Timing is everything


CSA Travel Protection, a US-based travel insurance provider, has shared with consumers its advice on the timing of when to buy travel insurance, in the hope to improve the general public’s knowledge about an often misunderstood subject. The company noted that while most people know that they should buy travel insurance before something happens and that they should purchase travel insurance policies when they’re spending more than they can afford to lose, many holidaymakers don’t know when they should buy a policy.

“The financially prudent thing to do is to buy insurance when you have money at risk,” said Bob Chambers, vice-president of operations at CSA Travel Protection. “If you buy a non-refundable airfare, which most of us do, your money is at risk right away. For cruises and tours, it may not be an issue until cancellation penalties start to kick in. That could be at six months prior to departure.”

CSA has urged travellers to consider the following when pondering the need to buy cover for their trip:

  • Buy travel insurance as soon as money is at risk. Is the flight purchased non-refundable, for example? Find out when the cruise and/or tour cancelation penalties kick in.
  • Another good rule of thumb is to buy travel insurance when the first trip payment, such as the airfare, is made. That way, travellers can get maximum coverage, especially for Trip Cancellation.
  • Holidaymakers can still get travel insurance even if they have a pre-existing condition. And even if a non-traveling family member has a pre-existing condition, they might be covered under some of CSA’s plans.
  • As always, know when the ‘free look’ period ends. It can differ from state to state.