Secure Travel Insurance
Since the Covid-19 crisis, travel insurance has become more popular than ever. As a result of the pandemic, Canadian travellers encountered high costs and disruptions to their travel plans and wallets.
Travel insurance companies in Canada paid out $950 million in claims in 2020 due to trip cancellations caused by Covid-19. (according to the Canadian Life & Health Insurance Association)? Insured Canadian travellers received nearly a billion dollars in reimbursements for lost flights, cancelled hotel rooms, and missed reservations. Thousands of dollars were lost by those without travel insurance.
You will learn why you might need travel insurance, what it covers, how much it may cost, and how it could help protect your travel plans after Covid-19.
How does travel insurance work?
The coverage you choose and what’s covered by your travel insurance depends on the insurer. The policy typically covers medical emergencies, trip cancellations, trip interruptions, baggage loss or damage, and trip interruptions.
Depending on the specifics of your trip, travel insurance can be tailored to suit your needs. A basic plan covering just flight cancellation may be sufficient for travellers within Canada who already have supplemental individual medical coverage. Alternatively, if you’re planning a skiing trip to the French Alps, a comprehensive medical plan and evacuation back home could ease your mind if you fall while skiing.
Which types of travel insurance are available?
Travel insurance comes in many forms. Among the most common are:
- Have you ever travelled to that Caribbean island or European capital, but your luggage didn’t? This insurance can help you buy essentials if there is a delay or if the item is lost, it can be replaced. Your trip does not have to be ruined by it.
- Your health cannot be priced. It would help if you had emergency medical insurance. This travel insurance protects you if you get injured or sick while travelling.
- Trip cancellation – Have an emergency back home before your trip? If you cannot travel, this coverage will be reimbursed for what you spent on nonrefundable travel.
- Are you missing a connection because of a trip interruption? Is it necessary for you to return home early? You are covered, so don’t worry. The purpose of trip cancellation insurance is the same as trip cancellation insurance; only it protects you during the trip rather than before.
- You looking for an all-inclusive policy that will cover everything? All of the above types of insurance are included in these policies.
The amount of travel you will be doing during the year should also be considered when purchasing travel insurance. Buying coverage for a single trip or an entire year is possible. Travelling twice a year can save you money with yearly plans.