Good article on why you should have travel insurance -

[Greenskeeper]

We just started having to travel at peak times and are just getting over the sticker shock. To pay less than $250 to cover trip cancellation, interruption and possible medical expenses compared to the cost of the trip, is a good investment for us.

[2FarNorth]

I am still not convinced. I walked away from that story still wondering if those unfortunate folks would have been covered for the majority of the expenses. I think they were wondering the same as well.

Anyway, Rick G hit on it a bit. Its about shifting rist from the insured to the insurer and if you read the fine print and excetions in a lot of the standard travel policies, the insurers do not make it all that easy to shift the risk.

- Kevin

[Anthony]

I don't know Kevin - it is travel insurance - and it is set up to basically insure... travel. I think the CSA runs a pretty good program - I know people have commented on the forum here before about their experiences with CSA - and they do seem pretty positive. We use it now whenever we travel, especially since as Italian residents and with no US or private coverage, we would be totally exposed if something happenend on a trip to the US. The same is true for most US citizens - their private or public policies don't cover you abroad. This is the part that is worth it for me. Of course it also covers hurricanes - which applies to the VI unfortunately! I really don't do a lot of travel where I have spent or reserved a large amount on the accommodations - but I know if was to rent a villa for several thousand bucks, I wouldn't mind knowing that the cost of it was insured if there was a health or weather emergency that forced the trip to be cancelled or cut short... just my .02 cents! I would actually like to here Rick elaborate a little on his preference of no insurance -

[toes in the sand]

Travel insurance is a personal decision. Insurance is all about shifting risk from the insured to the insurer. One of the big things you are purchasing is predictability; some insurers call this peace of mind. You're essentially buying a hedge against unanticipated events. If it makes sense for you, then you should make purchase.

It rarely makes sense for me to purchase travel insurance.

Cheers, RickG

I have to agree. The only time I purchased travel insurance was our 2007 StJ trip with another couple. They were concerned about everything from weather to bankrupcies (they were Caribbean first timers). It made them more at ease so I went ahead with it. I am more like the afterthought of the author in the article. I always pack a flashlight (etc.). I must say that there was peace of mind that came with the insurance though.

[RickG]

After writing a long-winded actuarial and opportunity cost treatment addressing "Why Rick doesn't buy trip insurance" I came to my senses and erased it. How about the one time I did buy trip insurance for a USVI trip? Traveling with a 5 month old and grandparents and booking the trip before she was born.

Bottom line, I buy trip insurance if I expect the trip to be canceled or interrupted.

When would I buy trip insurance in the future for a USVI trip? If I was arranging travel for a large group during hurricane season or traveling with someone who had a "pre-existing" condition.

Looking at the CSA terms and conditions, it looks like there is useful coverage for "New Economy" type incidents, such as "involuntary termination."

It's a judgment call.

Cheers, RickG

[Anthony]

After writing a long-winded actuarial and opportunity cost treatment addressing "Why Rick doesn't buy trip insurance" I came to my senses and erased it.

LOL - I don't know how you find the time

Thanks Rick - your opinions are always appreciated!