Five Costly Travel Insurance Mistakes to Avoid This Summer

The most frequent error, according to St. Petersburg-based marketplace Squaremouth, is delaying the purchase of a policy. Key benefits such as Cancel For Any Reason (CFAR) and pre-existing medical condition waivers are typically only available within 14 to 21 days of the initial trip deposit. Waiting until the week before departure effectively disqualifies travelers from these critical protections.

Many consumers are also opting for limited plans to cut costs, ignoring comprehensive coverage at a time when standard policies often fail to account for geopolitical instability or government shutdowns. Relying solely on credit card protections is another frequent misstep; while useful for minor luggage issues, these cards rarely cover the full cost of a luxury or family trip and often lack robust emergency medical provisions. Furthermore, the assumption that domestic travel requires no protection ignores the reality that flight cancellations and severe weather can jeopardize a $6,000 investment just as easily as international travel. As Chrissy Valdez, Senior Director of Operations at Squaremouth, notes, the optimal window for securing coverage is the day the first deposit is made.