Some people ask if there is any advantage to purchasing a travel insurance policy sooner rather than later. Meaning, should I book my trip and buy travel insurance at the same time, or wait until the day before I leave to get coverage.
There are 2 advantages to purchasing trip insurance as soon as possible
1. You get protection against the financial default of a tour operator, airline or cruise line
This depends on exactly which company you buy from, but in general you will have coverage for financial default. If you purchase a trip from Luigi’s Italian Adventures, and two months later Luigi goes out of business, you would have coverage.
2. The pre-existing medical condition exclusion is usually waived
Again, this depends on the company and plan, but in general the pre-ex exclusion is waived. Read more about Pre-existing conditions here.