When to buy travel insurance? | Allianz Global Assistance (2024)

FAQs

When to buy travel insurance? | Allianz Global Assistance? ›

If you buy travel insurance within 14 days of your first trip payment, and meet certain requirements, you can be covered for existing medical conditions. Just don't wait too long. Travel insurance can't cover foreseeable events or travel disruptions that have already occurred when you buy your plan.

In general, you can buy coverage any time before the date of your trip. That said, it's always best to buy coverage as soon as you make your reservations. The sooner you buy travel insurance, the sooner you'll be protected and the more benefits you may be eligible to receive.

When to buy travel insurance can depend on the trip or trips you're taking and the kind of policy you choose to suit them. Usually, though, it's best to get cover in place for your holiday as soon as you've booked or made a financial commitment to it.

Because of this, the effective date of the plan will be one minute after midnight the day after you bought the plan. If you purchased your travel insurance on April 26th at 4:13pm, your plan will go into effect on April 27th at 12:01am. This will allow you to utilize your trip cancellation coverage if needed.

For most travel insurance plans, you must file your claim within 90 days of the incident, also known as the timely filing limit. Submitting your claim outside the timely filing limit could result in your claim being denied.

One of the many unfortunate things about travel insurance (apart from the eye-watering cost) is that most providers typically only allow travellers to buy coverage up to 12 months before departure.

You can purchase travel insurance any time before the date of your departure. However, your plan choice may be limited if you wait until the last minute.

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).

Purchasing the night before your trip works. That's because trip insurance goes into effect the day after you purchase it. So if it's midnight on the day of your departure, it's too late to buy comprehensive travel insurance.

Your insurance policy actually has two important dates noted on the declarations page: the effective date and the date of issue. The first is the day coverage starts, but the second is the day the insurance company creates your policy. While these can be the same day, they might not be.

What is effective date for insurance? ›

The effective date is the date in which a person's coverage under an insurance policy begins for that year or period—in other words, when coverage starts. It typically applies when a person begins a new job, makes changes to their benefits during open enrollment, or experiences a qualifying event.

Can you get travel insurance while overseas? Yes! You can easily buy travel insurance after departure.

From medical emergencies to lost luggage, travel insurance is an essential tool for ensuring peace of mind. The best time to secure travel insurance is immediately after booking your holiday.

Unfortunately, there's no exact timeline—the amount of time it takes to process a claim tends to vary from case to case and from company to company. In general, however, most claims should be processed within a few weeks (once the insurance company has all the documentation they need).

You can buy a travel insurance policy even when you're at the airport about to board the plane. Most insurers, including us, offer travel insurance policies until you have gone through customs at the airport. We can't provide post-departure policies – once you've entered the country or are halfway through your trip.

While you can purchase your travel insurance at any point before leaving on your trip, there are a few added benefits to purchasing early. Don't worry if you've missed the window, though. Our plans still come with great comprehensive coverage no matter when you purchase – that won't change!

Cancellation cover is a common inclusion with most standard travel insurance policies, but you can take it out separately if it doesn't offer enough cover. Alternatively, if you only want cancellation cover to protect you against cancelled flights rather than baggage protection, you can get it for that.