Here are five reasons why you should buy travel insurance early.
#1 If you wait until an unforeseen event, like a typhoon, to hit before you get a plan, you probably won’t get coverage for losses due to the storm
Videos and articles about the Hong Kong protests are all over our Facebook news feeds. If you had purchased travel insurance before the issue blew up, then good for you! Your insurer will probably cover your airfare and accommodation expenses if you decide to cancel your trip now. But if you’re still going ahead with your holiday to dim-sum land because you’re sure you won’t be anywhere close to the main protest areas, you should still get travel insurance to protect you against the costs of common ailments such as the flu or stomach upset which can happen. It’s important to note that any claims arising directly or indirectly due to the protests (or such political events) will not be covered by the insurer.
P.S.: Aviva’s Travel Prestige plan allows trip cancellation for any reason, so you’ll get compensated 50% of what you’ve paid for any unused flight tickets, accommodation and entertainment tickets.
#2 It gives you coverage should an airline, hotel or travel agency go bust
So you’re all set for your holiday but you have just read a report that your travel agency has gone bust? Travel insurance protects you against such circumstances but again, you’re protected only if you purchase the insurance before the news hits the local papers.
#3 You can get a refund of travel expenses even if you fall ill before your trip
If you think that travel insurance only covers your illness-related expenses only if you fall ill overseas, you’re wrong. Should you fall sick before your trip and are too weak to travel, your doctor’s memo is enough for the insurer to give you a refund of expenses you’ve incurred for your trip.
#4 To secure full coverage and maximise your money
For most insurers, there’s likely a cut-off date for you to secure full coverage. For example, in order to utilise the benefit of Aviva's trip cancellation for any reason, you’ll have to purchase travel insurance within 7 days upon payment of your flight or accommodation. Therefore, your best bet is to have a good habit of insuring yourself after your trip confirmation!
#5 You won’t have to pay a higher price for it
Unlike airfare and accommodation prices which tend to fluctuate, the premiums for travel insurance are quite constant so you won’t lose out even if you purchase it earlier. In fact, if anything happens, you’ll be thankful that you did!