When Is the Right Time to Buy Travel Insurance?

Fast Cover travel insurance

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Travel insurance can be a lifesaver, especially when you purchase a Fast Cover travel insurance policy. It’s all about simplifying the enrollment process, but that begs another question—exactly when should you purchase travel insurance?

Fortunately, most travel insurance providers are fairly flexible, but there are some things you need to know about what you may and may not be covered for, depending on when you purchase your policy.

Purchase Coverage within the Advantage Period

It is best to purchase travel insurance as soon as you know you’re going on a trip. In most cases, that means weeks or even months in advance. Most travel insurance companies call this the advantage period.

In general, the advantage period means purchasing coverage within two weeks or more of your trip and making your first payment. Not only will it ensure that you’re completely covered the moment you step foot in the airport, there are some policies that many providers only offer to those purchasing during this period:

  • Cancel for any reason coverage
  • Cancel for work reasons or work conflict coverage
  • Pre-existing medical condition coverage
  • Financial default coverage
  • Hurricane coverage

It may also be worth your time to look into a policy as early as possible because some insurance providers offer discounts and special deals for those who are signing up during the advantage period.

Purchasing Coverage at the Last Minute

In a perfect world, you’d have your travel insurance all ready to go weeks in advance, but we don’t live in a perfect world. Maybe you forgot to purchase coverage, or maybe you snatched cheap flight tickets just days before departure. Fortunately, you can get coverage at the last minute.

In most cases, the travel insurance provider will activate your coverage as soon as you pay for your policy. So, if you can pay as soon as you request the policy, you can increase your chances of being covered.

What Happens If My Trip Is Cancelled?

It is frustrating to pay for travel insurance when your trip is cancelled. But, that’s only if you are unable or unwilling to pay for cancellation coverage.

Once you purchase your policy, it can be very difficult to cancel it, especially if you’re only covering yourself or your family for a single trip. By purchasing your policy early, you can add a cancellation clause to the policy, enabling you to recoup some of your losses.

If you purchase coverage at the last minute, you likely won’t have this as an option. If your trip is cancelled, you won’t be covered, and you may end up paying for an insurance policy that you don’t even end up using.

In general, getting travel insurance is always a good idea, even if you have to purchase it at the last minute. Knowing you’re covered if there’s an accident while you’re abroad can provide you with greater peace of mind, and it can lessen the monetary burden of paying for medical expenses out-of-pocket.