Travel Insurance: When To Buy Before Your Trip

Travel insurance is an important purchase to make when planning a trip, and the general consensus is that it is best to buy it as soon as possible after booking your trip and finalising your holiday. This is because, in the time between booking your trip and your departure date, unexpected circumstances may arise that could result in you needing to cancel your trip. Purchasing travel insurance early reduces the chances of losing money in this scenario.

You can buy travel insurance up to a year in advance

While it is not recommended to buy travel insurance before booking your travel, you can buy it up to a year in advance. The best time to purchase travel insurance is as soon as your reservations have been made. This is because you will have the greatest number of options to choose from, including Cancel For Any Reason (CFAR) insurance.

The CFAR add-on allows you to cancel your trip and get a refund for a portion of your non-refundable costs, regardless of your reason for cancelling. However, CFAR insurance usually needs to be purchased within two to three weeks of your initial trip deposit. Travel insurers recommend buying travel insurance as soon as possible after making your travel plans to maximise your coverage window.

You can buy travel insurance at any time before your trip, but your options will be limited if you wait too long. For example, trip cancellation and interruption benefits may no longer be available. It is also important to note that travel insurance cannot be purchased after your trip has already been affected by an event that would be covered by the insurance.

It's best to buy travel insurance within 15 days of booking

The more information you have about your trip and your non-refundable expenses, the easier it will be to buy coverage that suits your needs. You'll want to purchase travel insurance sooner rather than later, especially if you're interested in add-ons like Cancel For Any Reason (CFAR) insurance and pre-existing medical condition insurance. CFAR insurance allows you to cancel your trip and get a refund for a portion of your non-refundable costs, regardless of the reason for cancellation. However, CFAR insurance usually needs to be purchased within two to three weeks of your initial trip deposit.

Pre-existing medical condition insurance is also time-sensitive and requires you to insure 100% of your trip. You'll need to be medically fit to travel at the time of purchasing this insurance, and the time period for buying it varies by provider, typically 10 to 21 days after making your first deposit.

The best time to buy travel insurance is as soon as your reservations have been made, as this gives you the largest coverage window. You can buy travel insurance at the last minute, but your options will be limited, and benefits like trip cancellation and interruption may not be available.

You can buy travel insurance at the last minute

While it's recommended that you buy travel insurance as soon as possible, it is possible to buy it at the last minute. Travel insurance can be purchased at any point before your trip, and some providers even allow you to buy medical coverage after you've departed. However, it's important to keep in mind that travel insurance won't cover any events or issues that began before you purchased the policy.

Last-Minute Benefits

A last-minute travel insurance policy can still offer important post-departure benefits, such as:

• Trip interruption and trip delay coverage
• Coverage for travel medical expenses
• Emergency medical evacuation coverage
• 24/7 access to the insurer's travel assistance line
• Coverage for baggage loss or delay

Disadvantages of Last-Minute Purchase

There are a few potential drawbacks to buying travel insurance at the last minute:

• Issues that arise before the purchase won't be covered. For example, if a natural disaster or illness is already affecting your destination, your policy won't reimburse you for any cancellations or interruptions.
• You may not be eligible for a pre-existing medical condition exclusion waiver, as these usually need to be purchased within 14 days of your first trip deposit.
• You may not have enough time to thoroughly compare different travel insurance providers.

Factors to Consider

When choosing a last-minute travel insurance policy, consider the following:

• Coverage limits: Ensure that the coverage limits match the potential costs of your trip and your destination.
• Exclusions and pre-existing conditions: Check the policy for any exclusions, as pre-existing conditions are often not covered.
• Deductibles: Cheaper travel insurance policies may have higher deductibles, meaning you'll have to pay more out of pocket before the coverage takes effect.
• Alternative sources of insurance: You may already have some trip insurance through other sources, such as credit card benefits. Consider this when deciding on the level of coverage you need.

Most travel insurance companies will sell trip protection policies until you depart. However, remember that travel insurance is designed to protect against unforeseen events. So, if you're already feeling unwell or a hurricane is about to hit your destination, don't expect to be covered if you buy insurance at that point.

You can buy travel insurance after booking your flight

Yes, you can buy travel insurance after booking your flight. In fact, it's recommended that you do so, as this will give you a more accurate idea of the total cost of your trip, and therefore the level of cover you require.

It's best to buy travel insurance as soon as possible after booking your trip. This is because you will have a longer coverage window for trip cancellation benefits, and you will have more plan options available to you.

You can buy travel insurance at any time before your trip, but if you wait until the last minute, your choice of plans may be more limited. For example, if you buy travel insurance the day before you travel, you may only be able to purchase a plan that offers post-departure benefits, such as baggage loss/damage, and emergency medical cover.

If you want to include trip cancellation and interruption benefits, as well as cover for pre-existing medical conditions, it's best to buy your travel insurance as soon as possible after booking.

Some types of cover, such as Cancel For Any Reason insurance, must be purchased at least 14-21 days before your trip.

You can buy travel insurance after booking your trip

Yes, you can buy travel insurance after booking your trip. In fact, it's recommended that you buy travel insurance after you've booked your trip, as you'll then know the price of your ticket and can make sure your insurance covers the full cost.

However, it's best to buy insurance as soon as possible after booking, as you'll then have access to the greatest number of options and the longest coverage window. For instance, certain types of insurance, such as pre-existing medical condition insurance, must be purchased within a certain time frame of your initial trip payment. If you wait too long, you may miss out on certain benefits.

In general, you can buy travel insurance any time before your trip, but the sooner you buy it, the sooner you'll be protected.

Frequently asked questions