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Do I need travel insurance for my cruise?

by Fran Golden | August 06, 2016

When you book a cruise, you plop down significant bucks. Travel insurance can help protect your investment, but the wide range of policies (and prices) can feel overwhelming and leave you wondering whether it's really worth the extra money. Answering these questions will help you determine whether you need travel insurance or not.

How much will it cost? Travel insurance policies vary from about 4 to 10 percent of the cost of your trip (cruise line policies tend to be on the higher end). So a $2,500 cruise will cost around $250 to insure, at most. Although that may seem like a lot if you end up not using the policy, remember if you do need to cancel after you've paid your full fare, the cruise line may hit you with a large penalty — or you may not get any money back at all.

Who are you buying it from? If you are purchasing your policy through the cruise line, chances are you will be working with Aon Affinity (The Berkely Group), which administers most policies sold by cruise lines. You are not required to buy your policy through the line, though. You're free to shop around, and you will likely find a better deal from a third-party company. Websites where you can easily compare rates from dozens of companies include SquareMouth and InsureMyTrip

Fran Golden

Fran Golden is a Cleveland-based contributor to ShermansCruise who also writes for USA Today.

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