If you are pre-paying for flights, hotels, or tours, or if you are traveling overseas, travel insurance helps protect your money in case something unexpected happens. It gives you peace of mind for things outside your control.

Buy it as soon as you book your trip. Some benefits are only available if you purchase the policy shortly after your first trip payment, usually within two to three weeks.

It is usually better to buy your insurance separately. Coverage from tour operators often only protects the parts of the trip you booked through them, and may exclude flights, hotels, or other costs. Also, check that your policy includes protection for provider insolvency, in case your tour company or travel service goes out of business before your trip.

Usually, you cannot buy travel insurance once your trip has started. You also cannot get coverage for anything you were already aware of when applying. If a problem has already come up, it will not be covered. Some policies may limit coverage if you have already paid in full, rather than just a deposit.