trip insurance, worth it or not?

[Scotttyd]

Question for you all. How many of you buy trip insurance, and through who if you do? We are in our low 30's and do not have any health conditions, so the likelyhood of us having to cancel to our health is slim, but there are always other issues that come up. I looked at Dan's and their price seems reasonable, although there are some that are less expensive. Although one issue I want to be sure is covered, is if my scuba gear/camera/luggage is lost/stolen, that it is covered, and I would think going through DAN, it would be easier to file my claim considering they deal with Dive issues all the time, vs a general trip insurance company.

 

[redacted]

I do not buy trip insurance. Dive trips are much a luxury and I could afford the loss if I need to. I do not feel the need for the comfortable feeling of having such insurance as some seem to feel. I do have a friend who used to buy trip insurance but his wife was going through cancer treatments which put them in a different risk group (but all the same with the insurer). I have never been disappointed in about 25 trips or 30 trips. With such insurance coming in around 8 to 10% of the trip cost, I'm well ahead of the game.

So, are you feeling lucky....

 

[Scotttyd]

Thanks awap, I have always taken that philosphy - If I can afford the trip, I can afford to loose the money, (although I would be pissed, but in the long term financially I am further ahead). My only concern is replacing lost/stolen gear and any medical costs- but DAN covers the medical side if something happens once on the trip. Doing quick math, between my wife and I, and camera gear/computers, I probably have close to 5K invested that would really screw things up if it went missing. Is there any trip insurance that one could buy just to cover gear?

 

[Hoomi]

We purchased trip insurance for our Fiji trip next week. For us, it's a matter of paying a little bit to guarantee that there will be a trip of some sort, even if something happens to cancel the trip this month. We afforded the trip by making payments on it each payday for the last year and a half, and while it wouldn't be a financial catastrophe to lose that, with the insurance, we could take the insurance payout and put it against another trip, if something goes wrong.

For some people, a bit over $6000 on a trip is barely a blip on their financial radar. Some people have no problem dropping $9000 on a Rolex dive watch, for that matter (I'd buy the $100 Timex, and put the remaining $8900 on another dive trip, personally). Our budget isn't that large, though, so the insurance is a little peace of mind that we're not going to completely lose out if the trip gets cancelled.

 

[sabbath999]

I do buy it generally, because I am in IT and if we have a major system crash the day before I am slated to leave, then I have to stay. Also, my wife is a cancer survivor, and you just never know what new joy in life the "C" word will bring you at any time.

 

[redacted]

There are clearly special situations where you know you are in a high risk group or the cost is extraordinary where the insurance may make sense. I would think that you can get insurance on your gear separately much like you can insure jewelry and other valuables.

 

[Cajuncru Diver]

I always purchase trip insurance for any major trip. The added cost to the overall trip is not usually conseqential....major issue is not so much trip cancellation, however a parent or sibling could always die and you have to miss the trip......but what is important to me is that my health insurance like most plans does not provide coverage outside the us.....Dan basic insurance does provide insurance but unless you buy the top of the line plan it only provides insurance for dive accidents......doesn't cover you if you are hurt in an accident or have a health problem not dive related.....for me it's a personal decision to have the peace of mind for the minimal cost.

 

[Scotttyd]

those of you that do buy insurance, who do you go with? Honestly I think I am just going to get coverage for gear, etc. If I was planning a 9k vacation, whole different issue, but my Bonaire trips run 1450 a person for lodging and travel.

 

[redacted]

You may want to search for DandyDon's posts on the subject. I believe he has good experience and has done quite a bit of research.

 

[Damselfish]

I rarely buy insurance, occasionally it seems like a good idea but it usually makes more sense to me to self-insure. The prices seem rather high and/or the policies have enough fine print I'm not sure how easy it would actually be to collect.

One thing to think about is, what will your real losses be? Even a non-refundable plane ticket can be rebooked for a fee so you're not out the whole amount, and if you changed due to a death in the family the airlines will generally waive the fee. Hotels and dive ops can also be worked with in many cases. Especially if they weren't booked full anyway, and therefore aren't really losing money if you reschedule, the smart ones would rather have your goodwill and chance of return business. Not quite as convenient as just getting your money back, but much cheaper than trip insurance.

You can insure your gear separately, but I'm just not that worried about it getting lost or stolen. Expensive camera gear is another matter, given the common sentiment "it's not if it floods, it's when."