Travel Insurance Plans
Travel Insurance plans for the best travel experience
Before you hit the road or take to the skies, make sure you have a good travel insurance policy in place
Travel insurance is a must if you’re going on vacation. Before you leave, let HealthRates.ca help you find great rates on a policy that suits your needs.
Everyone deserves a break occasionally. We often dream about jetting off to an exotic locale to enjoy some fun in the sun and get some much-needed rest and relaxation. But before you leave town, don’t forget to pack your toothbrush, your swimsuit, your passport, and your insurance policy.
Sometimes, unexpected things happen while you’re on vacation. For example, you might fall ill or suffer an injury. Those situations will most likely land you in a hospital, and when all is said and done, you’ll be left with a hefty bill to pay. With a travel insurance policy in place, you will be able to cover these and other emergency medical costs.
Read on to get answers to some frequently asked questions about travel insurance in Canada.
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What is travel insurance?
Travel insurance or travel policy provides you with coverage for unexpected expenses incurred while you are traveling abroad. It can be used to cover non-refundable expenses, such as hospital stays, emergency transportation needs, doctor’s fees, lost luggage and more.
These expenses often come at a heavy cost in foreign countries, and your travel insurance plan is designed to cover or offset these costs.
Why should I get travel insurance?
If you are vacationing in a foreign country or going on a cruise and will be gone for an extended period, travel insurance is a must. You are essentially purchasing it to ensure the unknown, as injuries, medical emergencies and lost luggage are all unforeseen circumstances. In the event that you do find yourself in one or more of these unfortunate situations, your travel insurance policy will help to cover the costs and fees involved.
To straightly answer the question ‘should I get travel insurance?’ Definitely yes.
Having travel insurance is like travelling with peace of mind and memorable travel experience.
When should I not get travel insurance?
There are some instances where travel insurance may not be required. For example, some major credit cards offer travel insurance as one of their membership benefits. If you are travelling domestically, such as within your country or province, and you already have health insurance, you may not require travel insurance.
Another situation where travel insurance is not required is when you are flying to your destination. If you encounter issues with the airline, such as flight cancellation, the airline may book you on the next available flight or offer you compensation. In July 2019, the Canadian government approved new rules for airline passengers’ rights, and those rules could provide you with further compensation if something goes wrong.
What types of travel insurance coverage available in Canada?
There are two main types of travel insurance in Canada:
Trip Cancellation Insurance
The most basic form of travel insurance available, this policy provides coverage for lost luggage and compensation if you miss a connecting flight or cannot travel due to illness or injury.
Comprehensive Travel Insurance
As its name implies, this product offers more coverage. In addition to the coverage provided by trip cancellation insurance, comprehensive plans cover emergency medical expenses and medical evacuation, in addition to accidental death coverage.
How much is travel insurance?
As is the case with most insurance products, the cost of travel insurance often varies. However, the average cost for travel insurance usually ranges from between 4 and 10% of the value of your trip. Your insurer will also consider the ages of the travellers, the length of your trip, the number of people travelling with you and the type of coverage you require when determining the cost of your policy.
Where to get travel insurance?
Travel insurance is provided by most major insurers in Canada. In addition, some credit card companies offer built-in travel insurance for cardholders. Be sure to consult with your insurer or credit card provider for additional information about plans and coverage.
Here at HealthRates.ca, you can get multiple quotes to compare rates for different policies and providers before making a final decision.
Get Informed, Get Insured
There are many travel insurance policies and insurers to choose from in today’s market, and our goal is to help make your decision easier. We have partnerships with major insurance providers and would be glad to discuss your travel coverage options with you. For more information, please contact us today.