October 15, 2021

Canadian Travel Insurance

When considering travel insurance as a Canadian, there are a few reasons we want to share with you why we recommend you buying Canadian travel insurance rather than anything else.

You’ve likely heard of an instance where travel insurance has created a horrific situation for someone travelling abroad from Canada. Often these situations are not necessarily the direct fault of the insurance company but rather based on issues or mistakes made during the application process. Sometimes issues even arise from simply just purchasing the wrong insurance.

Individuals and travellers should be less concerned about travel insurance companies being heartless and rather more concerned about doing their own due diligence in regards to the type of insurance each individual requires. A traveller should still only consider working with insurance companies they really trust but it’s important to realize that each traveller also has responsibilities.

Canadian travel insurance

1. High International Rates

Canadian travel insurance providers often will provide you with not only lower rates but also with an increased amount of coverage. Considering an amount like $10,000 versus coverage of $5,000,000. Often the fees for a single day in a hospital located in the US can cost amounts in the $10,000 range or even more for medical expenses. It’s important to realize the reality of what medical services can actually cost and realize that coverage in the $1,000,000 plus range is the safe bet and should be seen as a minimal amount.

2. Canadian Travel Insurance Complement Provincial Coverage

As a Canadian citizen, you are provided with a basic coverage amount. This should never be thought of as enough. Canadian insurance providers take into consideration what is provided by the government and designs and carries forward their plans to work alongside this coverage. Additionally, you can be reimbursed in a timely manner rather than waiting on reimbursement approval from provincial levels.

3. Adjusted for Provincial Coverage

Canadian travel insurance rates can be seen as more competitive than other insurers in various other countries because Canadian insurance providers consider the provincial coverage. When you look elsewhere for insurance coverage, often the provider will not consider your basic provincial coverage. For this reason, rates will likely be higher in order to cover this gap.

4. Existing Conditions

Unlike many other providers out there, Canadian travel insurance providers will cover you even if you’ve got a pre-existing condition. If you read the fine print in many US coverage plans or plans from elsewhere, often it will likely mention that medical issue rooting from a previous condition will likely not be covered. This is why it is important to always read the fine print of any plan you’re considering. In this case, Canadian providers will likely provide you with travel insurance as desired, yet it is still important to read the fine print or ask questions to ensure there are no stipulations or potential issues. For example, a condition may have to be stable for at least 3 years before being excused.

travel insurance

5. Transportation

Transportation is another important consideration. Unlike international plans, most Canadian travel insurance plans will simply cover your transportation to the nearest medical center when an issue occurs. On the other hand, Canadian plans are likely to cover your transportation back home. This may not seem like a big deal now, but when something happens in a different country, it’s a nice feeling to be able to come back and comfortably spend time with your loved ones.

Canadian Travel Insurance Checklist

travel benefits

Purchase Before You Leave

Travel insurance should always be the first thing on your list. We do not recommend leaving it last minute or getting it after you’ve arrived in your destination. Always purchase your Canadian travel insurance before you leave for your trip.

Consider all Your Options

Everyone travels differently. You should always try your best to look for plans and coverage that can be tailored to you and your needs. Coverage can be unique to the frequency of your travels, what you’re doing when you travel, where you’re going, your baggage issues and even coverage for your pet. Just ensure you’re doing all your research and not simply just choosing the first option.

Read the Fine Print

Perhaps most importantly, never skip the fine print. No matter where your coverage comes from, even if it’s Canadian travel insurance, it’s important to know what you’re covered for. There can be all sorts of exclusions in any given travel insurance plan so reading the fine print and having a good understanding of what you do or do not have coverage for is very important!