Travel Insurance for Travelling Canadians

Travel insurance is a form of protection that protects travellers from paying for potentially expensive financial losses while or in the process of travelling.

These expenses can range from inconveniences like missed accommodation reservations due to a flight delay or replacing personal effects because of lost or missing luggage as well as broader coverage for medical expenses if you get hurt or sick while  travelling.

Different plans have different levels and breadth of coverage, however travel insurance should be an essential part of planning any trip.

Should I Buy Travel Insurance?

Travel insurance is vital for all types of travel, especially when you’re leaving the country and are unsure of the medical coverage provided within the destination  country.

Even if you’re travelling domestically, you can still face travel delays that can cost you money, and travel insurance can protect you from that.

For example, if your flight is delayed and you need accommodation for the night while you wait to get on the flight that’s scheduled for the next day, you will likely be stuck paying for that expense if you don’t have travel insurance.

Travel insurance is even more critical when travelling internationally because international medical bills can be very expensive.

Did You Know?

Out of every 1,000 airline passengers, 5.69 have bags that are mishandled? Travel insurance can make sure you’re not stuck paying to replace the items you need for your trip out-of-pocket.

Travel Insurance Coverage Options

Besides medical coverage, there are a number of additional coverages you can purchase when travelling.

These include:

1. Medical Coverage

This coverage protects you from the expenses you could incur if you fall ill or get injured while you’re travelling. No one wants to neglect their health for fear of medical bills, and travel insurance with good medical coverage means you can rest easy while travelling.

2. Trip Interruption

It’s miserable, but sometimes things happen while you’re away that force you to go home immediately, and last-minute travel arrangements can be costly. If you have the coverage, the cost of new flights and accommodation to get you home as soon as possible will be covered, so you don’t get stuck paying for these costs out-of-pocket.

3. Trip Cancellation

We all try to avoid it but let’s face it, life happens. Sometimes unforeseeable events occur, causing you to miss the trip you’ve planned. Travel insurance plans are available to cover the expenses you otherwise would have lost.

4. Lost or Stolen Luggage

There’s nothing worse than arriving at your destination only to find that your luggage has not arrived with you. Travel insurance plans can cover the cost of replacing the items in your luggage so you can carry on with your travel plans equipped with all the items you need to enjoy your adventure.

5. Travel Delays

While they can be annoying, they don’t have to be costly. While it’s true that the costs associated with some flight delays may be covered by the airline, it’s often difficult to fight that battle, and if you have travel insurance, you usually don’t have to.

Canadian girl travelling in Europe after purchasing travel insurance

Getting / Purchasing Travel Insurance

Purchasing travel insurance is easy.

There are so many providers to choose from – it’s making the decision that can sometimes be difficult.

However, for many people, getting travel insurance doesn’t have to mean calling the banks, insurance providers or other associations you may be a part of.

Some people already have travel insurance coverage, and they don’t even know it.

1. Employer’s Insurance Plan

If you’re planning a trip and are starting to think about travel insurance, your employer’s insurance plan is the first place to look.

Many employer benefit packages include travel insurance plans that will protect you from expensive costs associated with travel like the ones mentioned above.

Be sure to carry proof of insurance from this plan along with you while you’re away.

2. Credit Card

There’s also a good chance that the benefits that come with your credit card include travel insurance.

Most high-end cards as well as many basic ones include travel coverage, so it’s essential to review your documents and get to know all of the perks that come with your specific card.

Most cards require that your travel expenses be charged to the card.

The BMO World Elite Mastercard offers excellent coverage.

3. Insurance Broker

If you don’t have travel insurance coverage from your employer or credit card, you can always reach out to an Insurance Broker to help you decide which provider and which type of coverage will best suit your needs.

You can also visit the website of various travel insurance providers to compare plans and prices and find the best insurance option for you.

With The Co-operators, you can purchase your travel insurance online instantly and be on your way.

Frequently Asked Questions

  • Is travel insurance worth getting?
  • How long is travel insurance valid for?

Samantha Kohn is a marketing and communications professional and freelance writer with expertise in the financial services, financial technologies and automotive spaces.

Sam is an avid dog-lover and former international traveller, and has recently embraced the opportunity to explore more of her home province of Ontario.