When Is The Best Time To Buy Travel Insurance? (2024)

FAQs

When Is The Best Time To Buy Travel Insurance? ›

Travel insurance covers many events that happen during your trip, but it can also offer protection for unexpected events before you leave, sometimes days, weeks, even months prior to departure. That's why we say it's best to purchase protection as soon as possible after your initial trip payment is received.

If you're wondering when you should buy travel insurance, the simple answer is as soon as possible. Ideally, you'll buy coverage no later than 15 days prior to your trip.

The golden rule is to buy your insurance as soon as you book your trip. This move will make you a savvy traveller because it means you're immediately protected against any pre-departure mishaps, like cancellations or health issues that prevent you from travelling.

Unlike other aspects of your travel experience like airfares or hotel-room rates, the price of travel insurance doesn't increase the closer you get to your travel date. There's no financial penalty if you wait to buy travel insurance (except for those bonus coverages, of course).

The good news is that you can buy travel insurance at any point–even if you already started your trip. However, you might not get all the coverage you were hoping for. Your coverage options become more and more limited the longer you wait. The price typically stays the same no matter when you buy travel protection.

That's why it's best to buy travel cover on the day you book your holiday. When planning a holiday, one of the key considerations should be how to protect your trip from unforeseen events. Travel insurance covers you against any costs or losses involved when things go wrong while you're on holiday.

While there are no AARP travel insurance products or discounts available for seniors, members can use the AARP website for trips and tricks on how to plan for international travel and information regarding how to choose the right insurance plan for older travelers.

You can purchase travel insurance any time before the date of your departure. However, your plan choice may be limited if you wait until the last minute.

Most travel insurance policies won't pay out if you're negligent while under the influence of alcohol or drugs, and have an accident or have property stolen.

Every plan is different, but the coverage amounts and benefits may vary. Determine how much you really need. For example, SquareMouth recommends international travelers get around $50,000 in Emergency Medical coverage and $100,000 for cruises or travel to remote areas.

Who is the best and cheapest travel insurance? ›

Allianz is a popular choice among business travelers due to its AllTrips Executive travel insurance policy with coverage for lost, stolen or damaged business equipment and rental car insurance. Earning 4.1 out of 5 stars, our expert reviewers think Allianz is a great choice for international travel insurance.

Watch for exclusions

All policies should include a list of sports and activities that you will automatically be covered for and those you will have to pay more for if you want them to be included. Be sure to check through these carefully as sometimes surprisingly ordinary activities such as 'trekking' may be excluded.

Without this coverage, you are responsible for any medical expenses. The average cost of travel insurance is between 5% and 10% of the total price of your trip. This can be worth it for the medical benefits alone when traveling in Europe.

Your cover usually starts the day you buy your policy or leave for your trip. This might be the same day. With same-day travel insurance, there could be a delay of 24 hours before your policy begins, and you'd be able to claim if you needed to.

With all the excitement of packing your bags, jumping on a plane, and jetting off to a faraway destination, travel insurance may be the last thing on your mind. You may be asking yourself “Can I buy travel insurance after departure?” The answer is yes!

It's the best time to buy cruise insurance – as soon as you make your initial trip deposit, while it's still fresh in your mind.