Originally Posted by
RichardInSF
I have never purchased travel insurance and I have had an unexpected health emergency that was not a pre-existing condition. That trip was mostly charged on my Amex plat and I didn't remember that coverage so approached all the suppliers directly. Most made an exception although some required a doctor's letter and the non-refundable portions totaled about $600 or so, mainly because one lodging supplier refused any refund (Landmark Trust, a British charity).
That was way cheaper than had I been buying travel insurance all along. I hear that the commission on many of those policies can routinely go as high as 35%, which tells me all I need to know.
I have however noticed that luxury and high-end city hotels have been hiking up their cancellation times to as much as 72 hours in the last year, which is frustrating.
So I'm a strong NO on this insurance, but then I am willing to make the effort required to ask these companies to waive their restrictions if something bad happens and have so far mostly succeeded with that.
Originally Posted by
Kagehitokiri
any insurance refund nights if one arrives late ?
my risk tolerance includes risk of expensive insurance not paying out, especially when its a standardized offering with lengthy fine print and exclusions.
I totally agree. The possibility of insurance not paying out and the simple hassle of filing a claim factors into my risk tolerance.
I used to buy insurance similar to Travelex sold through Japanese travel agencies. Then I realized that I had cumulatively paid far more for those policies than a covered travel disruption or medical expense likely would have cost. Therefore, I am now less likely to purchase that type of insurance unless I were going to a remote area where a medivac would be costly if anything serious happened.
I would insure a non refundable, substantial five figure resort reservation. But, as it is I tend to book closer in - sometimes basically last minute - and therefore my risk exposure is not particularly high. Most of my travel is within my risk tolerance, also considering the coverage I have through Amex and other credit cards.