Here is my penny's worth....
I THINK another one of the other big reasons for Trip Insurance was the fact that a provider (cruise line) could go bankrupt and you lose all your money IF you didn't have travel insurance (this seemed to be a huge problem about 4 years ago when many smaller lines just closed their doors) AND the post 9/11 situation most "regular" insurance polices will not cover acts of war and/or terrorism and many of the travel insurance policies do (you DO have to research carefully) this is my first cruise not leaving from my homeport (Tampa) someone could have just pushed me out of a car if need be
I think the basic message here is, IF you aren't sure what coverage you have and you don't want to spend countless hours researching it, the easy way is to buy the additonal travel insurance coverage.
I know at one point most of the major credit card companies were offering trip coverage FREE of charge BUT....most went to fee based services about ten years ago. I remember the days when VISA or Mastercard would extend (double) the warranty on any item you purchased with them as well. But I haven't seen that one in a long time. I think the point is well taken that what is offered in one country might not be offered in another country.
Just like rental cars, most of your regular car insurance WILL cover your rental car but with the high cost of auto insurance who wants to risk filing a claim on their regular policy and the possibility of facing higher premiums or cancellation??? Just like anything in life it is a gamble, if you feel you can afford the loss, I say more power to you!
Want a real education in insurance....get hit with a hurricane and see what your homeowners does NOT cover! I think many of us in Florida got some major rude awakenings last year and now are faced with 30% higher homeowner's insurance rates and which covers LESS. We have a seperate hurricane deductible which USED to be only $1000 now it is 2% figure that up on a $150K house!! OK, OFF my soapbox.
Great posts in this thread!
Like the commerical says "don't leave home without it!" (peace of mind that is!)