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Meanwhile, one of the largest European operators, Viking River Cruises, has been having a bumpy ride financially. A planned funding deal this past spring to cover expenses has fallen through. But—unsurprisingly—Viking claims it is in sound financial condition, reports The Travel Insider.
Bottom line—be careful with whom you book a river cruise with. Given the struggling economy, river cruise lines—and the travel agencies that sell them—may sink in red ink. Book with a credit card. If you never receive the cruise you paid for, write a letter to the "billing inquiries" address on your credit card statement (and keep a photocopy for your records). You should get a refund to your card within 60 days, thanks to protection under the federal Fair Credit Billing Act.
If you buy travel insurance, buy it directly from an insurer like Travel Guard or Access America rather than from a cruise line or travel agency, which may go bankrupt and charge marked-up prices for policies.
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I have always found river trips great fun and great value. So this won't stop me from taking them. ANY prepaid trip should be put on a credit card, just in case. I also book my own insurance on amy land or cruise trip I take, as it is less expensive and there is a comprehensive website that lists all the choices. The one time I had to collect, there was no problem.
Posted By marily on July 9, 2009, 6:00 PM
Please be clear in your reporting - only the river division of Peter Deilmann is halting service in 2010 - the ocean division (MS Deutschland) continues on.
Posted By Elliot on July 10, 2009, 10:14 AM
Good point. We've corrected the post above to make it clear that only the river cruise operations are ceasing. Thanks, and I regret the confusion.
Posted By Blog Editor on July 10, 2009, 10:38 AM
Buying travel through bonded travel agents, in certain jurisdictions, is also a protected means of travel purchase PLUS you get their expertise and other benefits.
Posted By Jason Hughes on July 11, 2009, 6:13 AM
Now it makes sense why Viking is offering some of its 2010 cruises already at buy one get one free. I understand doing this closer to sail dates when cabins are open but a full year in advance made me wonder if they needed to raise capital and now I guess I know. I hope they make it as we do hope to book a Viking cruise next year. However, we will wait until we are a little closer to the sail date in order to make sure the company is still afloat and to make sure we still have the income to do it with!
Posted By Kelly on July 13, 2009, 12:57 PM
Travelers do not need to buy 3rd-party insurance directly from Travel Insured Intl. to obtain bankruptcy coverage. Travelers can buy a plan with their cruise booking from one of our registered travel agency partners throughout the industry and pay no higher premium than if buying coverage directly from us. As long as the agency is not owned by the cruise line being booked, Travel Insured bankruptcy coverage can apply in case of a failure by the line.
Posted By John Stone on July 13, 2009, 1:19 PM
In order to obtain coverage for the Financial Default of a Travel Supplier, you must purchase your travel insurance within two weeks of making your initial trip deposit! As mentioned above, if you buy insurance through the cruise or tour company and they go into financial default, you won't be covered. Also, a licensed, independent travel insurance agent will give you choices, go over the various plans with you, and give you the information you need to make an educated decision about which policy to buy.
Posted By Travel Insurance Lady on July 13, 2009, 8:15 PM