When you’re planning a vacation, you’re probably thinking about booking a flight, a hotel, and maybe renting a car. While you’re in the process of all that planning, it’s a good time to consider another important piece of the vacation planning puzzle: protecting your trip with travel insurance. Purchasing travel insurance is a smart and affordable investment that can provide financial protection against covered trips or flight cancellations, unexpected medical expenses while traveling, and costs incurred due to baggage delays, loss, or theft.
When should I buy travel insurance? here are some frequently asked questions along with answers to help you decide:
Reading: When to book travel insurance
When is the best time to take out travel insurance?
If you’re wondering when you should purchase travel insurance, the simple answer is “as soon as possible.” Ideally, you will purchase coverage no later than 15 days before your trip. But determining what type of coverage you need, how much you need, and what supplemental coverage will help protect your trip requires careful consideration of what you’ll be doing on your trip and what risk factors you may encounter along the way.
If you don’t purchase insurance before that 15-day marker or you had to book your trip on short notice, you’ll still be able to purchase coverage. just understand that coverage will usually cost a bit more.
Should I buy travel insurance before or after booking?
Although you can purchase travel insurance before you book your flight, it’s actually best to wait until after you reserve your seat on the plane. This way, you’ll know the price of your ticket and you can make sure your travel insurance covers the full cost of the ticket, in case you need to file a claim later.
In general, the more information you have about your trip and your estimated expenses, the easier it will be to shop for the coverage that best suits your needs.
When is it too late to buy travel insurance?
In general, you can purchase coverage at any time prior to your travel date. That said, it’s always best to purchase coverage as soon as you make your reservations. The sooner you buy travel insurance, the sooner you’ll be protected and the more benefits you can receive.
frequently asked questions (faqs) about travel insurance
Before you buy coverage, it’s helpful to understand the basics of how travel insurance works, why you need it, and what to look for in a policy. Here are some frequently asked questions to help you make a better and more informed decision:
is travel insurance a waste of money?
The short answer is no. many people pay for vacations by setting aside money to save. Think about how you would feel if you were forced to cancel your trip due to an emergency or if your belongings were stolen while you were on vacation. you would have to pay to reschedule your trip or replace your items out of pocket.
Travel insurance policies can give you peace of mind and protection if something unexpected happens on your trip. For example, if your trip is interrupted for a covered reason or you are injured while away, the policy is designed to help cover those costs. things happen, but with travel insurance, you can relax and enjoy your vacation knowing that you are protected.
As you review your travel insurance coverage options, make sure you understand any exclusions that are relevant to your trip. You’ll want to know what risks or situations won’t be covered.
Does travel insurance cover pandemics?
As “global pandemic” became a term the world learned and experienced in 2020, it ushered in new challenges for those who travel. What that means for you as a potential traveler is that you’ll want to consider whether Covid-19 or any other potential pandemic presents a risk to your trip. Some travel insurance policies provide protection against pandemic-related cancellations. When shopping for travel insurance, take the time to read the policy’s exclusions and make sure it provides protection against coronavirus and a general pandemic if you want to be covered for those events.
How far in advance can I purchase travel insurance?
Buying travel insurance before your trip is a smart move, but how long before your trip can you buy it?
Generally, you can only purchase coverage up to 12 months in advance. this gives you protection in case you need to cancel your trip for any covered reason during that year. buying coverage before then probably isn’t necessary.
When you buy coverage in advance, you won’t have to worry about cancellation fees if you ultimately cancel your trip. your policy will likely cover up to 100% of the cost of your trip, as long as you cancel for a covered event.
more information about travel insurance
Keep in mind that travel insurance policies will vary based on your unique needs and the type of trip you plan to take. When travel uncertainties abound, the cost of travel insurance is a small fraction of the potential costs of a trip cancellation or mishap. Learn more about travel insurance before you book your trip so you can choose the right policy for you.