We often get asked about the best time to buy travel insurance, with queries about cover and cost being most regularly asked. Here at Worldcare Travel Insurance, we’ve taken your frequently asked questions to help shed some light on the subject of when it’s best to buy travel insurance.
Will I pay more to buy travel insurance early?
It’s a common myth that people think that travel insurance is going to cost more money if they purchase it when they book their first part of their trip – be it a flight or a tour – but that’s not the case. We only charge for your actual travel dates of your trip, except in the instance of cancellation and lost deposits. This means if your trip is from December 14th to December 28th for a white Christmas in Germany then you will pay for 15 days of travel insurance cover to Europe whether you buy that in April or on the day you travel. The added bonus of buying it at the time of purchasing any of your holiday components is that you are also protecting yourself and your travel investment against the unexpected.
What do you cover if I buy early?
Whilst your holiday may not be happening for months and you may not think you need cover for something so far away, Worldcare’s Comprehensive travel insurance policy includes unlimited cover for cancellation and lost deposits and it’s the only part of the cover that commences from the date of purchase, not the date of departure. If you prefer a cheaper travel insurance option, then our Budget policy covers cancellation fees and lost deposits to $5,000.
What is cancellation and lost deposits cover?
Cancellation fees and lost deposit cover is for pre-paid travel and accommodation expenses that you would lose if you couldn’t travel for reasons outside your control. This might be due to sickness, injury or accident, natural disasters, collisions or strikes. The closer you buy your insurance to purchasing your flight or first travel expenses, the more use you can get out of this policy benefit.
What happens if I buy travel insurance just before I travel?
When you buy travel insurance the day before or day of travel you still pay the same price, even though you no longer can benefit from the cancellation and lost deposits cover. It’s why we recommend that you buy early to cover for the unexpected. Of course, all the other policy benefits commence when you depart New Zealand so there is no change there.
We hope this has highlighted the benefits of buying your insurance early. We recommend you get into the habit of checking out Worldcare and getting a quote as soon as you pay for the first item of purchase for your trip. If you still have some questions, our friendly and experienced sales support team are contactable on 0800 553 550.