What is Travel Insurance?
Unexpected medical bills can devastate your finances. Health insurance doesn’t just help you pay for care, it can protect you and your family financially in the event of unexpected—or potentially expensive illnesses and injuries.
Unpredictable costs can rob your peace of mind. You don’t want to be in the position of adding “money stress” to an already stressful medical situation. Since care costs are so unpredictable, proper coverage can give you definite peace of mind in knowing you are protected from most of these costs.
Why do I need to buy travel insurance?Your provincial Medicare will only cover a small amount of medical expenses incurred outside of your province. If something were to happen while you’re away, you are responsible for paying the difference. If you trip on a beach in Florida, the average cost of non-surgical treatment for a broken arm can be more than $2,500; more than $16,000 if you do need surgery.
Travel insurance can do more for you than just pay your medical bills. If you come down with pneumonia and can’t go on the trip, trip cancellation insurance will reimburse prepaid, non-refundable trip costs. This covers cancellations due to accident, illness, or other serious event of you or your traveling partner.
You can also get coverage for emergency returns, accidental death or dismemberment, air flight accidents, baggage, car rental physical damage, CanAssistance travel assistance, and a medical follow-up in Canada.
What does emergency medical care cover?Medical emergency benefits can cover costs associated with hospitalization, incidental expenses, physicians’ fees, medical appliances, nursing care, professional services when prescribed, diagnostic services, drugs when required, dental care, ambulance services, return to your home province, transportation for a family member to visit you, vehicle return, baggage return, pet return, return of the deceased, and subsistence assistance for when return to the home province is delayed.
What is emergency return coverage?Emergency return coverage will pay for you to travel back to your home province and then back to your travel destination under certain circumstances. This can happen if a family member dies or is hospitalized for more than 7 days or if a disaster destroys your house or business.
What is accidental death and dismemberment coverage?This coverage pays if you accidently die or lose an appendage or eyesight. The compensation will vary depending on your age and the circumstances surrounding the accident.
What is the air flight accident benefit?If you are on an airplane heading towards or returning from your vacation spot and it is forced to land or disappears, this insurance will pay benefits similar to the death and dismemberment coverage. Depending on the severity of the accident the compensation will vary. RE
What is the baggage benefit?This coverage covers your baggage for the actual cash value of the contents if it is stolen, vandalized, or if it disappears. This coverage can also cover the replacement cost for missing passports, driver licences,, birth certificate, and visas up to $150.
What is the car rental physical damage benefit?If you’re on vacation and have rented a car from a rental agency you can have coverage through your travel insurance for damage to the vehicle. If you hit a pole with the rental, this insurance will cover the repairs. This means that you don’t have to purchase additional physical damage insurance from the rental agency. You will still need to purchase liability insurance for damages to other people.
What is the CanAssistance travel assistance benefit?If, after an accident or illness, you need to find a doctor or a hospital, you need to call CanAssistance. They make the arrangements to get you to an appropriate hospital or clinic and make payment arrangements. They’ll confirm that you have insurance, follow-up on your file, return you to your home province, and return your vehicle to your home as well. Not calling CanAssistance can cause the company to refuse to pay your claim.
What is the medical follow-up in Canada benefit?When you’re covered for the emergency medical benefits, this coverage will return you to Canada and reimburse the costs of a semi-private room in a hospital (up to $1,000), fees for a nursing home or nursing assistant when medically required (10 days at $50 per day), costs of medical device rental (up to $150), and cost of transportation to receive medical care ($250) if done within 15 days of returning to Canada.
Do I need a medical to get travel insurance?Generally you will not need to see a doctor to get travel insurance. If you have a pre-existing condition, your travel insurance can cover it if you meet their guidelines. Those younger than 55 with a pre-existing condition have to have been stable for at least 3 months. Those older than 55 with a pre-existing condition have to have been stable for at least 6 months. If you’re 70 years or older, coverage is more personalised.
Some things can limit your eligibility: if a doctor has advised you not to travel, if you have a terminal illness, if you are treating kidney failure with dialysis, it you’ve had and/or treated metastatic cancer in the past 5 years, or if you have been prescribed and/or used oxygen in your home in the past year.
I’m going to stay an extra couple of days, can I extend my coverage?As long as you pay the additional premium it’s very easy to extend your coverage. During office hours you can call your broker to extend your coverage. Afterhours and weekends you can call CanAssistance.
I’ve already left for my trip; can I still get travel insurance?Our travel insurance policies need to be purchased and paid in full before the contract date starts. While you can extend your coverage after you’ve left, you can’t do that for the initial policy.
Do I want an annual plan or a single trip plan?What time of plan to purchase depends on how many trips out of the province you intend to take in a year. If you’re a frequent traveler it might be cost effective to purchase the annual plan. If this is the only trip you intend to take this year, it might be better to get a single trip plan.
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The Guy R Day Difference
You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for... Most insurance products are similar in price and function, insurance providers are very different when it comes to creating a policy that actually covers you.
Contact us to learn more about the right travel insurance for you.