When can you subscribe to your travel insurance?
You can subscribe to travel insurance up to the day before your departure, expect for policies that cover cancellation benefits.
If you wish to subscribe to a policy that includes the cancellation benefit, you must subscribe before the date the cancellation fees form the tour operator become applicable. The cancellation penalties applied by the tour operator correspond to the amount that will not be refunded in case you cancel your trip.
In just a few words, the closer your departure date, the smaller the refund from the travel agent. With online travel agents or airlines, the penalty is 100% from the date of purchase. If something comes up five minutes after you have made the payment, you will lose the lot. The cancellation insurance allows you to get a refund for the fees charged by the tour operator.
- You purchase a one week trip to the Seychelles for €1,500. One week before you are due to depart, you must be hospitalised following a fall. You have a broken leg and you cannot travel. The penalty charged by the travel agent is 75% of the cost, which means you lose €1,125… They are nice people, so they give you a refund for €375… The cancellation insurance refunds the penalty, that is €1,125. In the end, you have not lost a cent, that’s a great reason to enjoy a holiday in the sun!
- You purchase a plane ticket to go to Rome next week for €250. The day after your purchase, you’re stuck in bed with a bad flu. The penalty amounts to 100% of the price of the ticket. You’ve lost everything. The cancellation insurance refunds you the €250.
We recommend you subscribe to the cancellation insurance on the day you purchase your holiday.