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Understanding Your Travel Insurance

Posted on: August 12th, 2020

While many of us have enjoyed staycations this summer or ventured only to our neighboring provinces – airlines are now promoting sunny destinations and providing increased flight schedules with flexible cancellation policies. While this can be tempting given the travel restrictions in recent months and increased clarity on Covid-19 numbers and protocols, it is important to understand your travel coverage before booking travel.

Travel Insurance can be available through your employee benefit plan, by purchasing additional personal travel coverage and is offered through many personal credit cards. However, many insurers have made restrictions to their travel coverage considering the Covid-19 pandemic. Read below for some Travel Insurance information before booking your next trip!

  • Travel Insurance can be divided up into two major categories. Trip Insurance: commonly referred to as trip cancellation insurance, and Travel Medical Insurance, which provides coverage for medical emergencies. These types of plans may offer different levels of coverage, or no coverage at all for COVID-19, depending on a number of factors – including when you purchased the plan.
  • Group Benefit Plans have a built in Out of Country Emergency Medical benefit – check your booklet as you may not need to purchase this type of insurance. It is also good for traveling with in Canada in case you get sick in another province. Usually this does not include trip cancelation or baggage loss.
  • Are you a Canadian resident? Most provincial or territorial health insurance plans only cover expenses within your home province or territory. With travel insurance, you are protected wherever you go.
  • Due to the recent restrictions placed on travel you should always check with your provider before traveling to make sure you have coverage. Different Insurers may not cover out of Canada travel – this is an important consideration if you contract Covid-19 at your destination.
  • Each destination has different activities and risks. Travel Insurance helps protect against the unexpected. A primary incentive to get travel insurance can be for the emergency medical assistance. Without these benefits, you can easily spend over $10,000 out-of-pocket for treatment and transportation expenses.
  • When you are experiencing a medical crisis during your trip, such as trauma, broken bones, heart attack, and strokes; when you have travel insurance, you can call for help in an emergency. Your insurer will be able to arrange payment in advance for covered emergency medical care.

Reach out if you want more information on your providers Travel Insurance coverage.

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