Third of holidaymakers buy travel insurance on the day they fly

New data from Go.Compare travel insurance has revealed that almost a third (30 per cent) of those buying travel insurance buy their policy on the same day of travel.

The figures, which look at travel insurance policies bought by holidaymakers during 2023, found that a third of people bought their travel insurance on the day of travel while a further 27% bought their travel insurance policy in the week leading up to their trip.* Another 25 per cent booked it within the month of departure and just 17% of people took out their policy within six months of travel.

While the data shows that a significant number of holidaymakers are buying last-minute travel insurance, it also revealed that couples are the most organised when it comes to their insurance, typically buying their policies 35 days in advance of their travels, compared with 26 days for families and 20 days for individuals. Individuals are also most likely to buy their policy on the day of their travels, with 35% buying travel insurance within hours of take-off, compared with 22% of couples and 24% of families.

According to the comparison site, holidaymakers can also purchase a travel insurance policy when they’re already abroad but in this situation, they may have to buy a specialist post-departure travel insurance, which should provide the same level of cover as a standard travel insurance policy. However, this type of cover is only available from a small number of companies so there will be fewer options and  may be more expensive. It’s also worth noting that if you do buy this policy, you may have to wait 24, 48 or 72 hours before the policy begins, which is an anti-fraud measure introduced by insurers to stop people buying a policy when they’ve already encountered a problem.

Rhys Jones, travel insurance spokesperson for Go.Compare, commented on the said “You can buy travel insurance right up until the point you leave home for your trip, and even at the airport, as long as you haven’t left the UK yet.

“That said, you may find that a policy bought last minute won’t include cancellation cover – and cancellation is one of the main reasons people claim on a travel insurance policy. So in those instances, purchasing insurance right after you start paying for your trip could save you considerable money and stress.”

As well as missing out on cancellation cover, last minute travel insurance could also exclude cover for pre-existing conditions. Rhys continued, “If you have a pre-existing condition that could flare up and cause complications, a last-minute travel insurance policy may not cover it. So while you can buy insurance right up until the moment you travel, it’s often best to get it earlier so that you have more options and more cover available. But generally, the most important thing is that you’re insured, so if the worst happens you have support and protection.”