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Using miles for trip---how do I figure insurable costs?

Seattle
Destination Expert
for Grand Canyon National Park
Level Contributor
7,882 posts
61 reviews
Using miles for trip---how do I figure insurable costs?

We have been buying travel insurance for our overseas trips the last few years. Fortunately we have not needed to submit a claim but a concern has arisen regarding figuring the amount I am insuring. Since we fly on award tickets I include the actual cash I paid for them, which is considerable since they are on BA but not as much as paid tickets (we fly in business class). But maybe I should not include the cost of the tickets since they can be cancelled without penalty.

My second concern is over timing. The insurance I am looking at (US carriers) requires that insurance be purchased within a certain interval (generally 21 days) after the "first non-refundable payment" for the trip. (At least for pre-existing medical conditions to be covered). Since the award tickets can be cancelled (with full refund) right up to the date of the trip, they shouldn't count as the "first non-refundable payment" for the trip. But maybe I am wrong in thinking this?

Vancouver...
Level Contributor
7,750 posts
24 reviews
1. Re: Using miles for trip---how do I figure insurable costs?

Instead of "thinking" things about travel insurance, you should probably contact the customer service and outline your concerns to the representative to get a solid answer based upon the policy you have bought/are going to buy. All you'll get here is more speculation. Chuck.

Seattle
Destination Expert
for Grand Canyon National Park
Level Contributor
7,882 posts
61 reviews
2. Re: Using miles for trip---how do I figure insurable costs?

The problem is, anything I am told over the phone is not binding on them (the insurance company).. I am just curious if anyone else had considered these issues and if so, what was the result. I have read of people being denied compensation from their insurer because their stated expenses for the trip did not match their claim. I am interested in hearing if anyone has dealt with this in the context of award flights.

3. Re: Using miles for trip---how do I figure insurable costs?

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Removed on: 1:15 am, April 26, 2015