A Simple Guide To How Travel Insurance Works

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Travel insurance is often underrated and misunderstood. Based on where you travel to, it may or may not be required. Even if it is not, the truth is that you do need travel insurance and you need to be sure you are covered for whatever might happen on your travels, especially when traveling to another country.

In order to highlight why you need to seriously consider something like travel insurance Canada, let’s outline a few things about travel insurance.

What Is Travel Insurance?

Just as the name implies, travel insurance is insurance for traveling. There is always a minimum coverage that is needed, based on where you venture to. However, extra policies are in place when you want to be covered for more potential problems.

Who Needs It?

Every single person that leaves the country needs travel insurance. It is even more important when you go to a region that is known to be a health hazard as there is a higher possibility you will end up using it.

When Should You Acquire It?

The best time to get travel insurance is before you schedule the trip. This is because it might take some time until you find the best possible policies and coverage to suit your needs. Some research should be conducted for the different options available so you are 100% sure that you will choose right.

Also, if you don’t have travel insurance before you purchase your flight, cruise, or other transportation, you most likely won’t be compensated for things such as cancellations or hazardous weather conditions that cancel your trip.

How Is Travel Insurance Useful?

The answer to this question depends on the type of travel insurance coverage you get. The most common options available include:

• Trip Cancellation Insurance

With trip cancellation insurance you will be refunded a part of the travel costs that are non-refundable or all of them when there is a family or personal medical emergency that appears. This type of travel insurance is normally offered if a flight is booked. After you buy a ticket, you usually cannot buy the insurance policy to cover you.

• Theft/Baggage Loss Insurance

When you have such coverage, a part of the value of your travel belongings are returned in the event they are damaged, stolen or lost. With such a policy you need to read the contract’s fine print. This is because valuation formulas and claim procedures vary from one insurer to the next. When you travel with items that are expensive or personal (such as your passport), the coverage is worth it.

• Emergency Medical Travel Insurance

This policy will reimburse unexpected medical expenses or cover them as you travel. Out of all the travel insurance plans available, this is the most common. It is also highly practical and useful. There are even some policies that cover you when you are involved in sports like skydiving and scuba diving.

In the event that you visit locations that have political turmoil or you are hurt due to terrorist incidents, coverage might be available through some plans. Be sure that you read the fine print so you understand the exact coverage that is available for you.

• Expat Insurance

Long-term and full-time travelers rarely qualify for regular insurance policies after traveling for a long time. As an example, Canadians need valid provincial coverage in order to qualify for a travel insurance policy. However, when you are often outside of the country, provincial coverage is lost so travel insurance is no longer available. In such a situation, expat insurance is needed.

Final Thoughts

As you can see, travel insurance is quite useful and it can cover you in the event you have to deal with many unwanted situations. The protection that you get is vital for your trip. It is always better to be safe than sorry!

Natasha woods is an avid traveler who's been to over 15 different countries and counting! She loves finding new places and sharing her experiences.