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One of the most misunderstood aspects of preparing for time off exploring the world is getting the logistics sorted out, not forgetting anything important. Travel insurance should be on the top of your to do list. If you’re going on vacation this summer, even if it’s just for a few days across the US-Canadian border, you can’t leave home without travel insurance! Here’s what you need to know.
Why It’s The Best Money You’ll Ever Spend
As a traveller, hopefully you’ll never have to find out why spending your hard earned money on travel insurance is the best thing you bought in preparation for your vacation. While a good backpack is something you can live without, sometimes it’s your life that’s on the line if you don’t have travel insurance!
While Canadians are covered by their provincial health plan for accidents at home, they are not covered while on vacation in another country and travel insurance is the only way to go on holiday without risking your life savings.
Check Before You Buy
Many people have a travel insurance plan included with their work benefits. Also many credit card companies have travel insurance included in the yearly fee on your credit card. It’s worth looking into what you might already have in place before you spend extra money on insurance you don’t really need. Be sure to get exact information on your coverage though, before you think you’re safe to opt out of extra insurance. All plans are different and the “free” plan thrown in with your credit card might not cover medical expenses over $5000, which certainly wouldn’t cover an evacuation from a trek in Nepal!
Package A, B or C?
Travel insurance, like all things nowadays, comes in a customizable package for the consumer. Consider what you need covered before you buy the most expensive package. While I always go for the deluxe package, including medical, baggage, flight and trip cancellation and personal effects, that’s because I like to know that no matter what, I’m covered.
If you’re not worried about your ratty travel duds and your secondhand backpack, and you’re going on this trip no matter what, all you need for a safe and happy trip is a good medical plan. Make sure that your medical plan covers for death or dismemberment, and includes a high enough dollar value so that if you need to be evacuated to receive medical care your parents, family or loved ones won’t end up with a huge (and I mean massive!) bill trying to save your life. It might be morbid, or funny, comparing how much money one company will give you if you loose a finger versus another plan, but you’ll be glad it’s there when you need it. We might all need to get medical attention while on vacation, even if it’s just for a bad cold.
While travel insurance is based on where you’re going, how old you are and how long you need to be insured for, there are deals to be made. Try TravelCuts or another online retailer, but remember to compare plans before you buy. Sometimes a good price can be too good to be true.
If you travel a lot or plan on doing an extended (3 to 4 month) trip, consider buying travel insurance for the whole year. It tends to work out to be less than buying a one time insurance plan for a long trip.
Even More Insurance?
Do you plan on indulging in high-risk sports like whitewater rafting or rappelling? If so, make sure that your plan will cover you in case of emergencies while on your adventures. Some plans are specifically void if you’re injured in a high-risk sport.
Some plans don’t include damage to glasses or contacts. These are pretty costly things to replace on vacation, so consider getting them, or any other specialty equipment, insured as well.
Don’t bring your expensive watch or jewellery and you won’t have to worry about insuring it, losing it or having it stolen on the road.
Safe, Rather Than Sorry
Most travellers buy insurance and never have a problem. Sometimes it can seem like a waste of money, but don’t leave home without it! Travel insurance is your only protection against coming home bankrupt, even if all you did was break your leg.
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