September 29, 2018
Puneet
Travel insurance, Best time to buy travel insurance, Comprehensive travel insurance, Trip cancellation cover, Travel insurance for trips.
Even an idea of a trip makes us so excited. It exhilarates us and we begin to plan all sorts of fun activities. But with these we also think of insurance and we are baffled by the best time to buy travel insurance.
It is suggested to buy travel insurance before booking. It is said the earlier the better. Why?
Before that, let’s dig into why one really needs travel insurance.
Suppose you booked tickets for a trip but you become so sick that you cannot travel. In such a scenario if you have a cancellation cover you will be reimbursed. So, you need travel insurance for unexpected trip cancellations.
Also, you need to have a travel insurance to cover trip interruptions. Trip interruptions may be a repercussion of some historic medical condition or a natural disaster in your travel location. So, having travel insurance can help you a lot. This is also referred to as comprehensive insurance plan.
Now, the question arises when to buy travel insurance? So, there are just 3 scenarios in which you can buy a travel insurance.
Buying travel insurance instantly after completing travel arrangement is the best way.If you wish to purchase a comprehensive insurance plan; it is recommended that you do it after making at least one payment towards your trip. Although some plans require you to fulfill your entire travel expenses. So, in order to have a good grasp of your total travel expenditure one must buy travel insurance immediately. Also, buying travel insurance in this period leads to wider coverage window.
Usually, initially travelers postpone buying travel insurance and then in the end they realize that it’s too late now.
The second best time to buy travel insurance is within 2 weeks of making your first payment towards the trip. Comprehensive insurance plan and Cancellation cover have time-sensitive eligibility requirements linked to the initial trip payment, which implies that once you’ve done entire or part of payment towards your trip, you have a limited amount of time to access these benefits The 14-day period is crucial while buying travel insurance, because it’s the cutoff point for cover against pre-existing medical conditions. Many travel insurance policies include this benefit, which incorporates that a family member or a traveling companion may have an existing medical condition and still be eligible for all applicable benefits and assistance services.
The third best time to buy travel insurance is any time before the departure. In the excitement of arranging your trip, you completely forget to buy an insurance policy and on top of it, the case may be that the next day you need to depart. And you suspect whether buying a policy now is worth it or not?
It is smart to buy insurance late than not have it at all. Although at this moment, you do not require trip cancellation cover, but you can buy a policy that gives you comprehensive trip cover.
Travel insurances are designed to cover unforeseeable events and not things that are easily foreseeable, or things that have already happened while you purchased your policy. Thus, insurance plans should be purchased as early as possible in the booking process.
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