The best time to buy travel insurance is within 15 days of making the first deposit on your trip, since buying early can often qualify you for bonus coverages. However, many plans let you buy coverage up until the day before you leave. Just make sure you understand what is and isn’t covered if you don’t purchase within that 15-day window of making your initial trip deposit. The 15-day window (or the policy’s specified timeframe) applies to your specific policy.
Buying travel insurance within 15 days of making your first trip deposit sounds arbitrary, but here’s why it’s a smart move.
If you’re looking for a good reason to buy travel insurance early, it’s hard to beat additional coverage at no additional cost.
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).
So what are good times to buy travel insurance other than in the 15 days after making your initial trip deposit?
Fifty days out? That seems like an odd time to buy travel insurance. Here’s why it makes sense:
If you’re going on a big trip, just about the last time you’ll be thinking rationally about your trip is two weeks before you leave. What are advantages to buying two weeks before departure?
Regardless of what led to the decision, two weeks out is an excellent time to buy travel insurance if you haven’t yet, because your next option is …
Procrastination happens. If you don’t buy travel insurance when you make your first deposit, or start thinking about your trip, or when you’re two weeks out, you’re going to wait until the very last minute to buy.
Not the ideal time, but here’s why that’s still okay.
In the end, when you buy travel insurance isn’t nearly as important as why you buy travel insurance. And you buy it for things like:
If that’s important to you the day you book your trip, it’s going to be 10 times more important on the day you leave.
The product descriptions provided here are only brief summaries. Coverage and benefits will vary depending on product and state of residency. The full coverage terms and details, including limitations and exclusions, are contained in the insurance policy. Travel Insurance is underwritten by Berkshire Hathaway Specialty Insurance Company; NAIC #22276.