Report: Holiday Travelers Wait Too Long to Buy Travel Insurance

Last updated on 03/28/2023

WARWICK, R.I., Oct. 4, 2021 -- A new data report from InsureMyTrip suggests that travelers are waiting too long to purchase travel insurance. The latest buying data reveals travelers with trips for 2021 Thanksgiving Week will wait about two and a half months, on average, to buy coverage after booking a trip.

This delay in purchasing travel insurance may prevent travelers from qualifying for time-sensitive benefits, including Cancel for Any Reason (CFAR) coverage. InsureMyTrip recommends that travelers obtain a trip insurance policy soon after booking a trip to maximize all coverage opportunities.


  • Travelers wait an average of 80 days (about 2 and a half months) after deposit to buy travel insurance
  • Travel insurance should be purchased within a few days after any deposit or payment is made on a future trip
  • Time sensitive benefits may expire in as little as 10 days (about 1 and a half weeks) after a trip deposit is made
  • Cancel For Any Reason, pre-existing medical conditions exclusion waver, and financial default coverage are common time-sensitive benefits

Why Dates Matter
While travelers do have the option to purchase travel insurance until the day before departure, there are eligibility requirements for time-sensitive benefits. Requirements may include that a plan must be purchased within a certain number of days after an initial payment or deposit has been made for a trip. Travelers must provide this "trip deposit date" to receive an accurate travel insurance quote, in addition to other general information.

Time Sensitive Benefits
Time sensitive benefits are only available within a specified period after making an initial trip payment. This period varies by plan and company, but it is typically somewhere around 10 to 21 days. The most requested time-sensitive benefits are Cancel for Any Reason coverage, a pre-existing medical conditions exclusion waiver, and financial default coverage.

Note: Traditional travel insurance does not offer cancellation coverage for fear of travel, whether related to COVID-19 or not. Cancel For Any Reason is required.

Unforeseen Events
Travelers should also buy early to boost potential coverage for unforeseen events. Generally, once an event is considered known, like a bad storm, travel insurance will not cover any losses related to the event.

Note: Most travel insurance companies now treat COVID-19 as they would any other unexpected illness, where not specifically excluded.

Meghan Walch
Travel Insurance Expert
[email protected]

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SOURCE InsureMyTrip