WHAT TYPE OF TRAVEL INSURANCE IS BEST FOR CANADIANS?
Among the first questions the majority Canadians ask when buying travel insurance packages is “What type of travel insurance do I need?”
It’s a good query, as there are a number of travel insurance types in existence, and selecting among them all can seem a bit tricky to start with.
Listed in this article, we describe the primary types of plans in Canada, and what types of insurance are best for Canadians.
1. Single Trip
A single trip policy is suitable for your requirements if you’re intending to travel once inside of a given year. This variety of plan is the most widespread type of plan. Single trip policies only cover individuals for an individual journey away from home.
2. Multi Trip
If you travel repeatedly each year, it may be worthwhile to buy a multi-trip travel insurance policy. A multi-trip coverage offers insurance for numerous trips in a year. Multi-trip plans often have limits around the time period of trips you are able to make.
Make sure you study the insurance policy and coverage cautiously, so you know exactly what you’re actually getting.
3. All Inclusive
An all inclusive plan may well be effective for you if you want to have complete coverage. All inclusive insurance policies usually cover emergency medical protection, trip cancellation and trip interruption, baggage insurance plans and health evacuation insurance.
All inclusive insurance policies offer high limits for emergency medical coverage.
The key downside of most inclusive policies is money. You’ll often pay greater than double the total cost of a single trip plan for all inclusive travel insurance plan.
If you happen to be paying attention to how much you want to spend, contemplate getting a simple single trip plan, and choosing a supplementary trip cancellation plan. This can help you save a ton of money.
4. Trip Cancellation and Interruption
Trip cancellation and interruption insurance is effective if you’re concerned about the expenses in case your trip is cancelled or rescheduled. These kinds of packages are especially a good choice for trips that are high priced.
Trip cancellation and interruption insurance plans are also a decent option if you are travelling with multiple people, or if you happen to be travelling along with children.
Would you want to take your infant on a long voyage if they’ve only developed a serious stomach virus? It happens all the time. Trip cancellation and interruption insurance will let you cancel your trip for pre-specified reasons like illness of yourself or a travelling companion, or work loss.
5. Top Up Insurance for Canadians
Top up travel insurance is an effective option in the event you already have insurance, but don’t have coverage for the entire time period that you’re away.
Baggage insurance protects you and your loved ones in case your luggage is lost, stolen, or rescheduled. The benefit you can get from baggage insurance ranges from about $500 to $2000 per consumer, relying on your plan.
7. Medical Evacuation
Emergency medical evacuation insurance is especially necessary if you’re going on a cruise or if you happen to be paying a visit to a remote location.
If you fall ill aboard a cruise, an emergency medical evacuation by way of a helicopter can easily cost $150,000.
Emergency health evacuation insurance can pay for transportation to the closest medical facility or alternatively back to your point of departure.
Be mindful if you’re considering obtaining insurance plans coming from the cruise company. Many cruise companies do not include medical evacuation insurance cover plan inside their travel insurance policies.
8. Accidental Death and Dismemberment
Accidental death and dismemberment is a worthwhile type of travel insurance.
This type of travel insurance will take care of you for injuries you get while riding as a fare-paying passenger on an airplane, helicopter or common carrier (a bus, boat, or even train).
There’s also a death benefit that is paid out (generally between 10,000 to 25,000) if you pass away on your voyage.
In keeping with its less than lovely title, an accidental death and dismemberment policy can pay you a set amount if you lose an arm or leg (or other part of your body) while on vacation.
In conclusion, whatever type of travel insurance you decide on, read your policy attentively before you leave.