As the global travel restrictions are easing, taking your much-awaited vacation can be given a thought. With vaccinations in place and the travel and tourism industry restoring to normalcy, you deserve a vacation — after all, you must have waited for two, or maybe three whole years, for it.
Meticulous planning is crucial when it comes to making arrangements for your vacation. This includes planning to the very last detail for hotels, flights and even amenities. But, often travellers forget to plan for one critical aspect which is insurance.
Travel insurance is the coverage that protects you from unexpected situations that might come up during your travels. Loss of baggage, cancelled and missed flights, and loss of documents are some examples to name a few. Timing is critical in all of it. Let’s look at when it is the best to purchase a travel policy:
- Before you book your flight tickets
If you are an enthusiastic traveller taking multiple trips in a year, buying travel before you book your flight is the best time. There are many types of travel insurance plans that you can choose from. But for people who hop on flights many times in a calendar year, a multi-trip policy fits the best. This multi-trip policy covers all those trips that are made during the specified policy duration and is a cost-effective way to insure all your travels. *
- Last minute purchase
Some international destinations like the USA, UAE, New Zealand and the Schengen countries require a traveller to mandatorily have travel insurance cover. Hence, many travellers choose to buy international travel insurance at the very end before taking their flight. It is the riskiest way to purchase your travel insurance plan and must be avoided as far as possible.
The main drawback of the last-minute purchase is that you do not get all the benefits that you would have otherwise received. Moreover, it takes a few days to come into effect. Thus, there is a risk of being uninsured till your policy coverage begins.
Any unfortunate situation during your vacation like loss of baggage or delayed flight would mean no coverage is available at a time when you need it the most. Coverage for cancellation due to any reason, work reasons, cancellation due to medical conditions and protection against financial default are certain covers that require the policyholder to buy a policy early. Failing to buy a policy early may not offer any coverage even if you have the insurance plan. There may be a few other insurance covers that require you to purchase the policy early, and for that, you can check with your insurance company. *
- The ideal time to buy a travel policy
It is best advised to purchase your travel policy, be it an individual travel plan, travel policy for your work, or travel insurance for senior citizens, the time you make your first payments towards travel accommodations; be it airfare, hotel or other amenities. Early purchase of a travel plan helps protect you from unforeseen circumstances. *
* Standard T&C Apply
Things can change from the time you book your travel and you actually leave. Hence, it is best to buy travel insurance coverage with your first booking for your vacation.Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.