When should you buy travel insurance?

Travel insurance isn’t the most exciting part of going away, but a little extra admin while booking your break may help you avoid a holiday headache in the long run.

Many travellers don't realise that travel insurance doesn’t just cover you while you're away – it's also there to protect your investment before you even leave home.

But when we crunched the numbers at TravelSupermarket, we found that a whopping 36% of Brits leave arranging their travel insurance until the last minute.

Our study found that 17% of travellers buy insurance on the actual day of their trip, with another 19% purchasing it just one day before departure. A further 26% are buying their policies just within a week of departure.

It means many of us are missing out on crucial pre-trip protection – and we’re essentially throwing away half the value of our policies.

Here, we give you the lowdown on when to buy travel insurance, what you’re covered for and what to do if you’ve left it late.

When is the best time to get travel insurance?

You’ll get the most value out of your travel insurance if you buy your policy as soon as you book your holiday. This is because, in general, cancellation cover starts from the moment you take out the insurance.

However, there are some nuances depending on the type of policy you purchase.

When should I buy single-trip travel insurance?

As the name suggests, single-trip travel insurance covers you for one holiday. It’s a good option for infrequent travellers taking one or two trips a year, or for those who need specialist cover for pre-existing medical conditions, cruises or winter sports.

Buying a single-trip policy at the same time you book your holiday will offer the most protection. The cancellation coverage starts from the day you buy the policy; the rest begins when you leave home on the first day of your holiday.

When should I buy annual multi-trip travel insurance?

For travellers who go on multiple trips a year, an annual policy can be a more convenient and cost-effective option.

With these policies, you’ll need to choose a start date. Ideally, this will be on or close to the day you book your first holiday under the policy – not the day you depart – to benefit from cancellation coverage.

What if I’ve left it late to buy travel insurance?

If you've left it to the last minute, the good news is that you can still buy travel insurance until the day of your departure, and you’ll be protected right away.

Some specialist companies, such as True Traveller and World Nomads, also offer travel insurance if you’re already abroad. These post-departure policies are usually more expensive and may take up to 72 hours to kick in. This is to prevent travellers claiming for incidents that have already happened.

You’ll usually need to go direct rather than comparing prices on another site, too.

What’s covered by travel insurance before my trip?

Travel insurance gives you financial protection if you need to cancel your holiday due to unforeseen circumstances such as:

• Illness or accident
• Bereavement
• Redundancy

This means you’ll be reimbursed for any pre-booked elements of your trip, including flights, accommodation and tours, if the operator doesn’t issue a refund.

What’s covered by travel insurance during my trip?

During your trip, travel insurance covers you for a variety of circumstances, including:

• Medical expenses and emergency repatriation
• Personal liability claims if you injure someone or damage their property
• Delays and disruption
• Lost baggage and belongings

Cover for other things, such as gadget protection, are common policy add-ons.

Five things to do when buying travel insurance

Even if you’re buying travel insurance at the last minute, it’s worth taking the time to get it right. These five travel insurance tips will help.

1. Compare policies across providers

Many travellers simply accept the policy offered by their airline or tour operator without shopping around. Just as you would compare holiday prices to find the best value, it's equally important to compare travel insurance as the difference in price between providers for identical coverage can be substantial.

2. Check the medical coverage

Ensure your policy offers at least £2 million in medical expenses including repatriation, especially when traveling to countries with high healthcare costs. Medical emergencies abroad can be extraordinarily expensive – a serious injury or illness could cost hundreds of thousands of pounds in some destinations.

3. Understand the excess

Many holidaymakers don't fully grasp how excesses are applied. Be aware of how excesses work on your policy – per person, per section, or both. For example, if your suitcase is stolen and your wallet was inside, you might have to pay an excess on both claims. With group policies, you may also have to pay an excess for each person for any loss that impacts your entire party.

4. Pay attention to alcohol exclusions

Few travellers realise that having even one drink could invalidate parts of their policy. The interpretations vary widely between insurers – some specify 'drinking too much' while others might invalidate claims after just one or two drinks if they believe it affected your decision-making. This is particularly relevant for winter sports holidays, where having a drink at lunch before returning to the slopes could leave you completely unprotected.

5. Declare pre-existing conditions

Failing to disclose medical conditions could invalidate your entire policy. Even if your claim is unrelated to your condition, insurers can refuse coverage completely if you weren't transparent during application. Be completely honest about your health history – it's better to pay a little more for the right coverage than to find yourself with no financial protection when you need it most.