What is the latest date I can purchase travel insurance? Published by Chris Harvey November 25, 2008 Most travel insurance policies can be purchased up to the day prior to departure. A few plans will allow purchase on your departure day, however the policy is not effective until the day following purchase. Related articles: Does the financial default benefit cover me if I go bankrupt and can no longer afford to take the trip? Won’t my existing health insurance cover me when traveling overseas? When is the best time to buy travel insurance? Will trip cancellation cover the cost of day tours? Should I include this in my trip cost? Why are some travel insurance policies so much cheaper than others?