Buying travel insurance at the eleventh hour is one of the biggest pitfalls. Picture: Pexels
Purchasing travel insurance is likely on your to-do list if you’re planning to travel, especially out of the country.
One aspect that is often overlooked is that timing is critical when it comes to getting the full benefits of potential coverage, and new data reveals nearly a third of travellers are making a costly mistake.
Travel Insurance Consultants revealed that over the last 12 months, on average, South African travellers purchased travel insurance 48 days before departure.
According to Lynette Machiri, Flight Centre customer experience leader in South Africa, buying travel insurance at the eleventh hour is one of the biggest pitfalls they also see.
“Delaying coverage can leave you unprotected against unavoidable cancellations or illnesses in the lead-up to your getaway and quite simply, you may forget to buy it! Once you’ve already departed on your trip and left your home country, it’s too late to buy travel insurance,” she said.
Machiri also said they always tell clients to purchase travel insurance immediately after booking to lock in cancellation coverage right away.
Simmy Micheli, sales and marketing manager at Travel Insurance Consultants, agrees.
“Once you’re committed and made those non-refundable payments, book your insurance. You can buy a policy up to a year in advance and be covered for any unexpected events that could derail your travel plans far in advance,” said Micheli.
So here is what you should and what to avoid when purchasing travel insurance, according to the experts.
The key things you could be missing out on
Micheli noted that purchasing travel insurance the day of travel means you likely won’t have cancellation coverage included and this safeguard reimburses you for non-refundable trip costs such as flights and hotels if you have to cancel for a covered reason prior to departure.
“Cancellation claims are common, accounting for the majority of travel insurance payouts. It’s one of the main reasons people are thankful they invested in a policy,” she said.
So, when exactly should you buy travel insurance?
While you technically can buy travel insurance up until 24 hours before your departure, Travel Insurance Consultants (TIC) advises doing so as soon as any non-refundable payments are made.
Their policies, recommended by Flight Centre Travel Experts, cover you for cancellation cover from the date you purchase the policy until you depart.
“We always recommend purchasing travel insurance from a trusted provider like TIC at the same time you book your holiday. That way clients have complete peace of mind knowing they are covered for any unexpected hiccups from the very start,” said Machiri.
Machiri also suggested that you purchase your policy the moment you make payment towards your trip, as this is when your money is at risk and when your policy should be in place.
“Purchasing a travel insurance policy within 48 hours of making payments also ensures that you get wider cancellation cover. It’s important to note that while Flight Centre travel experts can provide information about insurance products and recommend TIC policies, they cannot provide financial advice,” said Machiri.
She added that should you have specific questions, your Flight Centre Expert will refer you to a TIC consultant who will provide you with more detailed information.
Why purchase travel insurance?
Machiri noted that there are plenty of reasons why you should purchase travel insurance.
“From developing a last-minute illness and sudden family emergencies to visa delays and travel disruptions, the list of calamities that could force cancellation is long.
“And that’s before even reaching your destination, where lost luggage and missed connections might happen,” she added.
Lastly, the travel expert said that by purchasing travel insurance promptly when initially booking a trip, you’ll have the full gamut of coverage giving you financial protection and precious peace of mind every step of the way, because an epic holiday calls for checking off amazing experiences, not dealing with travel nightmares.