Last Minute Travel Insurance: Coverage and Cost Guide (2024)

Can You Buy Travel Insurance Last Minute?

Travel insurance protects against the same things regardless of when you purchase the policy. However, events that begin before you purchase the insurance won’t qualify for coverage, nor will pre-existing conditions.

The protections and benefits of travel insurance almost always outweigh the drawbacks, so a policy is a good investment even if you purchase it at the last minute.

How Late Is Too Late For Travel Insurance?

Most travel insurance companies will sell trip protection policies until you depart. However, they won’t cover any events or illnesses starting before you buy coverage.

For instance, if a hurricane forms before you buy your policy and eventually affects your destination, the insurer will not reimburse you under its trip cancellation insurance rules. You should always look at the fine print to find out such details.

The advantages of travel insurance are comparable whether you purchase a policy after booking or right before takeoff.

• The policy still protects against events causing trip cancellation before takeoff.
• Coverage extends to any companions or family members listed on the policy.
• You can get reimbursem*nt for trip interruptions or delays occurring after departure.
• If you purchase a plan with health insurance, you won’t have to pay for emergency treatments or medical evacuation if you become ill or injured during your trip.
• Many policies have reimbursem*nt for lost baggage or stolen items.

Overall, the coverage provides peace of mind by giving your protection from the most common travel-related risks.

You should be aware of the potential pitfalls of a last-minute travel insurance purchase.

• Issues arising before the purchase aren’t covered. If an illness or natural disaster in your destination started before you bought insurance, the policy will not reimburse you for cancellation. Also, some ongoing events, such as a conflict or pandemic, may require additional coverage.
• Pre-existing medical conditions may be covered, but insurers often require you to purchase a waiver within 14 days of your first trip deposit. If you wait until the last minute to buy insurance, you won’t be eligible for the waiver.
• If you wait until the last minute, you may not have time for an in-depth comparison of travel insurance providers.

You will need to decide if the protection offered by insurance services outweighs these negative aspects of last-minute coverage.

Covered reasons are typically those events beyond your direct control. They may include an unexpected illness, death in the family, natural disaster, transportation shutdowns or legal obligations you were unaware of before purchasing the insurance.

Factors To Consider When Choosing a Policy

You want to be sure your travel insurance covers all your potential risk areas. However, you cannot purchase a random single-trip comprehensive policy. You should consider the details carefully before buying.

Coverage Limits

A coverage limit is the maximum amount the insurer will pay for each covered event. For instance, if you have $25,000 in medical emergency coverage, the insurer will pay for hospital bills totaling $25,000. However, if your bill is $30,000, you would have to pay the remaining $5,000 out of pocket.

You should always ensure that the coverage limits match the potential costs in your destination.

Exclusions and Pre-existing Conditions

Insurers will list exclusions, which are events and conditions they won’t cover. Pre-existing conditions are the most common exclusion. You need to ensure your last-minute insurance purchase covers pre-existing conditions or see if it is possible to purchase a waiver to get coverage. Many insurers require you to purchase your policy a minimum of 14 days before departure in order to qualify for a waiver for pre-existing conditions.

Other exclusions could include injuries occurring due to risky adventure sports or activities like scuba diving or mountain climbing.

Deductibles

Deductibles are out-of-pocket payment amounts you are responsible for before insurance coverage takes over the cost. Deductibles are most common for medical insurance. Cheaper travel insurance may have higher deductibles.

Existing Coverage

You might already have some trip insurance through another source. For example, some credit cards offer cancellation coverage if you pay for airline or hotel bookings using the card. In these cases, you would not need coverage for cancellation, or you could purchase a comprehensive plan with the lowest possible coverage limits.

Finally, if you take many last-minute trips, annual travel insurance, which provides coverage for an entire year, may be a better investment than a single-trip policy.

In addition to insurance, these providers also offer travel assistance and services to help you find medical care abroad.

Here are the steps for getting immediate travel insurance: