Given the present volatile conditions in all respects and rising tourism; travel insurance has become a must-have feature for all trips and especially an overseas trip. But the dilemma that plagues most of us is the right time to buy travel insurance. As it can be purchased until one day before boarding the flight; many think it is best to buy at the eleventh hour while others buy somewhere in the middle or any time they feel like.
We strongly suggest to but travel insurance as early as possible. When you have started to book your flights, accommodation and other tickets; you should also invest your time and but travel insurance as well. Delaying it will bring nothing but the risk of financial loss and no coverage of many benefits of travel insurance. To reiterate the point further; we list down a few key benefits of booking your Travel Insurance in advance.
- Trip Cancellation Protection
No matter how carefully you plan your trip; you might need to cancel it if a personal, medical or business emergency hit you like hospitalization or sudden death of a family member, medical issues, sudden business emergency, etc. The same reasons can also force you to cut short your trip if you have already embarked on it and return home from mid-trip. In both situations, you stand to lose all the money that you invested in purchasing the flight and other transportation tickets, hotel accommodation, and various other tickets.
You can avert this crisis and get the reimbursement for your full or partial trip if you have purchased travel advance much in advance. If you purchase travel insurance within 10 to 20 days of booking your first trip tickets; you stand to get a hundred percent of cost reimbursed regardless of the reason for trip cancellation. As the days go by, the number of trip cancellation reasons for which you would be reimbursed would get diminished and the percent of cost reimbursement would also go down and never be complete. The best way to completely eliminate any loss is to buy the travel insurance at the earliest. Simultaneously, you must also know that you would not be reimbursed if you are booking with the intention of cancelling the trip.
- Protection Against Illness
Most travel insurance does not cover pre-existing diseases. But you can get cover for them if you buy travel insurance at the earliest. You get the maximum coverage and almost all possible medical benefits available at a cost-efficient premium if you purchase the plan early. Like earlier, the extent of coverage diminishes with as time goes by and you are nearing the date of trip embark. Even if the option is made available till a certain specified time; you would be required to pay a much higher premium to procure that coverage. An early purchase of travel insurance saves you money while offering you extensive coverage.
- Protection Against Unforeseen and Uncertain Events
There are all kinds of risks attached the moment you step out of the house. Your plan might get hijacked; your destination of visit might find itself against political unrest or a natural calamity; you might find yourself suddenly embroiled in a legal case abroad and any other uncertainties. The best thing about an early purchase of travel insurance is that most of these unforeseen circumstances get covered.
For instance, you might know about an upcoming storm in your destination of visit and need to cancel your trip. You will not get reimbursed with a last-minute buy of travel insurance but can procure it effortlessly with early purchase.
- Flexibility and time to modify the coverage
Like all insurance plans, travel insurance has some base benefits that you can enhance and made more robust with add-ons. In sync with human tendency; you cannot think everything at the spur of the moment. But later with more research, and thought; you do get second thoughts about what an ideal travel insurance plan for you should cover. You can realize and modify travel insurance to suit you to perfection with early purchase. The option and flexibility to customize travel insurance diminish with time and you cannot modify any coverage to suit you better.
- Eliminate the risk of no insurance
Procrastinating the purchase of travel insurance can seriously leave you with no cover. You might be lazy initially but are likely to forget as time passes away. Premium payment might also get tough as you near the trip. Ultimately, you might board the trip with no insurance and then face financial crisis and mental trauma if any mishap happens. You can avoid being sorry and remain safe with early purchases.
Wrapping up
As evident, an early purchase of travel insurance brings you nothing but added advantages. You are relaxed, have more time to research and shop around, can modify and enjoy the maximum benefits possible. Hence, next time you are planning a trip, always buy travel insurance at the earliest.
