Travel insurance is a coverage designed to protect the traveller financially in the case of unforeseen travel interruption such as injury, illness, or death. It is usually purchased as an add-on provided by many travel providers or by the traveler themselves at financial institutions. There are two main types of travel insurance coverage: travel medical insurance and trip protection insurance.
Why Do I Really Need Travel Insurance?
Anyone travelling of of Canada or even out of province should get travel insurance.
Travel Medical Insurance
No one expects to become ill or injured while on vacation (or even a work trip), but accidents can happen any time – if you’re travelling out of Canada or out of province, it’s very important to ensure you’ll be covered should something happen to our health.
stay, drugs and extras such as crutches. Even if you’re travelling within Canada, your provincial health dental insurance care may not cover you if you get injured or become sick when out of province. You may be billed if not properly insured.
Trip Protection Insurance
Trip protection insurance provides financial coverage for losses incurred in the case of unexpected delays or cancellations. This includes cancellation coverage, which ensures you’ll be reimbursed for prepaid expenses if you cancel your trip due to illness or in the case a family member becomes seriously ill or dies.
Delay coverage will cover you financially for costs as a result of unforeseen delays such as cancellation due to weather, re-booking travel, or accommodations while waiting for a replacement flight. Some coverage may even cover you if your travel agent goes out of business.
If your luggage is lost, stolen or delayed, this coverage will cover the costs of the lost items, and any replacement purchases.
Types of Travel Insurance Coverage
Travel insurance for Canadians may be purchased as single trip coverage, which provides covers up to a certain dollar amount, or annual trip coverage, which may cover multiple trips. Often, a combination of medical travel insurance and trip protection insurance coverage can included in a single policy.