WHEN IS THE BEST TIME TO BUY TRAVEL INSURANCE?

6 November 3 MINS READ
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It's about that time of the season when you start to make travel arrangements for the holidays. Talk about booking flights, hotels and even rental cars. While you're doing all that planning, now is a good time to think about another important part of your holiday prep. - travel insurance! Travel insurance is good and affordable investment that can offer financial security in the event of covered trip or aircraft cancellations, unanticipated medical bills while traveling, and fees associated with delayed, lost, or stolen baggage.

But when is the best time to buy travel insurance? Should you buy it right now? What happens if you wait? Will it be too late?

THE BEST TIMES TO BUY TRAVEL INSURANCE

1. The soonest after finalizing your travel plans is the best time to buy travel insurance.

Why? If you're buying travel insurance with trip cancellation/trip interruption benefits, you'll need to know your entire expenses to get a precise price. This way, your entire vacation investment can be protected. It's wise to purchase travel insurance as soon as you make your reservation for two reasons. You won't forget, for one! Travelers who put off purchasing travel insurance later find out they should have done so too late.

Secondly, your coverage window will be larger the earlier you purchase insurance. As long as your premium payment is received before you cancel your trip or submit a claim, trip cancellation benefits are valid as of the start date of your plan. The earlier you get insurance, the sooner you'll be protected (the effective date depends on when and how you buy a plan; if you buy travel insurance online, it's usually the day after your order is received.)

So don't delay if you've already finalized all of your vacation plans! Get a travel insurance quote now.

2. Within 14 days of making your initial travel payment is the second-best time to purchase travel insurance

Approximately two weeks prior to departure is probably the last time you will be able to think rationally about your trip. In order to take advantage of bonus coverages, it is essential to buy travel insurance within 14 days of placing your trip's initial deposit. Here are other things you stand to gain from buying your travel insurance 14 days before:

-You are protected, giving you peace of mind.

-You can concentrate on more important issues, like how to pack your carry-on with two weeks' worth of clothing.

-Your view of the weather and the state of the roads are clearer. If you book after a storm has been named and it is headed toward your location, you might not be covered for interruption or cancellation. However, you can still purchase and be eligible for the numerous additional coverages offered by a travel insurance policy, such as medical costs, medical evacuation, and lost or stolen baggage.

-You are more aware of your situation. If you've already been called to jury duty or have developed a pre-existing ailment, you might not be able to buy travel insurance, but in all other cases, you should be able to do so at any time up until the day you depart.

3. Any time before your trip is the third best moment to buy travel insurance

You completely forgot to insure your trip due to the stress and excitement of organizing it. The night before your trip, it's 11 o'clock, and you're wondering, "How late can I acquire travel insurance? Even now, is it worthwhile to do it?

Truth is.. it's better to buy insurance after you've already left for your vacation than to not have any at all. Get a quote now to learn more about your travel insurance options. While benefits such as luggage loss/damage, baggage delay, travel delay, and medical emergency may not be relevant to you right now, they can provide you with essential protection for your trip.

BOTTOM LINE

The worst time to buy travel insurance is after something bad has already happened. Travel insurance is intended to protect a traveler against specific unforeseen events; it does not cover situations that can be foreseen or that have already happened at the time the policy is purchased. That's why you need to be proactive about it.

In general, you can buy coverage whenever before the departure date. Nevertheless, it's better to get it as soon as you make your bookings because a lot may go wrong between the time you book your trip and the moment you board the plane for your holiday. Again, the earlier you purchase travel insurance, the sooner you'll be covered, and the more advantages you can be qualified for.

Get Travel Insurance for your next adventure. Your coverage begins as soon as you buy.