While technically travelers can purchase travel insurance as late as up to the day before the departure date, there are many reasons why purchasing a travel insurance policy early is the way to go.
The most important aspect to understand is what determines the trip deposit date. Once a traveler makes the first initial payment for a planned trip, that date becomes the initial trip deposit date. Even if you have not yet made plans or paid for all the expenses you will be paying for the trip, you are able to cover all additional costs for items such as plane tickets and tours even after you make your first initial travel insurance payment. It is always better to purchase an insurance policy and then add any expenses at a later time.
Trip Cancellation and benefits begin protecting travelers for all of the covered reasons the day directly after the plan have been purchased which ensures a much greater chance that you won’t lose any of your investments if something comes up. There are also additional features of travel insurance such as Cancel for Any Reason Coverage and Pre-existing Conditions Waivers that require time specific requirements in order for coverage to be considered effective. It is also important to purchase a plan at the initial trip deposit to cover your pre-paid costs for things such as financial default, hurricane and weather disruptions, and cancel for work reasons.