1 in 4 people buy travel insurance on the day they go on holiday – what are the risks?

More than a quarter of holidaymakers (27%) wait until the day they're going away to buy travel insurance, according to research by Go Compare.

A further 26% buy it the week they go on holiday, meaning many travellers are leaving it late to secure cover.

But does it really matter when you buy your travel insurance, and does buying later result in a more expensive premium? We take a closer look.

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When do people buy travel insurance?

According to Go Compare’s data, many holidaymakers leave their travel insurance until the last minute, with more than half arranging cover within a week of their trip.

Here’s how travel insurance purchases compare between 2024 and 2023:

While the number of people buying insurance on the day of travel has dropped by 6% compared to last year, a large proportion of travellers still arrange cover at the last minute.

• Find out more: best travel insurance companies and policies 2025

What are the risks leaving it late?

Buying travel insurance at the last minute might not seem like a big deal, but it could mean missing out on important cover. 

Travel insurance isn’t just there for when you're on holiday, it can also protect you against issues that arise before you leave.

Here are some things to consider if you delay buying a policy:

• No cover for pre-departure cancellations: travel insurance can cover unexpected cancellations due to illness, injury, or family emergencies. However, if you only take out a policy on the day you fly, you won’t be covered for anything that happens before then, meaning you could lose out on non-refundable costs. According to Multitrip.com, 21% of travel insurance claims are for holiday cancellations, meaning something went wrong before the trip even started.
• Limited protection for pre-existing medical conditions: if you have a pre-existing medical condition, some policies may have waiting periods or require advance purchase for full coverage. Buying late could mean fewer options or restrictions on what’s covered.
• Less protection if a travel provider collapses: some policies cover airline or travel company failures, but this protection is usually only available if the policy is in place before financial trouble arises. Leaving insurance too late could mean you aren’t covered if your airline or holiday provider cancels your trip.

It’s also worth noting that cancellation claims aren’t always due to personal illness. 

Multitrip.com found that 32% of cancellation claims were due to a travelling companion’s illness or injury, 13% were related to the death of a non-travelling relative, and 8% involved the illness or injury of a non-travelling relative.

• Find out more: best travel insurance if you have a medical condition

Is buying travel insurance at the last minute more expensive?

Unlike flights or hotels, travel insurance prices don’t typically change based on when you buy, but leaving it late can affect the options available to you. 

With more time to compare policies, you may have a wider choice of cover that better suits your trip.

Some insurers limit availability for late buyers, so if you need cover for certain activities or have a pre-existing medical condition, you might find fewer suitable policies.

• Find out more: how to claim on your travel insurance

How far in advance should I get my travel insurance?

The latest you should buy travel insurance is the day you book your trip. This ensures you’re covered immediately if something unexpected forces you to cancel before you travel.

While travel insurance doesn’t technically start until the day you depart, cancellation cover kicks in as soon as you take out the policy. If you leave it too late, you won’t have this protection.

If you have an annual policy, you may already be covered, but it’s worth double-checking that it applies to your destination and trip length. 

• Find out more: best travel insurance for over 65s

Forgotten to buy travel insurance before departure?

Some insurers offer post-departure travel insurance, known as ‘already travelling’ insurance. This can be useful if you forgot to buy a policy before you left or realise your cover has expired.

You won’t be covered for anything that’s already happened. If your luggage has gone missing or you’ve had medical treatment, you can’t take out insurance and claim after the fact. Travel insurance only covers unexpected events, not ones that have already unfolded.

Buying a policy once you’ve started your trip is possible, but it’s not ideal. You might find fewer options, higher prices, and stricter checks to make sure you’re not claiming for something that happened before you were insured.

• Find out more: the Ehic and Ghic explained