Many would agree that an unforeseen incident can ruin even the best-laid plans. Thankfully, travel insurance can help you stay stress-free on your trip by covering your financial risks.

But when to buy travel insurance? Is there a right time? While you can buy your international travel insurance even a day before your travel date, it would be wise to do so at least two weeks in advance.

Let us learn more about when to get travel insurance and important parameters to address when purchasing overseas travel insurance.

When Should I Buy Travel Insurance?

There is no specified timeline for purchasing travel insurance. You can purchase a suitable policy up until a day before your scheduled departure.

However, buying travel insurance too early or too late can have certain consequences. For example, you may miss out on some important coverage areas.

By purchasing your policy too early, you might miss out on some important coverage requirements you encounter during your visa processing. Similarly, buying a plan at the last minute can also lead to inefficient coverage due to the rush.

For these reasons, it is highly recommended you buy your travel insurance plan as soon as you finalise your travel dates and book your flight tickets.

Below are the main considerations when purchasing international travel insurance plans:

Trip Cancellation Coverage

There can be numerous emergency scenarios that can arise, such as medical emergencies, injury or accident, etc. before you embark on your overseas journey.

A travel insurance policy offers coverage towards trip cancellation. This benefit comes into play when you have to cancel your trip even before it begins. It allows you to get reimbursed for all the non-refundable, prepaid and forfeited expenses you incur due to sudden cancellation. These include flight tickets, reservation cancellation charges, pre-booked accommodations and so on.

Simply put, travel insurance protects you from major financial losses, allowing you to plan for another similar trip later.

On the contrary, not having travel insurance in place at the right time can result in significant financial losses.

Timely Visa Processing

Travel insurance is a mandatory requirement for securing a visa for some countries such as UAE, Schengen countries, Thailand, etc.

Thus, if you are visiting a destination with a mandatory travel insurance requirement, you must buy travel insurance before filing your visa application. It is important to understand that the absence of valid travel insurance can lead to unnecessary delays and even denial of your visa application.

Things to Consider When Buying Travel Insurance

Now that you have understood when to buy travel insurance, let’s discuss some other critical factors to address when buying an international travel insurance policy.

Learn About Required Coverage

Different countries have different travel insurance coverage requirements for travellers. For instance, Schengen countries require a minimum coverage of €30,000 from the visitors.

Before you buy travel insurance, learn about the minimum coverage amount and other requirements. This will help you enjoy efficient financial coverage while staying outside your home country.

Work with Recognised Provider​​

Since you are travelling outside the country, it is important to ensure that your travel insurance plan or provider is recognised at your travel destination. You may have to face inconvenience when availing insurance benefits if your insurance provider is unrecognisable.

Cashless Hospitalisation​

Cashless hospitalisation is a key benefit of travel insurance policies in India. It allows you to receive cashless emergency treatment at network facilities located in your travel destination. When buying a suitable plan, learn about cashless hospitalisation, its process, and how to avail yourself of the benefits.

Ensure Smooth Claims Settlement

The claims settlement process of a travel insurance plan decides whether or not it is worth buying. Thus, pay special attention to the claims settlement process and claims settlement ratio when buying your travel plan. Make sure that settling claims is easy, quick and reliable. Also, consider working with an insurer with a higher claims settlement ratio.

Learn About Policy Extension​​

There can be instances where you might have to extend your trip due to unforeseen circumstances. To ensure continuous coverage during your extended journey, learn about the policy extension rules. At Reliance General Insurance, we offer automatic travel insurance extensions for up to 30 days.

Declare Pre-existing Diseases​​

Pre-existing diseases are health ailments you already have when buying insurance. Typically, most travel insurance policies do not offer coverage for pre-existing diseases. They mostly come with dedicated plans, such as our senior citizen travel insurance.

However, the policy will only cover the pre-existing conditions you declared at the time of purchase. Hence, if you want coverage, make sure to declare all the pre-existing conditions.

Buy Dedicated Plans

While travel insurance can be purchased as family floater policies or individual plans, it is recommended to buy dedicated plans such as senior citizens' or student's travel insurance for specialised coverage. Some insurance providers also offer impressive discounts for specific buyers.

Conclusion

The best time to get travel insurance is soon after finalising your journey and booking your flight tickets. It helps you benefit from the trip cancellation coverage and may also ensure smooth visa processing.

Moreover, it is advised to avoid the last-minute rush of buying a travel insurance policy. This can result in missing out on something that is not covered by the policy. So, if you have booked your flights, follow the steps to buy travel insurance and purchase a suitable policy.

Reliance International Travel Insurance: Stay Financially Secure Abroad

If you have not found perfect travel insurance yet, there is no need to go anywhere. Reliance General Insurance offers comprehensive travel insurance plans that keep you financially secure during unforeseen emergencies overseas.

Our international travel insurance policies offer a higher sum insured at affordable premiums to help you mitigate exorbitant medical expenses abroad. Additionally, we cover trip cancellations, baggage loss/delays, theft, personal liabilities, accidents and whatnot.

With all these benefits, you can be assured of 100% claims settlement* and a smooth settlement procedure.

Frequently Asked Questions?

Should I buy travel insurance before or after applying for a visa?​

You should buy travel insurance before applying for your visa. If travel insurance is mandatory for your destination, your visa will not be processed until you submit your policy papers. In fact, having travel insurance can expedite your visa processing even for nations that do not require it compulsorily.

Is travel insurance mandatory for visiting foreign countries?​

Not every foreign country, but travel insurance is mandatory for visiting some of the most popular global regions such as Schengen Area countries (Switzerland, Italy, France, Iceland, etc. ), the United Arab Emirates, Qatar, Thailand, Russia, etc.

Even if travel insurance is not mandated, investing in a reliable travel plan is strongly advised to ensure your financial security abroad.

What is the validity of travel insurance plans?​​

The validity of travel insurance depends on the type of plan you choose. Single-trip plans are valid for the specified duration of your travel. On the other hand, Annual trip plans are valid for a year or 12 months from the date of purchase.

How long does it take to buy a travel insurance plan?​​

Buying travel insurance does not take much time if you buy online from your insurance provider's website. You can instantly buy our travel insurance plans via our website or Self-i application. You can also benefit from zero paperwork and no medical screening. Get your quote online!

Disclaimer:

Claim settlement Ratio: This is the overall claim settlement ratio for FY 2023-24 without claim outstanding at the start of the financial year as per public disclosure of Reliance General Insurance Co. Ltd.