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.

In general, you can buy coverage any time before the date of your trip. That said, it's always best to buy 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 may be eligible to receive.

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.

The date when your coverage starts, either the date of your departure or the date on your confirmation documentation.

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).

It's smart to buy travel insurance immediately after booking for two reasons. One: You won't forget! Far too many travelers postpone buying travel insurance and then realize, too late, that they forgot to buy it at all. And two: The earlier you buy insurance, the bigger your coverage window.

No, travel insurance usually doesn't get more expensive closer to the trip. However, if you decide to buy insurance while already on the trip ('already traveling insurance'), you will have to pay extra.

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.

If all conditions are met, most of the policies will reimburse you 50% to 75% of your trip costs, unless otherwise noted.

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.

Is Allianz good travel insurance? ›

We at the MarketWatch Guides team awarded Allianz Travel Insurance 4.1 out of 5 stars based on our provider review methodology. Named our pick for concierge services, Allianz offers 24/7 travel assistance through a multilingual team, which can help policyholders with travel and coverage issues while abroad.

Credit card travel insurance is a benefit included with certain travel credit cards. You'll often see this perk with travel rewards credit cards, such as the Chase Sapphire Preferred^® Card, Chase Sapphire Reserve®, or The Platinum Card® from American Express.

You can purchase your travel protection plan up until the day before you depart for your trip. However, you are required to purchase your plan within 21 days of the date of your initial payments or deposits for your trip is received as an eligibility requirement for time-sensitive benefits.

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.

Tips for keeping the cost of travel insurance down

A change of country could save you a little cash. A holiday to Paris will usually cost you less in insurance premiums than a trip to New York. It's also important to check the country you are travelling to is actually covered by your travel insurer.

If you've spent money on nonrefundable airline tickets, tours and hotels, you could be at a loss if something goes awry. Travel insurance covers numerous scenarios, from a medical emergency to a tropical storm. It could be particularly useful if: You've spent a lot on prepaid, non-refundable expenses.

The short answer is: Yes you can. Many insurers provide policies that you can buy after you've left home for your trip. Just remember that travel health insurance that you buy after departure won't cover anything that happened before you bought the plan.

Trip cancellation insurance reimburses you for non-refundable and/or non-transferable deposits on pre-paid travel arrangements and cancellation penalties that a transportation carrier or tour guide may charge.