Memberships, insurance, etc.

[boulderjohn]

I agree with what appears to be the travel insurance consensus. A lot of what you have paid for can be taken care of in most cases without insurance. The odds are small. I have never taken the insurance, and the money I have saved over the years this way is much more than what I would have to pay out of pocket if my next rally big trip is canceled. Thus, over time my lack of travel insurance has more than paid for itself.

The DAN insurance is another matter. I not only have the preferred plan, I donate as well.

 

[Hotpuppy]

As a former actuary, I'd say your method of analysis is pretty good. However, the chance of a trip cancellation is a lot less than 10% and let's remember, it has to be cancelled for a covered reason, which lowers the odds of collecting considerably. Trip insurance is generally expensive and the potential loss manageable, so I skip it. If the loss of the price of a vacation is catastrophic you should probably reconsider whether you can afford the vacation.

I have a slightly different mechanism for evaluating travel insurance. I can usually afford the extra cost of the insurance premium more than I can afford the loss of the invested vacation.

For example, I'm going on a 7 day cruise. The cruise was $700 with ttl, the excursions (dives) are going to run $300. The trip insurance was $45. I'm unlikely to use it, but I sure won't miss the $45 if something happens. If I get sick, get hurt, or need to visit the onboard doc I'll be glad I have the trip insurance.

I think DAN is the same way. The cost of DAN dive insurance is minimal. You won't miss $70 in this hobby..but you will sure be sorry if something happens and you don't have it.

 

[nelia1978]

I would think that your life is worth the $$ you spend on the DAN insurence. I rather pay the amount per year and know that regardless that I am covered and so is my equipment. I am sure that if god forbid something were to happen, you wish you had paid the insurence. 150$ is much easier to pay than maybe 10 000$
Have a great trip