When is the Best Time to Buy Travel Insurance?

Traveling can be costly, and unexpected events can disrupt your plans. This is why knowing the right time to buy travel insurance is crucial.

A piece of paper with the text "Are you covered?" on a typewriter.

Traveling can be costly, and unexpected events can disrupt your plans. This is why knowing the right time to buy travel insurance is crucial. It helps protect you financially if something goes wrong before, during or even after your trip.

Buying travel insurance is like casting a financial safety net for travelers. It covers various issues that might arise, especially those you are unable to control. This includes things like getting your money back if you need to cancel or reschedule your trip, getting covered for emergency medical expenses, and assistance if your belongings get lost or damaged.

But before we answer the main question, here's a clear rule: Don't wait until after you have started your trip to buy travel insurance.

Now, let's get back to the main question: When is the best time to buy travel insurance?

It is recommended to purchase Generali Malaysia's travel insurance right after you have locked in your travel arrangements. Alternatively, the next recommended purchase period is at least 14 days before you depart for your overseas trip.

Contrary to common assumptions, the cost of overseas travel insurance will not fluctuate or increase as your departure date approaches. The premium you will be quoted depends on the destination you are visiting and the duration of your trip.

Does that mean overseas travel insurance can be purchased a day before departure?

A man sleeping on an airport bench with his face covered with a denim jacket. His brown luggage back is next to him.

Sure! However, as a responsible insurer, Generali Malaysia strongly advises you to purchase your overseas travel insurance coverage at least 14 days before the actual departure date, as some travel insurance benefits will be activated immediately after the purchase and qualify you for certain reimbursement even before your trip begins.

For example, if conditions are met, Generali travel insurance will reimburse you for the loss of non-refundable, non-utilized, and/or non-transferable deposits or charges paid in advance for your trip, including but not limited to the trip package, entertainment ticket, accommodation and more.

Therefore, by buying overseas travel insurance early, you are protecting yourself from potential monetary losses if you have to cancel your trip. This benefit even extends to trip postponement, not just for a canceled trip, due to reasons beyond your control, as listed in the policy wording or policy contract.

Does travel insurance have a time limit?

Yes, travel insurance does have a time limit, also known as the coverage period. The coverage period covers the length of trip that it is bought for when you travel overseas, including the day when your travel commences in Malaysia and the day upon your return to Malaysia from your trip.

A helpful fact you may not know you need is the coverage period for each single-trip travel insurance policy cannot last more than 190 days in a row, including if you are visiting multiple countries in one trip. If you are an annual travel policyholder, each overseas trip you go on must be within 95 consecutive days.

Why do certain travelers choose not to buy overseas travel insurance when they travel abroad?

There can be several reasons why some travelers choose to not purchase travel insurance when traveling overseas:

  • Cost concerns: Overseas travel insurance can add to the overall cost of a trip, and some travelers might prioritize saving money over the potential benefits of insurance coverage.
  • Unfamiliarity with the process: Some travelers might find the process of purchasing travel insurance confusing or time-consuming, deterring them from getting the necessary coverage.
  • Misconceptions: Some travelers may have misconceptions about travel insurance, such as the belief that it is only necessary for expensive trips or that it is not worth buying if you have a good health insurance plan.
  • Lack of awareness: Some tourists might not be aware of the potential risks they could face while traveling, or they might not fully understand the benefits of travel insurance.
  • Short duration getaway: Travel insurance is often associated with longer international trips, and some travelers might skip it for shorter domestic trips or weekend getaways.

However, it is important to remember that travel insurance can provide valuable financial protection in the event of an unexpected event, such as a medical emergency, flight cancellation, loss of personal belongings and documentation, and more.

Empty luggage conveyor belt at an unknown airport.

If you are considering traveling abroad, we recommend that you purchase travel insurance. It is a small price to pay for peace of mind and financial protection.

Here are some additional tips for Malaysian travelers who are considering buying overseas travel insurance for their upcoming overseas trips:

  • Buy your travel insurance early: The price of travel insurance won't increase as your departure date gets closer. But buy your policy early to activate other pre-travel benefits.
  • Read the policy carefully: Before you buy travel insurance, be sure to read the policy wording carefully so that you understand what is covered and what is not.
  • Compare different plans: There are two different travel insurance plans available when you purchase Generali Travel Insurance Online, so be sure to compare those plans to find the one that is right for you.
  • Consider your needs and budget: Travel insurance can be expensive, so be sure to consider including a travel insurance budget when you are planning for your trip.
  • Ask for recommendations: You can ask for recommendations and invaluable advice from friends and family as they may have had prior experience seeking assistance from their insurer while traveling abroad.

Buying travel insurance can be lifesaving when it comes to unexpected travel issues like medical emergencies or trip disruptions.

To figure out if you need to buy travel insurance, just think about your upcoming travel plans – what you will be doing, what could potentially go wrong, and what you may have to pay in advance, that is non-refundable. If you have ticked any of those, then it is a good idea to buy travel insurance before your trip.