08:07 ETData: Travelers Waiting Too Long to Buy Insurance

New data shows nearly half of insured travelers purchase too late for time-sensitive benefits , /PRNewswire/ -- As peak summer travel season approaches, new data from InsureMyTrip reveals a critical mistake many travelers are making: waiting too long to purchase travel insurance, ultimately missing eligibility for valuable time-sensitive benefits like Cancel For Any Reason (CFAR) coverage. CFAR is an optional upgrade that allows travelers to cancel their trip for reasons not typically covered by standard insurance policies, offering maximum flexibility during uncertain times. However, this benefit is only available if travelers purchase their plan within a limited window, typically 10–21 days after their initial trip deposit. When all eligibility requirements are met, it can reimburse up to 75% of prepaid, non-refundable trip costs. Despite strong early interest, many travelers are missing that deadline: 2025 Full Year: 64% of quotes were generated within the time-sensitive window 52% of policies were purchased within the window 2026 Year-to-Date: 66% of quotes were within the window Just 54% of policies were purchased within the window This means that nearly half of travelers buying travel insurance are doing so too late to qualify for CFAR and other early-purchase benefits, a trend that becomes especially relevant as summer trips are booked months in advance, but insurance decisions are delayed. "Summer is one of the busiest travel periods of the year, and travelers are spending more on trips than ever before," said InsureMyTrip CEO Suzanne Morrow. "But many are waiting to purchase travel insurance, not realizing that this delay can cost them access to the most flexible coverage options available." Peak Season, Higher Stakes From family vacations and cruises to international getaways, summer travel often involves significant upfront costs and longer planning timelines. That makes CFAR particularly appealing, as it provides partial reimbursement even if travelers cancel for reasons outside standard coverage. However, the data suggests a disconnect: while travelers are actively comparing plans early in their booking journey, many postpone their purchase — pushing them outside the eligibility window. More Than Just CFAR Missing the time-sensitive window doesn't just impact CFAR eligibility. Travelers may also lose access to other important benefits, including: Coverage for pre-existing medical conditions Financial default protection (in some cases) Broader cancellation protections What Travelers Should Do Now With summer travel fast approaching, InsureMyTrip advises travelers to consider purchasing travel insurance shortly after making their first trip payment to ensure access to the widest range of benefits. Media Contact:Victoria Sampley[email protected] About InsureMyTripYou like options. We do too. It's simple. InsureMyTrip finds you the right travel insurance plan, every time. InsureMyTrip is the authority on travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise. InsureMyTrip is rated A+ by the Better Business Bureau. SOURCE InsureMyTrip.com