when to start travel insurance

navarato

Morning everyone

I'm going to be buying some travel insurance-an annual policy. We will be travelling on the 26th july and i have booked the flights already as it worked out cheaper to book at that time. In the past i've started the travel insurance policy from the day i travel and not before, but because of the recent adverse travelling conditions i'm thinking perhaps i should start it a month before we travel so im covered for any cancellations should they occur? Although i know some people say to start the travel insurance from the date you booked your hol, how soon do other people start their travel insurance polices from before they travel?
thanks

Incapuppy

Ideally the policy should start on the same day that you make your (or part of your) travel arrangements.

If you started the policy from the day you were due to travel what would you have done if you had broken a leg a week prior to your holiday? Lost your money, that's what.

stephb34

What will you do if something happens between now and when you take out your insurance all your money will be lost and presuming as its school hols you havent paid 1p per flight can you afford to lose the money. My annual policy inc excess waiver for a family of 3 was just over £100 and worth every penny and i could have got cheaper you don't have to pay a fortune for insurance. Also check your policy covers separate components and not just package holidays.

luci

Travel insurance is taken out to cover you for the unexpected. If you think you won't need to claim more than a month before you go then fine, leave it till then, but can I borrow your crystal ball when you're finished with it?

However this site is littered with people who were going to get insurance "nearer the time" and then found they had no cover when the ash crisis happened.

No-one knows what is around the corner and that's why sensible people take out insurance. It's one thing you hope you never need to use, but are grateful for should you need to claim.

dzug1

An annual policy you take out to start as soon as you book the holiday. Within its T&C it covers you for anything happening from then on until it expires, regardless of the dates of the holiday(s)

A single trip policy is for the actual dates of the holiday. It covers anything that happens in relation to that particular holiday (again within its T&C) from the date it is taken out onwards.

Incapuppy

dzug1 wrote: »

A single trip policy is for the actual dates of the holiday. It covers anything that happens in relation to that particular holiday (again within its T&C) from the date it is taken out onwards.

Which, to clarify, should be at the same time you make your travel arrangements.

moonrakerz

Incapuppy wrote: »

Which, to clarify, should be at the same time you make your travel arrangements.

Not necessarily ...........

If you have paid a fairly small deposit it may not be worth insuring yourself if the deposit is less than the premium. Insure when you pay in full in that case.

richardw

Depends how much you can afford to lose and the insurance excess.

moonrakerz

richardw wrote: »

Depends how much you can afford to lose and the insurance excess.

It isn't really a case of how much you can afford to lose, more a case of how much you WILL lose.

If you have paid 10% of a £500 holiday and your premium is £30, and the excess is £50 - it doesn't make any sense to insure until you have paid the full amount.

mrcow

moonrakerz wrote: »

Not necessarily ...........

If you have paid a fairly small deposit it may not be worth insuring yourself if the deposit is less than the premium. Insure when you pay in full in that case.

No.

Don't do this.

You need to check any cancellation penalties first. Many travel companies have a scaling cancellation penalty system. Don't just assume that the deposit is all you'd be set to lose. Especially if you've paid a low deposit.

If you're going to get annual cover, then booking it now is the best plan to avoid any nasty surprises.

fifeken

Incapuppy wrote: »

If you started the policy from the day you were due to travel what would you have done if you had broken a leg a week prior to your holiday.......

Exactly what happened to me five weeks ago (and still in plaster). Total losses limited to 1 x insurance excess. I didn't have much to lose anyway but the policy has more than paid for itself so my advice is take it out from time of booking.
Good point by moonrakerz however about potential loss v cost of insurance.