Annual Travel Insurance policy query

kendadj

I currently have an annual policy covering Europe only which expires in Dec 2024.  We have just booked a trip to Canada for Sept 2025 and will be going on a cruise in April but am baffled as to how to address the insurance.

Martin says 'buy as soon as booked' which I always done for single trips but the latest I can buy a new annual policy today for most providers to cover Canada and the cruise would be beginning of Sept this year - the Canadian holiday finishes end of Sept 2025. 

So how do I cover next year's holidays as of today ?  Do I wait until my current Europe policy is due for renewal and change it to cover Canada and cruise (which leaves me without ASAB - which I could I suppose as only flights paid for so far and not intending to pay for any hotels et until the New Year). 

Any advice welcome please

michele-p

When booking holidays so far in advance, it's a good idea to know what it would cost you if you had to cancel at this stage? Have you paid a deposit - and if so is it the FULL amount you'd need to pay if you cancel - or is it a low deposit? Some of the package holidays take say £60, but if you cancel you are liable for the full deposit say £500 (random example), that's when insurance is very handy.

I've had hols where I've paid £150 deposit, and that's all I'd loose if I needed to cancel, so I'm happy to risk this amount until I can buy the insurance 12 months before.

Hope that makes sense?

daveyjp

For holidays next year all you need at the moment is cancellation cover (the Canada holiday may not be covered as its more than a year away, but at this stage all you will lose is a deposit) and your current policy should cover April holiday cancellation.

In December any new policy will cover cancellation of future holidays even if already booked.

DullGreyGuy

Most would speak to their current annual travel insurers to increase the coverage to world wide inc n.america and cruises. 

If it was a package then some may risk their deposit to avoid upgrading the coverage of their policy until renewal 

silvercar

Although I can see the logic in delaying taking a new policy, if you only have a deposit on risk, if your circumstances change between now and whenever you take the new policy you could find it expensive or impossible to find insurance. 

kendadj

Thanks everyone for your thoughts.   We have only paid for the flights with AirTransat at the moment (£1300) and won't be booking anything else yet (most hotels not taking booking for Sept 25 anyway) so that is our risk limit.  Will wait until renewal of policy in December