So, your Wanderlust got the better of you and you’re off on a new adventure! But adventure has a chance to go sideways, and that’s what you’re here to prepare for. It’s not super complicated, but there are a few things to know before buying travel insurance.
First, how often do you travel?
You’ll get to pick if you want to buy travel insurance for the one trip or coverage for the whole year. Buying by the year costs a bit more up front but if you’re going away a couple times in a year, you can save a lot!
When it comes to buying travel insurance, there are a number of things you may want to insure. The most important being accidents and emergencies (including death).
Driving back through the boarder with a broken leg after a day of shopping is one thing, but if you passed away unexpectedly, your body needs to be properly processed through the boarder – a surprisingly expensive event!
For short trips, what would happen if you ended up in the hospital from a serious accident?
For longer trips, add getting hurt or sick and needing to see a doctor before you can fly home to your list of concerns. There are plenty of other emergencies that could land you with a Doctor’s bill! (link to my travel story)
Less serious things to think of are trip cancellation insurance if you have to cancel unexpectedly, baggage insurance in case yours gets lost (to help buy fresh clothes/toiletries/etc.), and rental car protection.
Keep in mind, there are certain countries that Insurance companies will not cover you in. Specifically, countries with civil unrest or on the Canadian Government’s Travel Advisory.
There are exclusions to almost all Travel Insurance policies. You won’t be covered if you are intoxicated by liquor or drugs, skydiving, professional racing and other sports.
Traveling with medical conditions?
Make sure you disclose it to your insurance agent. There are companies that will cover you EVEN IF you have a health concern. Make sure that you look at what you policy’s “Stability Period” is. That’s the amount of time your condition needs to be stable for, before you can apply for insurance. It’s typically a 90-180 day period BEFORE YOU APPLY. This includes ANY changes to medication. If in doubt, ask to fill out a health declaration and get written approval from the insurer – your Insurance Broker can help with this.
Whether the company looks at your medical history when you apply for the coverage or when you make a claim, they will find out if you have an existing condition. Honesty is the best way to make sure you receive the benefit if you need it.
Here’s where you can buy travel insurance:
- An Insurance Agent/Broker: Some may sell travel policies.
- Travel Agency: These professionals are not licensed in insurance but can still sell travel insurance.
- Online: It can be much more difficult to make sure you get the right travel plan this way.
There are 2 IMPORTANT things you need to know about Travel Insurance:
- How to claim: Know before you go. Your policy might require you get certain Doctor’s notes or Xray photos that you won’t be able to get once you’re back home.
- You’ll likely have to pay the cost up front. Most often, you’ll have to pay the Dentist/Doctor/ Pharmacy bill before you leave their office. You’ll submit the receipt to the Travel Insurance company when you’re back home to be reimbursed. Make sure you have some emergency cash!
Whenever possible, call the Insurance Company’s Emergency number for assistance. This can help with choosing a hospital, accessing translation, and getting help with or arranging bill payment.
There can always be unexpected situations that we didn’t cover here. The best way to make sure you get the help you need, is to know what your contract says!
And that’s what to know before buying travel insurance! Hopefully you don’t have to use it, but it’s important to have just in case.
Happy Travels! 💃🕺