR cannot be bundled into a standard policy . It must be sold as a standalone contract, which makes it cost-prohibitive or administratively difficult for some smaller underwriters to offer.
• Strict Timelines: To qualify, travelers must typically buy the coverage within 14 to 21 days of their initial trip deposit.
• Partial Reimbursement: It generally only reimburses 50% to 75% of nonrefundable, prepaid trip costs.