Travel Insurance: When Should You Buy It?

When Should You Buy Travel Insurance?

When booking a trip, probably the two biggest questions you ask yourself are as follows: “how you are going to get there?” and “where you are going to stay?” However, buying travel insurance and when you should get it is another question worth asking. In most cases, the easy answer to when is “right away.” However, depending on the type of coverage you are looking for and your travel style, you can get travel insurance up until the last minute of your flight.

Buying Within 15 Days of Making Your First Travel Deposit

Getting travel insurance within the 15-day window of making your first travel deposit may seem arbitrary but there is a good reason why it is a smart move:

Bonus Coverage!

Some travel insurance companies urge you to get insurance right away before you completely forget it. To do that, they offer bonus coverage if you get travel insurance within this 15-day window to entice clients.

Depending on your plan, you may qualify for bonus coverage like these at no additional costs:

• Emergency medical insurance from secondary to primary
• Terrorism occurring in a planned city on your itinerary
• accidental death and dismemberment coverage
• Tour-supplier bankruptcy protection
• Coverage for any pre-existing medical conditions

What If You Missed Buying travel Insurance within The 15-Day Window?

Unlike other aspects of traveling such as hotel room rates and airfares, the price for travel insurance does not increase the closer it gets to your travel date. There is no financial penalty if you forget or wait it out to buy travel insurance, well, except for the bonus coverage.

So, what are the best times to get travel insurance other than the 15-day window of making your trip purchase?

1. 50 Days Before Departure

This may seem like an odd time to get travel insurance, but here’s why it also makes sense:

• Buying travel insurance 50 days before leaving takes out the “panic” factor there will be lots of thinking about the last or two weeks before departure. And buying 50 days out allows you to check off one big factor and even encourage you to check in with your insurance company for a few more things.
• It has been shown that 50 days before departure is the time when you begin actively thinking about your upcoming travel. At this time, you will start double-checking arrangements, making lists and ensuring that everything is in order, including of course your travel insurance.

2. Two Weeks Before Departure

If you are going on a trip, probably the last time that you can think rationally about your trip is 2 weeks before leaving. Now, what are the advantages of buying 2 weeks before leaving?

• Knowing you are covered, you don’t have to panic about your travel insurance, giving you peace of mind and allows you to focus on more pressing matters in your trip preparation.
• You get a clearer view of the weather and travel situation. However, know that, if a named storm is coming to your destination, then you might not be covered for interruption or cancellation if you purchase after the storm is named. But, you can still buy and qualify for other coverage such as stolen or lost baggage, medical evacuation, and medical expenses.
• You also get a better idea of your own personal situation. If you are out of luck, you might have had a pre-existing condition show up or be called to jury duty. Otherwise, you should be all set to get travel insurance at any time leading to the day before your departure.

Regardless of your decision, 2 weeks is your best time to get travel insurance if you have not yet. Because your next and last option would be…

3. The Day (Or a Minute) Before Departure

Time flies so fast and procrastination happens. If you did not have the chance to get travel insurance after your first deposit, 50 days or even 2 weeks before you leave, and only realize it a day before your flight or entering the plane, don’t worry, you can still buy one.

It is not an ideal time, but here are some reasons as to why it is still okay:

• Booking travels the last minute too. If you are one of the few people who like to take a last-minute bargain fare to exotic locale or need to book a flight for an emergency, then it is nice knowing that you can still cover such impulse trip.
• You wish to get the best idea on the weather and other traveling conditions. So, if you are a sky-watcher, then you might want to wait it out to the last minute to buy.
• It does not cost any more to get covered the minute before departure than a few weeks or months before your trip.
• You’re covered, period.