When should I buy travel insurance? (2024)

FAQs

How long before Travelling should you get travel insurance? ›

When Is the Best Time to Get Travel Insurance? 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.

While it's possible to buy travel insurance up until just before — or even after — you depart, the best time to do so is shortly after you begin booking the trip.

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).

In fact, if you've already booked your holiday then your travel insurance should ideally start on the day you buy your policy, not the day your holiday starts. Doing this means you're covered for any events that might prevent you from going away in the first place.

For most vacations, it's advisable to begin planning at least six months in advance. This timeframe allows you to research destinations, compare prices and make reservations without the pressure of last-minute booking.

Does travel insurance cover cancelled or missed flights? Your travel insurer may cover you if your flight was cancelled and the airline company doesn't or can't reschedule your flight. Your insurer may also cover you if the airline company doesn't reimburse you as a result, or only reimburses part of your expenses.

On average, travel insurance is around 5%-6% of the total trip cost, and the average trip cost for US travelers from April 2022- April 2024 was around $6,441.

The “Effective Date” is the Day After You Purchase the Policy.

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.

As long as you haven't yet departed, it's not too late—but your plan choice may be limited. When you get an online quote for travel insurance and enter today as your day of departure, you'll see just a few plans that are available for last-minute travel. Your single-trip plan option is OneTrip Emergency Medical.

How much does cancellation cover for travel insurance? ›

How much cancellation cover will I have on my policy? The amount you'll be able to claim varies between policies. Over half (61 %) of the annual travel insurance policies on Defaqto will cover cancellation costs of at least £3,000 or up to the full holiday amount. Just 1% of policies offer cover of £1,000 or less.

All travel insurance claims must be made within the specified timeframe detailed in your policy. Most companies state you must register a claim within 28 to 31 days of returning home, otherwise a claim cannot be considered.

You can buy travel insurance to improve your coverage at almost any time during your trip. Insurers who provide post-departure insurance sometimes offer medical-only coverage. Travel that is underway doesn't need cancellation coverage, and needs less trip coverage.

Travel insurance can be useful, but it's not always necessary. The key to knowing if you need travel insurance is figuring out your specific risks for any given vacation, then deciding if you can buy coverage that adequately protects you from any financial losses and pitfalls that might occur.