Can you buy travel insurance at the last minute? The quick answer is yes. But even though it’s possible, it may not always provide you with the coverage you need. If you get sick or a hurricane pops up and you haven’t yet bought travel insurance, you won’t be covered if you have to cancel your trip.

That’s why it’s generally better to buy travel insurance earlier — ideally soon after you book your trip. This will give you the longest period of coverage possible, for no extra cost.

So, are you out of luck if you haven’t purchased insurance yet? Not necessarily. Here are some considerations to take into account if you’re thinking of buying last-minute trip insurance.

What does travel insurance cover?

Travel insurance protects you when your trip doesn’t go as planned. Mishaps like delayed flights, lost baggage, medical emergencies or severe weather don’t have to cost you if you have insurance coverage. And the protection isn’t only financial — some plans offer additional benefits like lost passport assistance or legal referrals.

However, travel insurance isn’t a perfect safety net, and it does have exclusions. There are a lot of caveats that could keep you from being as fully protected as you think, especially if you wait to purchase until the last minute.

For example, some policies may not include trip cancellation insurance if you buy it within 48 hours of a trip, according to VisitorsCoverage.com. And those with pre-existing conditions may not be covered for certain medical issues if they don’t buy a policy soon after booking.

If you’re not sure what you need coverage for, websites like InsureMyTrip provide a variety of options that cover a range of events, including extreme weather, flight delays, illness or even death.

When does travel insurance coverage begin?

When you’re covered by your travel insurance plan depends on what type of plan you purchase.

If you buy a plan that includes trip cancellation coverage, policies typically go into effect at midnight the day after you buy the policy. That way, even if your trip is two months away, you’ll be eligible for a refund if you need to cancel your trip before then for a covered reason.

All other travel insurance benefits don’t take effect until you actually leave your home to start your trip. So, if you purchase travel insurance at the last minute, you’ll still be able to use most of the benefits aside from trip cancellation.

However, some insurance providers require a policy be bought within a certain time frame after booking your trip. Or, there may be limitations on coverage for certain claims, such as treatment for pre-existing conditions.

Keep in mind that insurance is for unexpected events, so if you decide to buy it at the last minute because you start to feel sick or a hurricane is about to barrel through your destination, don’t expect to be covered.

Make sure you’re aware of any deadlines or exclusions of policies you’re interested in before making a purchase.

How long do you want the protection to last?

Travel insurance can protect you in instances of terrorist attacks, weather disruptions or family medical issues — even before you leave on your trip. But, that coverage depends on when you buy your insurance.

If you buy it when you book your trip, you’ll be covered in the event that something happens anytime before your departure. If you wait until the last minute, you won’t receive as much protection.

If what you want is a safeguard against nonrefundable expenses, the more time you’re protected, the better. This also means you’re getting more value by buying your policy as soon as you pay for your trip, rather than waiting until just before it starts.

What coverage do you miss out on by buying at the last minute?

There are some types of coverage that aren’t available when you purchase at the last minute. You’ll need to plan ahead if you want the following travel protections.

“Cancel For Any Reason” insurance

Cancel For Any Reason, or CFAR insurance allows travelers to cancel their plans for any reason and receive a partial reimbursement of nonrefundable travel expenses.

To be eligible, it must be purchased soon after booking your travel, often within just two to three weeks. After that deadline, which can vary by insurance company, it’s no longer possible to buy this type of “catch-all” plan.

This is also one of the only plans that would partially cover upfront expenses if you need to cancel due to COVID-19 concerns, fear or flying or other non-covered reasons.

Pre-existing medical coverage

If you have pre-existing medical conditions that could lead to a potential trip disruption, it is advisable to have insurance to protect you. That way if a health issue pops up before or even during your trip, you have a backup plan.

Many insurance companies do offer coverage for pre-existing conditions, but most require you to qualify for a pre-existing medical condition waiver. One requirement of these waivers is purchasing your policy within a specified time frame following booking, typically within two to three weeks.

If you purchase your policy after this time frame, you may be out of luck if you need to cancel your trip due to existing medical complications, or if you need treatment for your condition when you’re traveling. Any emergency medical coverage on a travel insurance plan would have to take into account pre-existing conditions that were disclosed at the time of purchase.