Why You Need Travel Insurance for your Summer Vacation
Summer has finally arrived for good, and many families will be taking the opportunity to travel for a vacation. Whether it’s a trip to see relatives in Quebec, or a family vacation to Europe, the last thing you would want is to be left on the hook for costly medical expenses, or unused accommodations while outside of Ontario.
Travel insurance is one of those things that you hope you’ll never have to use. But just a little bit of peace of mind can go a long way toward allowing you to enjoy your vacation to the fullest.
Types of Travel Insurance
There are three broad categories in terms of the types of travel insurance generally offered in Canada.
Medical Insurance: Imagine falling ill or getting injured while on vacation in the United States. Without insurance, you’ll be left on the hook for some potentially massive bills for any hospital visit. But travel medical insurance is not just for trips outside the country; even if you’re in other provinces, your emergency medical expenses may not be covered by your provincial plan.
Cancellation or Interruption Insurance: Imagine that you have to come back home before your trip was scheduled to end, or even worse, you find out the day before you travel that you can’t go on the trip at all. Make sure you’re not left on the hook for expensive hotel rooms, flights, and the like.
General Travel Insurance Package: These types of packages are more inclusive, and can cover medical expenses, cancellations, as well as things like lost baggage.
Weighing Your Options
Once you’ve determined what type of coverage is ideal for your needs, here are some other things to keep in mind, to ensure that you get the most out of your travel insurance, and have the protection you require.
• You have to declare any pre-existing medical conditions when applying for travel insurance. As an example, let’s say that you have an ongoing medical condition, such as kidney stones or high blood pressure, and require medical attention for the condition while traveling. If you didn’t declare the pre-existing condition, the policy likely won’t cover expenses relating to your treatment.
• If you are a frequent traveler (for example, you’re often traveling for business), you may find that it makes more sense to look at an annual, multi-trip policy.
• Some credit cards have some form of travel insurance on them – but before you say, “I’m covered on my card,” review your exact card’s insurance information carefully. Credit cards sometimes have small limits on their insurance which may not be sufficient for your needs.
• Many travel insurance agencies offer 24/7 assistance around the world. It’s always nice to know that if you need help or guidance, your call will be picked up, regardless of any time differences.
• If you plan on partaking in some activities that are considered ‘riskier’ – hang-gliding, parasailing, or horseback riding, for example – make sure that you are covered for these before setting out on your trip. Some policies do not cover your participation in activities like these.
• READ YOUR POLICY. Combing through fine-print is not most people’s idea of a good time, but this is one instance where it pays to be informed and know exactly what you’re covered for.
Ready to look at your travel insurance options? Oegema , Nicholson & Associates will work with you every step of the way.
Contact us today or click “Get a Quote” at the top of this page to make sure that you’re protected, and start crafting a policy that fits your needs perfectly.