Make sure to get comprehensive travel insurance
Considering going on a cruise soon after they resume? Experts say it’s important to buy the right insurance from the right company. Keep in mind that trips are resuming during hurricane season, so it’s not just coronavirus you’ll need to worry about.
“I’d never buy insurance from the cruise line,” says Klein. Cruise line insurance policies are comparable to third party insurance policy prices but usually offer less protection, according to CruiseCritic.
If you’re booking a cruise in August, you should buy cancel-for-any-reason insurance, says Megan Moncrief of travel insurance comparison site Squaremouth. “The issue with Covid-19 is there aren’t a lot of specific coverage written into policies yet on these types of viral outbreaks,” she says, so you want cancel-for-any-reason coverage to be sure you are covered for backing out of a trip over reasons related to the virus.
That peace of mind will cost you. The typical travel insurance policy usually costs between 4% and 8% of the price of the trip, according to Travel Insurance Review. Premium plans, including “cancel for any reason” coverage, can cost closer to 10% to 12% of the total trip.
Even top-notch travel insurance may not help you avoid a financial loss. Most cancel-for-any-reason policies require you to cancel your trip at least 48 hours before setting sail.
Before the pandemic led to cancellations, many cruise ships had been taking passenger temperatures at ports before boarding, Moncrief says. Those with fevers were not allowed on board. Assuming this policy continues as sailings resume, being denied entry at the last-minute may not be covered under your policy.
If you’re unsure about exactly what a plan covers, call the carrier, Moncrief says: “Speak to customer service, because it is an evolving situation.”
Read the full CNBC article online here: https://grow.acorns.com/what-to-know-before-booking-a-cruise/