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Travel Insurance for Canada [What You Must Know]

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Travel Insurance for Canada – With the outbreak of the COVID-19 pandemic, it has become important that you get a travel insurance plan whether you are traveling to, from or within Canada because you don’t know what to expect on the road. Since you cannot predict what happens on the road, it becomes necessary to have a travel insurance cover and this insurance doesn’t just cover you when you get sick on the journey but also covers any damages or loss of any belonging you are traveling with. The travel insurance is to cover any unexpected cost or emergency that may occur on your way.

Living in Canada means that you already have your healthcare insurance coverage but traveling outside Canada for any reason will mean that you will have to get travel insurance cover as your healthcare insurance cannot be extended outside Canada.

What Does Travel Insurance Cover?

You should also know what a travel insurance cover so that you will see how important it is and why you would need one whether in or outside Canada.

  • Medical emergencies, especially for a broken bone or burns, can be covered for up to $10 million
  • Acts of terrorism are covered for up to $35 million
  • Baggage Loss or damage is covered for up to $3,000
  • Baggage delays are covered for up to $1,500
  • Trip cancellation or even trip interruptions are covered for up to $6,000 per insured trip
  • Flight accidents are covered for up to $25,000

Why You Need A Travel Health Insurance

The importance of having a travel health insurance cannot be overemphasized and knowing you have this insurance while traveling gives you a level of peace and calmness and to if you don’t see why you should have this insurance, after looking at the points we will be highlighting below, you will see the reasons it is important especially if you are travelling outside Canada.

Without further ado, let’s proceed…

  • The Canadian government will not pay for your medical bills.
  • Since your healthcare insurance doesn’t cover you when you are outside Canada, your travel health insurance will provide you will the necessary health cover
  • Getting treatment outside Canada might be expensive especially in private hospitals and so you will need this travel insurance cover
  • You might not be attended to in many countries if you cannot pay a deposit for your hospital bill and so your travel insurance can give you cover in this case.

Where Can You Get Travel Insurance?

Since getting your travel insurance is very important, we won’t leave you in the dark as we will be showing you some of the places you can get travel insurance. Some of them are:

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  • Insurance broker
  • Credit card company
  • Travel agent
  • Employer’s insurance provider

What you should know and enquire about when purchasing a travel health insurance

Travel insurance varies and differs depending on the terms and condition, exclusions, requirements and limitations and since they are different travel insurance covers for you to pick from, here is what you should know and enquire about before purchasing a travel health insurance:

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  1. Some plans have limits to the countries they can cover and so you should make enquiry to know if the cover is extended to the country you want to travel to.
  2. You will be at peace if you know that your travel insurance company is ready to cover you at all times because this is what a good insurance company does and so you will have to know if the travel insurance company has an emergency line that you can reach any time and any day.
  3. Most travel insurance comes with deductibles set at different amounts and so if you are purchasing 100% coverage, you are to expect more and you would also save more in a long run. So it would be wise to ask if there are deductibles and how much it cost.
  4. When purchasing a travel insurance plan, you should purchase the plan that covers you for the duration you will be outside Canada. So you should ask if the coverage will last for the time you would be staying outside Canada.

How Much Does a Travel Insurance Plan cost?

There is not fixed cost for the travel insurance plans as each of these plans are determined by some factors like age, the plan you choose and also duration of the plan. So these factors are what determine the rates. Also it is seen that travel insurance goes with the trip cost and so it can also depend on the amount you pay for your trip as it takes about 3% to 10% of the total trip cost.  

Factors that May Influence the Travel Insurance Rates

  • Age

The age of a person surely affects the amount you pay for your travel insurance coverage as the older you are, the more you pay compared to a younger person. Also in some cases, you might be allowed to add a minor to your plan with little or no additional cost.

  • Duration of Travel

The duration of time you want to spend outside Canada will determine the price of your travel insurance plan as the longer the time, the more exposed you are to risk and so you will have to pay higher if you staying longer.

  • Number of persons traveling

Also, the number of persons traveling also influences the amount you will pay for your travel insurance plan as the more the persons that are traveling, the more money you will pay for the insurance as there is more risk when many persons are traveling.

What Type Of Travel Insurance Coverage Should I Choose?

There are a lot of travel insurance coverage packages you can choose from and they all have their requirements and prices too. For you to have an enjoyable and sweet travel experience, you should ensure you get a travel insurance plan that you bring you a level of peace and calmness as you travel.

You should also try to know and understand the policy, terms and conditions of the travel insurance company and also the policy.  

READ ALSO: How Much Can I Make Working in Canada?

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