Preparing for a holiday? Here's some essential information regarding travel insurance coverage
In the world of travel, unexpected events can happen at any moment. To ensure peace of mind and financial security, travel insurance is a valuable tool for travelers.
One of the key benefits of travel insurance is its ability to repatriate travelers if medically necessary, flying them home when needed. Emergency medical expenses while traveling can quickly escalate, often reaching tens of thousands of dollars. Medical insurance can help cover these costs, providing much-needed relief.
But what about medical expenses within Canada? While OHIP (Ontario Health Insurance Plan) typically covers these costs, there are instances where it falls short. Medical insurance can bridge this gap, covering expenses that OHIP does not.
Travelers also have the option to purchase standalone medical insurance plans, or bundle cancellation, interruption, baggage, and medical insurance together. Bundling these plans can result in savings.
An ambulance ride within Canada can be expensive, with costs reaching up to $1,000. In such cases, travel insurance can cover these charges, offering a financial cushion. Moreover, travel insurance can potentially cover per-kilometer charges for an ambulance ride within Canada.
Hotels in Canada can be non-refundable, making cancellation insurance beneficial. Cancellation insurance can reimburse travelers if they are unable to go on their trip for various reasons. Similarly, interruption coverage can help travelers recover costs if they have to cut their trip short.
Rachel Lalonde, the Travel Store Manager at CAA (Canadian Automobile Association), strongly recommends travel insurance. She advises purchasing travel insurance as soon as travel plans are booked. Lalonde also suggests cancellation and interruption coverage to recover costs when travel plans go awry.
It's a common misconception that travel insurance is not necessary for trips within Canada. However, Lalonde emphasizes its importance, recommending travel insurance for trips within the country as well.
Interestingly, travel habits are shifting, with more people opting for quieter areas in Europe. Meanwhile, more Canadians are choosing to travel within the country, making travel insurance all the more relevant.
As we navigate the world of travel, it's essential to be prepared for the unexpected. Travel insurance offers a safety net, helping to cover emergency medical expenses and potential trip disruptions. So, whether you're planning a trip across the globe or a road trip across the country, consider investing in travel insurance for a stress-free journey.
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