Wave Season Travel Insurance - 2020 Review
Wave Season Travel Insurance – get the best Cruise Insurance deal once you have chosen your next cruise. Cruise Lines charge between 8% and 12% of the cruise cost for their insurance policies.
The market price when comparing travel insurance for a typical cruise customer is only 6% of the cruise cost. It pays to shop around. Additionally, medical insurance coverage will tend to be much higher, as will medical evacuation limits, if you compare the market.
Wave Season for cruise lines generally runs from January 1 to March 31. The holidays are just behind us, winter has set, in and people want to travel and relax. During this 3-month period, cruise lines offer deals and discounts. Some cruise lines even offer ‘buy a cruise, get a cruise credit for another cruise’ deals. It is a great time to buy a cruise because all cruise lines lower their prices and want to offer the best deal possible. Often, the deals don’t get any better over the course of the year. So, this is the time for seasoned cruisers and for travelers who always wanted to try a cruise to shop around.
Once you have gotten your great deal from the cruise line it is time to start comparing travel insurance policies. All of the cruise lines will offer cruise insurance of some fashion. Be aware that each cruise line will offer only one choice in travel insurance plans. AardvarkCompare thinks it is best to have options to get the plan that is right for your travel needs.
Some things to look for in a good Wave Season Travel Insurance plan:
- At least $100k in Medical Insurance Coverage
- At least $250k in Emergency Medical Evacuation Protection
- A Pre-Existing Medical Condition Exclusion Waiver
- Good Value for Money
Like all comprehensive trip insurance plans, Wave Season Trip Insurance will include:
And, these additional “time sensitive” benefits may be included:
A “time sensitive” benefit is one that will only be available only for a period of time specified in the travel insurance policy. For example, a pre-existing medical condition is excluded from coverage unless you purchase a policy within 10-21 days of the initial trip payment or deposit. If you purchase trip insurance within this time-frame the benefit is included, if you purchase outside of the time period it will not be included.
Let’s look at each of these benefits now.
Wave Season Trip Cancellation - Basic
Trip cancellation benefits protect the prepaid and non-refundable trip costs of your trip if you need to cancel your travel plans due to one of the covered reasons listed in the trip insurance policy. The reasons listed can include but are not limited to the following:
- Illness, injury or death to the traveler, a traveling companion, or a family member
- Traffic accident en-route to the departing airport
- Having to serve on a jury
- Natural disaster rendering you home or destination uninhabitable
- Bankruptcy of your travel supplier
- Hospitalization or death of your host at your destination
If you must cancel a trip due to a reason listed in the policy, you will be reimbursed 100% of the pre-paid and non-refundable trip costs insured.
Wave Season Trip Interruption
Trip interruption benefits protect the unused portion of the trip if you need to interrupt your travel and get home due to one of the covered reasons listed in the policy. This coverage will reimburse the unused portion of the trip and some will help with the additional expense of getting home quickly. Some policies will have a limit of 100% of the trip costs insured and some plans will have a limit of up to 150% of the trip costs insured.
Why would trip interruption pay more than trip cancellation? Trip interruption reimburses for the unused portion of the trip and will also pay additional expenses incurred getting home. Not all policies will offer 150%, especially the wave season travel insurance plans. At AardvarkCompare, we recommend shopping for a trip insurance plan with all of the benefits and limits that work for you.
Wave Season Medical Insurance
Travel Medical Insurance covers the traveler if an illness or injury occurs during the covered trip and results in a hospital or clinic visit. As we mentioned earlier, here at AardvarkCompare, we recommend having at least $100k in medical insurance coverage if traveling outside the US. Many of the cruise insurance plans offered by the cruise lines have much less than $100k. Some cruise companies offer as little as $10k in medical insurance on their plans – this simply is not enough in the event of a serious illness of accident. Robust travel medical insurance is not hard to come by – just compare travel insurance coverage levels so as to determine the travel insurance to buy.
Wave Season Emergency Medical Evacuation
Medical evacuation comes in many forms, from a seat on a commercial airline to being flown in a medical transport plane accompanied by a physician and nurse. Another recommendation from AardvarkCompare is to have at least $250k in emergency medical evacuation. The Cruise lines travel insurance typically carry much less coverage here.
Wave Season Pre-existing Medical Conditions Waiver
There are some additional benefits that may be included in a cruise insurance plan. All travel insurance plans specifically exclude coverage for pre-existing medical conditions unless there is a pre-existing condition exclusion waiver in the policy. Generally, a pre-existing condition is any condition that required medical treatment, medical testing, or new or changed medication in the 60-180 days prior to purchasing the insurance. Most plans will only ‘look back’ 60 days, but there are some insurance companies that use 90 or even 180 days. If you purchase a trip insurance plan within 10-21 days of the initial trip payment there may be a waiver of pre-existing conditions. The waiver “waives” the 60-180 day look back period if you meet certain requirements:
- Must be medically fit to travel on the date of insurance purchase
- Must purchase the insurance within 10-21 days of initial trip payment or deposit
- Insure 100% of all pre-paid and nonrefundable trip costs
With some wave season travel insurance, the cruise line will offer coverage for pre-existing medical conditions, but they will only reimburse 75% of trip costs and it will not be in cash, you will be reimbursed in cruise credits. And the cruise credits typically expire within 12 months. If a traveler is unable to travel within the 12 month period, they will lose their trip cost reimbursement altogether if they have relied on the cruise line travel insurance. Thankfully, every policy that is available through AardvarkCompare pays out in cash, and never in cruise credits.
Cancel For Any Reason
Cancel For Any Reason is, well, literally cancel for ANY reason. This benefit allows you to cancel your trip for all of the reasons not listed in the trip insurance document. What if you had an elderly pet that suddenly became ill a week before the trip, you might want to cancel your plans to stay home with your beloved furry family member.
When we reviewed the cruise lines’ travel insurance, we have seen that many of the cruise lines list of covered reasons to cancel are quite small. Several of the cruise lines offer policies that include a Cancel For Any Reason benefit. However, the cruise lines’ benefit will only reimburse 75% of the pre-paid and nonrefundable trip costs in the form of cruise credit. Again, cruise credit must generally be used within 12 months of the original departure date or is lost.
Any travel insurance policy with Cancel For Any Reason offered on AardvarkCompare reimburses in cash. Do you need to buy Cancel for Any Reason coverage? For most people, it is not necessary, so do not pay the extra for this coverage. But we know that it is useful for those who want the ultimate flexibility in trip cancellation – to be able to throw the trip away for no reason at all, and still get the vast majority of their money back.
Wave Season Trip Cancellation – Work Reasons
Most trip insurance policies will show some “work” reasons in the list of covered reasons. For example, the basic work reasons are:
- Your or Your Traveling Companion’s place of employment is rendered unsuitable for business due to fire, flood, burglary or other Natural Disaster and You and/or Your Traveling Companion are required to work as a result
- Involuntary employer termination or layoff of You or a Traveling Companion. Employment must have been with the same employer for at least one (1) continuous year
- You, Your Traveling Companion or Family Member traveling with You is directly involved in the merger of Your employer or the acquisition of Your employer by another company
- Your or Your Traveling Companion’s transfer of employment of 100 miles or more by the employer with whom You or Your Traveling Companion are employed on Your Effective Date that requires Your or Your Traveling Companion’s principal residence to be relocated
And some plans will have this additional coverage listed:
- You, Your Traveling Companion or a Family Member traveling with You is required to work during the Trip. A written statement by an unrelated company official and/or the human resources department demonstrating revocation of previously approved time off will be required. (on plans that offer this added cancel for work reason benefit, it is typically available only within 20 days of initial trip payment)
In many of the cruise insurance plans we reviewed from the cruise lines there were no “work” reasons shown in the list of covered reasons. If you are still working, this could be an important benefit to have in the travel insurance plan. This is another reason to really compare travel insurance policies prior to purchasing. You should have a plan that works best for your travel needs.
What Does Wave Season Travel Insurance Cost?
In our reviews of many Cruise Lines travel insurance options, we found that the cruise lines have higher costs and less benefits. In some cases, much higher cost and much less benefits. We have found that the prices for cruise line travel insurance can cost from 8% to 11.54% of the trip cost. So, for a cruise cost of $11,000 for 2 travelers aged 50 and 55 going on a 12-day cruise the trip insurance will cost between $880 and $1,265. We ran a quote on AardvarkCompare with the same travel criteria and found many plans with lower cost and higher benefit limits, and much better value for the traveler.
We found the Travel Insured Worldwide Trip protector and the iTravelInsured Travel SE
There is a huge difference in price and benefits when comparing the wider travel insurance market against that policies that cruise lines promote. The lower the price and higher the limits, the better value for the traveler.
Our aim is simple. We find the best possible plan for our travelers individual needs with the most appropriate coverage. Wave Season Travel Insurance should not be a “one size fits all” insurance. You should know what is available when buying protection for your cruise.
Will Wave Season Travel Insurance cost less if I go to the insurance provider directly?
Travel insurance will cost the same whether you go to the provider directly or purchase through a Travel Insurance Marketplace like AardvarkCompare. Travel insurance is heavily regulated and the rates each company uses is filed with each state’s insurance commissioner. The rates must remain the same until the insurer files for new rates. AardvarkCompare guarantees that you will not find lower rates for plans found on our site than you will on any other site, even on the providers site.
Travel Insurance Questions?
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