If you've been planning a trip abroad, you're likely checking and double-checking your bags to ensure you haven't forgotten anything.
But you have likely forgotten one thing: buying travel insurance. You might question, do I need to buy it at all?
This travel insurance guide will help you understand what travel insurance is and to decide whether you should take it for your next trip.
Here's what you need to know about travel insurance for Canadians.
What Is Travel Insurance?
Our travel insurance for Canadians includes two types of coverage:
Coverage of healthcare costs while abroad
Coverage of unexpected costs or financial hardship due to cancelling a trip or any interruption in travel
It's not required for Canadians to have travel insurance when abroad but it's often recommended. You should consider buying your travel insurance coverage before you leave for your trip.
Many Canadians ignore buying travel insurance, as they always want to save money before an international trip.
While you should hope for the best, we think it's also ideal to prepare for the worst. If something goes wrong, you'll have peace of mind knowing your travel insurance has you covered.
Now let's look at a few situations in which you might need travel insurance and your life would be harder without it.
Do I Need to Buy It?
In many cases, your Canadian health insurance will only cover part or none of your medical expenses while abroad.
As a result, you can't always depend on the health insurance plan you already have to assist you. You might also expect that decent healthcare in other countries is often expensive.
For example, in many parts of Europe, you won't have to pay for public healthcare services. But there can often be long lines and you won't get the best quality healthcare.
The private healthcare service is more efficient and will offer you better care. You want to ensure that you can pay for it, and that's where your travel insurance comes in.
Another scenario is if your travel gets cancelled or interrupted due to unforeseen circumstances. Perhaps you had planned a trip in 2020 and it got cancelled due to the pandemic.
Travel insurance can ensure you receive compensation for trip cancellation.
These are just some of the advantages of opting for travel insurance for Canadians. The insurance coverage can cover personal liability, replacement costs for damaged and lost baggage, and emergency travel expenses for returning to Canada.
Get Your Travel Insurance
Now let's return to our question: Travel insurance ... do I need to buy it? you now have your answer on why you should consider buying travel insurance.
The additional cost to your travel plans will give you peace of mind in case something goes wrong. The main purpose of travel insurance is to cover medical expenses abroad.
But it can also compensate for trip cancellations, interruptions, personal liability, and issues with your baggage.
Maynard Insurance Brokers Ltd. is the best option for travel insurance for Canadians. You can learn about our services and how we can help you before your next trip!