It’s WAVE season, and cruise bookings are top of mind. Travel insurance is a high-margin commission opportunity, so as you’re booking your next cruise and offering travel insurance, be sure to recommend policies that are right for your clients. Here are a few tips to keep in mind.
1. Know the differences between the cruise line’s insurance and that provided by other companies.
Does the client need Cancel For Any Reason (CFAR) coverage? If the client cancels for an unlisted reason under the cruise coverage, will the cruise line offer a cash payment or only offer a credit for a future cruise?
2. Understand the coverage limits offered by the cruise line, especially for Medical and Emergency Medical Transportation.
How do those limits compare to the limits offered by a stand-alone travel insurance plan? Are the cruise line limits sufficient in the of an emergency? Some are as low as $30,000 for Emergency Medical Transportation, which is not really sufficient coverage.
3. Know when the cruise line cancellation penalties kick in.
4. Ask your client about pre-existing medical conditions.
Do they need a plan that waives the Pre-Existing Condition exclusion? There are time-bound purchase requirements in place that can affect eligibility for coverage.
5. Think about whether shore activities (jet skiing, hiking along waterfalls or zip lining to name a few) create a higher likelihood of risk.
If you know that your clients are doing hazardous activities during their cruise, advise them to read the policy carefully or call the insurance company to ask specific questions. What is covered or excluded varies from company to company.
Bob Chambers is responsible for the operational functions at CSA Travel Protection, including customer service, claims, training and facilities.