Roam Right Travel Insurance

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Jun 2, 2020
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I just need some advice and want to shed some light on one greedy company. I purchased Insurance through roamright in December for me and my wife's wedding to Mexico. Then came COVID-19 and the borders were shut down and our flights cancelled. Fortunately there were many great companies like airbnb and southwest airlines who understood the situation and refunded us. The only loss to us was a $1000 dollar deposit from the wedding company. When I tried getting this back through roam right they just kept telling me the whole "we dont cover anything under COVID". I understand this is how they save money but is it ethically right? Don't we buy insurance for unforeseen circumstances? After them denying our claim I asked for a refund and again they just sent a generic COVID email again about not covering us. After this Pandemic is over I hope people see the true colors of companies like these that let us down. I'm a full time student in the medical field that could really use any of our money back. Any advice from anybody will be greatly appreciated.
 

smd

Mar 14, 2018
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965
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I understand this is how they save money but is it ethically right? Don't we buy insurance for unforeseen circumstances?
Nope and this is a common misconception. Most insurance policies are "named peril" policies that specifically list the circumstances they cover. The premium reflects the insurance companies estimate of how likely each circumstance is to occur and how much the policy will pay if it does. The business would make no sense if they paid out for uncovered circumstances so they almost never do so (and there is nothing unethical about this).

There is another kind of policy called "all risk" that pays out for all perils unless they are specifically excluded. These naturally cost more and I'm not sure if there are any travel policies of this type.
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
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New York
www.promalvacations.com
Nope and this is a common misconception. Most insurance policies are "named peril" policies that specifically list the circumstances they cover. The premium reflects the insurance companies estimate of how likely each circumstance is to occur and how much the policy will pay if it does. The business would make no sense if they paid out for uncovered circumstances so they almost never do so (and there is nothing unethical about this).

There is another kind of policy called "all risk" that pays out for all perils unless they are specifically excluded. These naturally cost more and I'm not sure if there are any travel policies of this type.
They are more commonly known as Cancel for Any Reason policies, are expensive and don’t reimburse you 100%.

To the OP- you were insured from the day you bought the policy. If you fell and broke your leg and had to cancel- the insurance would have covered you. Pandemics are usually not covered unless you buy a CFAR policy.

Think of it this way- do you ask you homeowners insurance for refund if you don’t have a claim? Do you ask your car insurance for a refund if you don’t have a car accident? This is how all insurance works.

Have you asked them if they will allow you to transfer the policy to your next trip? Many are doing that.

Please read this story- see #2