When Should You Buy Travel Insurance?

When to Buy Travel Insurance?

As we turn our attention to choosing our next holiday, it’s reassuring to know that most of us have some kind of travel insurance in place when we travel abroad. The Association of British Insurers (ABI) reported that in 2018, 78% of UK travellers had some cover in place, while 22% still travel completely uninsured.

Whatever your holiday habits, don’t be foolhardy by travelling abroad without travel insurance. UK travel insurers shell out £365 Million per year on claims, so you can be sure that holiday mishaps do happen.

So when should you buy travel insurance? When is the best time to buy?

That’s easy! Buy as soon as you book!

Many people make the mistake of thinking that the right time to buy travel insurance is just before you travel. However, if you make your travel insurance a last-minute purchase, you may be missing out on the full benefits available on your policy.

Read also: What 6 Aspects Do You Need to Check Before Choosing a Policy?

You are better off buying as soon as you book or pay for any part of your trip. Especially if you are organised and arrange your trip months in advance. The reason is, you will benefit from Cancellation Cover if you have to cancel your trip for an unforeseen reason, like an accident or illness that prevent you from travelling.

Every insurance policy is different and not all will provide Cancellation Cover, so it is vital to check before you buy. Globelink Travel Insurance Policies all include Cancellation cover as standard.

It’s important to know the cost of your trip so you get the right level of Cancellation Cover. Globelink policies offer cover ranging from £2,000 per person on Economy, Backpacker and Regular products and up to £6,000 per person on Comprehensive and Annual Multi Trip policies. You can also get Cancellation Top-Up up to £10,000. Cancellation cover provides financial protection for your pre-paid travel and accommodation costs and pre-paid excursions if your trip has to be unavoidably cancelled due to reasons specified in the policy.

Consider Annual Multi Trip Cover over Single Trip Cover

If you’re absolutely sure that you’ll only travel once this year, then Single Trip cover is fine. If there’s even a remote chance that you’ll take two or more trips, then Annual Multi Trip cover is definitely more cost effective. Don’t be put off because it might costs a bit more. You’ll save money over the year. Also you have the added peace of mind that your travel insurance is sorted for the next 12 months, so it's one less thing to worry about each time you take a trip – even that last-minute city-break you might consider. Buying in January mean you are good to go until next year. With Globelink, you also get free Winter Sports cover with the 45+ Day Trip Duration* (*some term and conditions apply). What’s more Annual Multi Trip customers receive a handy reminder when the insurance is due for renewal.

Wherever you travel always check FCO’s travel advice to help you stay safe and travel aware.

Read also: Are You Smart When It Comes to Travel Insurance?