You might be asking yourself, “Why do I need to buy travel insurance?” It’s a valid question. Many people already have travel coverage from different ways: credit card or group benefits. Even travel agencies offer insurance with their flights and vacations.
Frankly speaking, you really might be covered. But what Begin Insurance would like you to ask is: “What am I covered for with the travel insurance that I have?”
Not sure? Let’s take a look at some travel insurance restrictions with the protection you might already have.
Some credit cards specifically cater to travellers. But the card’s travel protection might only be available if you used it to purchase your flight or vacation.
The protection might also be limited to cardholders. So if you purchased the ticket for your parent using the card, your mom or dad might not be entitled for the coverage.
No matter how you buy your travel protection, make sure it extends to accompanying family members. Even with group benefits, don’t assume your spouse and children are covered. Each member might have to purchase individual travel coverage.
The number of days varies depending on your policy, ranging from 3 to 10 days or more per trip. Check the fine print of your credit card. If you’re planning a trip longer than that, it’s crucial that you get top-up coverage to cover the entire duration.
It is possible that you’re travelling to a destination outside of coverage. Before you jet, double check it’s within the coverage area. Even if you’re only staying there briefly during your trip, it’s best to have peace of mind. See The Government of Canada Travel Advisory before your departure.
The deductible varies depending on the type of travel insurance you have and from which company. It can be $0, $300, $500 or more, but it may be a lot higher for some seniors with medical conditions. Speak with a licensed insurance advisor about pre-existing conditions.
We have a great healthcare system in Ontario, and OHIP does cover physician and hospital services for travel outside of Ontario but within Canada. However, the Ministry advises you to purchase private supplementary insurance for non-physician/non-hospital services. Find out more about the OHIP Out of Province Services here.
When travelling outside Canada, “[y]ou are entitled to very limited funding for a certain range of medical services […]” For inpatient services, OHIP will pay $200 CDN a day, and $400 CDN for hospital services. Read more about Travelling Outside Canada Coverage here.
Yes, there are policies out there that are all-inclusive packages, with coverage for emergency hospital and medical, baggage insurance, trip cancellation and interruption, etc.
But every policy has exclusions. Keep in mind that travel agencies don’t have licensed insurance advisors on hand to provide you with accurate information. BTI Direct does; our licensed insurance agents can tell you about the limits and restrictions, as well as provide you with sound advice.
Travel insurance can cost as little as dollars a day, yet it could save you thousands in medical bills. How much it costs depends on various things: age, the number of days, and what you want covered.
It’s not too late to buy… as long as your flight hasn’t taken off! You can purchase it online instantly from our Travel Insurance page. You’ll receive an email confirmation, and you’re all set. It’s that quick and convenient! You can also call us at 1 (844) 774-6340, and we’ll get you the protection you need for a safe trip.
Posted Apr 22, 2019