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Insurance forum

Travel Insurance - When to Buy

Posted by plew10 on 31/3/2010 at 03:27

Just booked airfare to Thailand for June. Does anyone know how soon I have to buy travel insurance in order to be covered for a trip cancellation?

I'm looking at World Nomads right now, and all they say is "you have to buy the policy when you start booking tickets and not the week before you leave."

#1 plew10 has been a member since 4/1/2010. Posts: 20

Posted by shaydan_01 on 31/3/2010 at 06:34

Hi phlew10,

I guess what you need to try and figure out first is what will work out more expensive, loosing money on things you've already booked or paying for an extra couple of months of insurance to cover you. I would guess that the latter would generally work out cheaper unless you had super cheap flights and no accomadation booked, so if you can afford it, booking it in advance is a smart idea.

On the other hand, it also depends on how high the chances of you having to cancel are? I have never booked my insurance more then a week in advance, but I am aware of the risks involved in doing this, and I guess I will deal with the consequences if I do cancel and arent covered. But then again the chances of my plans being changed or cancelled are very slim. Unless my destination suddenly turns into a no-go zone or something tragic happens at home, I'm going rain, hail or shine :D

Enjoy your trip!

#2 shaydan_01 has been a member since 16/11/2009. Location: Australia. Posts: 80

Posted by plew10 on 4/4/2010 at 03:28

That makes sense...I think we'll just wait until right before we depart. Thanks for your reply!

#3 plew10 has been a member since 4/1/2010. Posts: 20

Posted by ms1892 on 4/4/2010 at 03:48

I booked my travel insurance about 2 months in advance, although the policy only covers the dates i am actually away (and a day or two on either side). I assumed that should the trip be cancelled outside the range of those dates, ie a month before hand, it would still be covered by the existing policy. I guess I should refer back to the small print to double check that.

#4 ms1892 has been a member since 23/12/2009. Posts: 38

Posted by UpwardSpiral on 4/4/2010 at 10:26

do _not_ use World Nomads; they refused to cover the cost of my stolen camera which is included in the policy. they are a scam, i recommend getting a difference insurance co. or go without.

#5 UpwardSpiral has been a member since 21/5/2009. Posts: 8

Posted by busylizzy on 4/4/2010 at 16:52

plew10 - you should take out your policy as soon as you pay for your tickets.

If you have only paid a small deposit, you may want to hold out until the pay for the tickets in full. (Worst case, something goes wrong and you lose your deposit). But once you've paid for the full amount, get the insurance. In that way, you covered in case something prevents you from leaving on your holiday as planned - for example, illness or death in the family, or a broken bone. (That happened to me once - I broke my ankle the day before I was due to leave!).

Regardless of when you take your insurance, you will only pay for the days of your holiday. That means your departure date through to your arrival back home, inclusive.

#6 busylizzy has been a member since 31/12/2007. Location: New Zealand. Posts: 2,152

Posted by plew10 on 4/4/2010 at 21:53

Ah, I was assuming (incorrectly) that you had to take out the policy starting now and going all the way through the trip...so it would make the policy much more expensive. But I finally figured out how to change the start date of the World Nomads policy so we'll only have to pay for the dates we are gone. Thanks so much for all of your advice...I think we'll buy soon so that we're covered for cancellation if anything happens - hopefully not!

#7 plew10 has been a member since 4/1/2010. Posts: 20

Posted by ms1892 on 4/4/2010 at 22:28

Sorry to disagree with you upwardspiral but i wouldnt suggest going away without travel insurance. The way I look at it, losing your possessions is an inconvenience but they can be replaced in time. The real value of travel insurance is for the health cover it provides.

If you were to require an air ambulance or any kind of serious operation the costs can quickly escalate into the $1000's. I dont have that kind of money readily available.

Finally, a word on World Nomads, I looked at their policies online and found them to be uncompetitive. I went elsewhere for my insurance.

#8 ms1892 has been a member since 23/12/2009. Posts: 38

Posted by UpwardSpiral on 13/5/2010 at 03:20

ms1892 good point, i just have a sour taste in my mouth from world nomads. get the evacuation insurance which provides you with transportation to BKK for health emergencies. its like $60 for 4 months.

#9 UpwardSpiral has been a member since 21/5/2009. Posts: 8

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