When is the best time to buy travel insurance?

Our advice is always the same, if you want the best deal and the best protection from your travel insurance, then it pays to buy as soon as you book your holiday. 

According to a recent survey by GoCompare, 49% of travel insurance is bought within one week of travel, this means that from the date the holiday is booked until the travel insurance policy is purchased, these travelers are no covered for the unexpected.

We all associate travel insurance with risks when we are away; things such as belongings becoming lost, damaged or stolen and medical expenses.
However, cancellation is also a very real risk today, and according to research by the Association of British Insurers (ABI), about 34% of travel insurance claims in the UK are for costs related to cancellations!

This obviously means that if you haven’t bought your travel insurance and you need to cancel before you travel then you are no covered.

**Note: Cheap Travel Insurance isn't always the best**

Why are holidays cancelled? 


There are a whole host of reasons why holidays get cancelled, but the most common reasons are a loved one falling ill, a crisis at home, such as fire, flooding, theft etc. and being and redundant.

At the time of writing this the Coronavirus is a very real risk and is currently responsible for thousands of holidays needing to be cancelled.

What in included in travel insurance cancellation cover? 


It depends on the policy (so read the small print when buying your insurance).

But typically most insurance companies will let you reclaim the cost of you holiday and some associated costs if you do need to cancel for many reasons, these include sickness, injury, problems at home and some redundancy situations.

All policies will contain a number of exclusions, so it is very important to check the policy documentation when buying.  

Check out MoneySuperMarket.com for some of the best insurance cover around.

Other ways of claiming for holiday cancellations


Travel Insurance is the very best way to cover yourself, but if for some reason you are not covered you might still be able to cover some money from your credit card company (if you pad on your credit card) or through the Travel Agent or Holiday Company if you boked through them and the cancellation is their fault.




FROM OUR PARTNERS

OUR BEST HINTS AND TIPS TO SAVE MONEY:

Book Cheap Overseas Holidays:
We tend to use lastminute.com, they constantly return some of the cheapest holidays abroad and they don't have to be made at the last minute either!

Book Cheap UK Holidays:
We use TravelSupermarket and Easyjet - maybe not known for their UK breaks, but they have some really cheap deals for hotels and B&B's around the country.

Travel insurance:
Holiday Extras can be difficult to beat, you can also book your airport parking from them too. Never leave home without your travel insurance to protect yourself from illness, injury, theft, and cancellations.

If you are looking for other areas to save money when booking holidays check out our Discounts and Deals page. We list all the ones we use to save money when we travel – and that will save you time and money too!

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