A common question we are asked is, “When should I buy travel insurance?” Our customers know a plan is important but aren’t sure of the “travel insurance sweet spot”. Do they purchase before a trip is booked? The same day it’s scheduled? After the trip is paid off? Before or after they depart?
There are only three “rules” about when to buy a travel insurance plan:
- After your first trip payment is made. If you want to purchase a comprehensive plan to cover trip cancellation, we recommend you do it after making at least one payment towards your trip, but some plans require you to have already put money down. You will want to have a good grasp of your total expected trip cost. This will allow you to get the most accurate quote for the right travel insurance plan.
- As close to that first payment as possible. If you need coverage for a pre-existing medical condition or are interested in optional Cancel for Any Reason coverage, you should be aware that both of these have time-sensitive eligibility requirements tied to your initial trip payment (among other requirements). In other words, once you’ve paid for a part of the trip (whether it’s airfare, accommodations or a down payment for a cruise) you have a limited amount of time to buy a plan to access these benefits.
- Prior to when the plan is needed. You must purchase travel insurance coverage before it is needed. Some travel medical plans are available for purchase after you have departed, but comprehensive plans that include medical coverage must be purchased before departing. However, you can’t buy any medical coverage once you recognize a need for medical attention. The same applies to all travel insurance coverage. Once you recognize the need, it is too late to protect your trip.
So, in reviewing the three rules, you may still be a little confused on that “travel insurance sweet spot.” We tell travelers to prepare early. As soon as you book and make an initial payment on your trip, start comparing travel insurance plans.
Last Minute Travel Insurance
Travel isn’t always meticulously planned. While many of us like to take the scrupulous approach of scheduling things months in advance, making sure each hotel is booked, each flight secured, each detail firmly in place well ahead of our anticipated departure, there’s no denying that some trips just don’t work that way. Sometimes travel opportunities sneak up on us quite unexpectedly – whether from sheer spontaneity or something more serious that requires us to make hasty arrangements. Just because the planning phase has to be shortened considerably doesn’t mean that travelers should be any less proactive about buying a last-minute travel insurance policy to cover them in the event something goes awry. We’re fond of reminding travelers to purchase their travel insurance immediately after making their first trip deposit, so they’ll have access to all the potential benefits and options available. But what happens if the initial trip deposit and the trip itself go practically hand-in-hand?
Don’t Worry About Fancy Benefits
While Cancel for Any Reason (CFAR) policies are extremely popular with many travelers, for good reason, they’re probably not where you want to focus your search if you’re about to depart. CFAR is intended to help you out if you choose to cancel your trip for any reason that’s not stated as being covered on your travel insurance policy. However, if you’re putting together a last-minute itinerary, chances are you won’t be changing your mind. Also, since CFAR policies require you to cancel – and notify all of your travel suppliers of your decision – a minimum of two days prior to your departure, last-minute travelers may not have time on their sides.
Do Keep Up with the News
If you’re planning to depart quickly, you should scan the news and weather for any events that may disrupt your trip. It’s likely that anything you find will not be covered by your travel insurance policy; since travel insurance is only for unforeseen events, any hurricane threats, possible airline strikes, or other threats to your travel experience that are already being discussed in the media will more often than not be considered “known perils” and won’t be covered. Obviously, if you’re determined to travel, you should still purchase a last-minute travel insurance policy to possibly cover other disruptions, but it’s best to enter into your travel insurance purchase having a realistic expectation about what benefits are truly available to you.
Take Advantage of Time-Sensitive Benefits
The good news about being in a hurry is that, since you’ll be purchasing your last-minute travel insurance soon after you’ve made your first payment on the trip, you may be eligible for some very helpful benefits that aren’t offered to travelers who wait. Items like pre-existing conditions waivers offer valuable coverage, but are only available if you buy travel insurance within 10-21 days of your initial trip payment. That’s good news for last-minute travelers.
While some plans only offering post-departure benefits can be purchased last minute (single-trip travel medical, evacuation memberships or Accidental Death & Dismemberment plans), we advise not to wait when considering plans with pre-departure benefits like a comprehensive plan.
WHEN TO PURCHASE COVERAGE FOR CANADIAN CUSTOMERS
Only a few travel insurance companies on InsureMyTrip offer plans that cover medical emergencies and evacuation as well as cancellation, delay, and baggage. Some companies offer cancellation-only plans as well. All plans available on InsureMyTrip must be purchased before you leave Canada, you cannot purchase any of these plans once you have departed. Importantly, you cannot purchase coverage for only a portion of your trip; you must fully insure it. If you do not, then the plan would be considered invalid and not provide coverage.
Disclaimer: The information contained in this article serves as a general overview of benefits and should only be used for informational purposes. Refer to your individual certificate of insurance for specific coverages, exclusions and benefits. When in doubt, please contact one of our licensed agents for additional assistance.
Ask a Question
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Question
WE just put a deposit down today on a cruise that will not happen until October 2019. Because the price was very good, the deposit was almost the entire cost of the cruise. However, we will not be purchasing flights until probably this time next year. I would like to purchase insurance now, but how do I do that when i do not know the cost of the flights yet? Can I add them later and pay the additional cost?
By PattiJ - March 5, 2018
Answer
Yes. You can insure what you have paid for to date, and once you make subsequent payments towards the trip, you can contact us and update your existing policy accordingly, as long as you contact us prior to departure.
By MattG - March 12, 2018
Question
I already booked a condo for March 24-31 and paid in full. Can I get coverage for just that portion or is it too late? WE are driving, so no flights involved.
By Debra - March 13, 2018
Answer
You can purchase most policies up until the day before departure, however; you may not be eligible for some time sensitive benefits if you do not purchase within 10-21 days of the initial trip deposit/payment. Some time sensitive benefits are, but not limited to: Pre-Existing Condition Waiver, Financial Default, Terrorism, Cancel For Any Reason and Cancel For Work Reasons.
By MattG - March 14, 2018
Question
To purchase a policy, do I enter my age on the first day of the cruise, or at the time I purchase trip protection?
By Renee - July 31, 2018
Answer
When filling out the quote form, we ask to please list the traveler's age as of the date you are obtaining the quote, not the age you will be at the time of the trip.
By MattG - August 1, 2018
Question
I am travelling with my daughter and grandson who purchased a cruise , flight and hotel stay for me to join them . Can she insure all 3 of us or do I need to insure myself when expenses have been paid by her ?
By Tina B - October 3, 2018
Answer
If you live in the same state and travel on the same dates, you can all be listed on the same policy together with most providers. If you live in different states or travel on different dates, you would need separate policies. Each traveler would insure their portion of the total trip cost on their policy, even if one person is paying for all of the travel arrangements.
By MattG - October 3, 2018
Question
We are traveling to Europe next summer and just purchased airline tickets, but won't be booking the ground arrangements (bike tour) until early next year. Should I buy the insurance now and include an estimate of the bike tour cost, or do I need to have the ground arrangements under deposit before I buy the insurance? Thanks.
By Kathy - November 17, 2019
Answer
You can purchase most policies up until the day before departure, however; you may not be eligible for some time sensitive benefits if you do not purchase within 10-21 days of the initial trip deposit/payment. Some time sensitive benefits are, but not limited to: Pre-Existing Condition Waiver, Financial Default, Terrorism, Cancel For Any Reason and Cancel For Work Reasons. You can insure what you have paid for to date and any known costs, and once you make subsequent payments towards the trip prior to departure, you can contact us and update your existing policy accordingly.
By MattG - November 18, 2019
Question
Can I buy travel insurance before purchasing a plane ticket
By Chad - February 4, 2020
Answer
As soon as you have some sort of insurable interest (any money spent towards the trip) you can purchase a comprehensive travel insurance policy. You can purchase most policies up until the day before departure, however; you may not be eligible for some time sensitive benefits if you do not purchase within 10-21 days of the initial trip deposit/payment. Some time sensitive benefits are, but not limited to: Pre-Existing Condition Waiver, Financial Default, Terrorism, Cancel For Any Reason and Cancel For Work Reasons.
By MattG - February 6, 2020
Question
Traveling in June from Charleston to Mexico for a surfing trip can you get travel insurance if the borders are close due to the virus issues currently?
By MarkG - March 16, 2020
Answer
We can only suggest looking into "cancel for any reason" as this is considered foreseen at this time, and this is not something covered with Trip Cancellation. There are typically 3 conditions that must be met to purchase a Cancel For Any Reason Rider: Purchase the policy within 10 - 21 days of First Trip Payment; Insure ALL prepaid and non-refundable travel expenses prior to departure; Trip arrangements must be canceled more than 48 -72 hours prior to the departure date. If you meet all 3 of these conditions, this benefit will typically reimburse you 75% of your trip cost, unless otherwise noted. To view policies that offer this benefit, if you qualify, click on the "cancel for any reason" filter on the left side of the quote results page. If you are outside that time frame this benefit is not going to be available.
By MattG - March 17, 2020
Question
What dies initial payment mean, If it is a deposit to hold a reservation (which is cancellable)) is that a "initial deposit"? On my upcoming trip the depostit is $800 payable now and the balance is 14,000 payable say 60 days before trip.. When do I need to buy insurance to get pre-existing conditions waiver?
By Norman K - March 25, 2020
Answer
Typically, to be eligible for the pre-existing conditions waiver, you would need to purchase your insurance plan within 10-21 days after putting any money down towards your trip. This could include the initial deposit for your trip. Keep in mind that there are other requirements that must be fulfilled in order to be eligible for the pre-existing condition waiver, such as insuring the full pre-paid, non-refundable cost of your trip, you (and any others that would be covered by the waiver) must be medically fit at the time of purchase, and you must be purchasing within 10-21 days after making any payment toward your trip. It is important to read your policy details which will list all requirements.
By Meghan - March 26, 2020
Question
i rented a condo this summer at the jersey shore for one week. if we wanted to get insurance in case the beaches aren't open and we can't get our money back can we still do that. we already put down half the cost as a deposit and the rest is due 30 days prior. currently if we cancelled and they can rent the condo we would be out 12% of the total cost
By randi - April 29, 2020
Answer
Standard comprehensive travel insurance policies don't cover cancellation due to fear of travel or closed attractions, such as beaches. If these are your main concerns, you would want to purchase a comprehensive plan with optional Cancel For Any Reason protection selected. There are some eligibility requirements for this protection, such as insuring 100% of pre-paid, non-refundable trip costs, purchasing your coverage within 10-21 days after making your initial trip payment/deposit, and you must cancel your trip no less than 2 days prior to departure. Cancel For Any Reason can reimburse a portion, typically up to 50%-75%, of your trip cost depending on the plan purchased. A policy with Cancel For Any Reason can cost an additional 40%-60% more than a standard policy, is not available in all states, and eligibility requirements may differ by company.
By Meghan - April 30, 2020
Question
Can I only insure the hotel portion of my trip and not the flights? Or is it a must to include all non-refundable bookings?
By RaquelT - May 4, 2021
Answer
You can insure any amount you wish to insure, as long as that amount is prepaid non-refundable prior to departure. However, if you are buying coverage for pre-existing medical conditions or "cancel for any reason" you are required to insure 100% of all prepaid non-refundable travel arrangements even if you only wanted to insure a portion of the total cost.
By MattG - May 5, 2021
Question
I have put a down payment on a cruise. I want to buy travel insurance that includes a 'pre existing condition waiver' for the cruise. I would need to buy that within a few days for the time limits. I don't plan to buy airfare for another month or so. .Can I buy the travel insurance for the cruise only?
By DebraB - February 5, 2023
Answer
You can purchase most policies up until the day before departure, however; you may not be eligible for some time sensitive benefits if you do not purchase within 10-21 days of the initial trip deposit/payment. Some time sensitive benefits are, but not limited to: Pre-Existing Condition Waiver, Financial Default, Terrorism, Cancel For Any Reason and Cancel For Work Reasons. Most Comprehensive Plans will offer a waiver of pre-existing conditions if you meet the following conditions: You purchase the policy within 10 - 21 days of making your first trip payment; insure ALL prepaid non-refundable expenses prior to your departure date; and be medically fit to travel the day you purchase the policy. You can insure what you have paid for to date and any known costs, and once you make subsequent payments towards the trip prior to departure, you can contact us and update your existing policy accordingly. So when you purchase airfare or any other travel arrangements, please be sure to contact us to update the policy.
By MattG - February 7, 2023
Question
I just need medical coverage, which I am going to purchase today. I notice that all the policies say "secondary" for the medical portion, what does that mean exactly? My main insurance is Medicare, which I believe cannot be used in other countries. I am covered for trip cancellation, delay, baggage loss, etc. by credit card. Thank you,
By Colette - April 11, 2023
Answer
Primary coverage will pay FIRST, before any other collectible insurance. Secondary coverage will pay you after any other Primary collectible insurance has paid the claim and the Primary policy's limits have been exhausted. The Secondary coverage will act as Primary if you have no Primary coverage during your trip.
By MattG - April 11, 2023
Question
I put a down payment on a September cruise to Mexico. I put a down payment on this cruise on 3/19/24, Does the sweet spot time frame past due now since I'm waiting more than 10 days to purchase your insurance? Thank you, Layna
By LaynaC - May 14, 2024
Answer
You can purchase most policies up until the day before departure, however; you may not be eligible for some time sensitive benefits if you do not purchase within 10-21 days of the initial trip deposit/payment. Some time sensitive benefits are, but not limited to: Pre-Existing Condition Waiver, Financial Default, Terrorism, Cancel For Any Reason and Cancel For Work Reasons.
By MatthewG - May 18, 2024