When is the best time to buy travel insurance? For a variety of reasons, it is prudent to purchase travel insurance when you first book your trip (i.e. make your first payment for travel arrangements). Why? Most travel insurance policies contain one or more time sensitive provisions that broaden coverage. Time sensitive provisions which may be included in a policy are: waiving of Pre-Existing Conditions Exclusion; travel supplier Bankruptcy or Insolvency coverage and the Cancel For Any Reason Benefit.
Important Tip! It is generally a mistake to wait until final payment for your trip to purchase travel insurance, because by buying earlier you receive better coverage at the same price.