If you are considering traveling this holiday season or are planning on escaping the cold this winter
I’m sure it’ll get cold soon enough, you might want to consider the benefits of travel insurance as part of your pre-planning. Travel insurance policies can be bought to include multiple trips in one year, or just a single vacation, and are also available for individuals with pre-existing conditions. Some of the most important coverages provided are:
Protect yourself against unexpected illnesses or injuries while you’re away from home. Ideal for Canadian residents traveling outside of their home province or to other countries, even if it’s only crossing the boarder for an afternoon of shopping. Includes such things as doctor’s services, ambulance services, x-rays, prescription drugs, and essential medical supplies.
This coverage is usually an extra or part of an all-inclusive package, you may even have purchased this coverage when you book an online vacation – it’s always good to check. This coverage includes payment for lost, damaged, destroyed or stolen baggage and personal effects. It may even include coverage for stolen currency, or payment for personal necessities if your baggage is delayed.
Trip Cancellation or Interuption
If you need to cancel your trip before your scheduled departure, or your trip is interrupted while you’re already on vacation, this coverage reimburses for non-refundable prepaid travel arrangements that can’t be covered from another source. Some of the situations were you can claim coverage from are:
- You or your travelling companion experience an unexpected sickness, injury, or death
- Natural disaster or unforeseeable event that makes your home unlivable
- Travel advisory
- Travel visa denial
- Job loss
- A cancelled flight or missed connection due to weather
- A schedule change that causes a missed connection
- Pregnancy complications occurring within the first 31 weeks
Travel insurance policies can cost as little as $55 for a one time fee, depending on your age, pre-existing conditions, length and location of trip, and what coverages were purchased. It’s a small price to pay when considering the outcome of a medical emergency in a foreign country.
In a recent article on insurancehunter.ca, Neil Nickel, a 68 year-old from Manitoba traveled to South America without buying travel insurance, since he assumed he wouldn’t be able to obtain coverage due to a pre-existing condition. He suffered a ruptured intestine and a stroke while away. After stabilizing Neil was finally able to come home, however he needed to pay for his $68,800 air ambulance service, plus $25,000 for medical and hospital bills. This terrible financial situation for Neil could of been avoided with the purchase of travel insurance.