6 Tips on Choosing The Right Travel Insurance

February 27, 2023

Here are six key considerations to keep in mind when choosing a travel insurance plan.

  1. Consider the most common claims
    Did you know that more than half of travel insurance claims are related to trip cancellation?  According to a recent article in Forbes Magazine, data shows the top claims are for:
    * Trip cancellation
    * Medical expenses for emergency illness and injury
    * Reimbursement of certain trip costs if a trip is interrupted
    * Reimbursement of certain costs if a trip is delayed

    It’s no surprise that trip cancellation tops the list. According to a recent travel survey, 88% of travellers who purchase travel insurance say that trip cancellation protection is the most valuable benefit they receive from these policies. Whether you have a family emergency, a snowstorm grounds your plane, or you’re called for jury duty, trip cancellation and interruption insurance can potentially save you thousands of dollars.

  2. Review the plans available
    Depending on what type of trip you’re taking, how long you’re going for, and the people you may be travelling with, there is likely a plan that’s right for you. Manulife, for example, offers:
    * Emergency Medical
    * All-Inclusive
    * Baggage Loss, Damage & Delay
    * Trip Cancellation & Interruption
    * And more

  3. Review existing coverage
    Even if you have travel insurance with your credit cards or work group plan, there could be gaps. Review the details to spot any exclusions or restrictions that may require you to top up your coverage.

  4. Read your contract
    Once you have a plan in place, read your policy in full so you know exactly what’s covered - especially if you’re into adventure travel, like rock climbing or parachuting, which may not be covered. If you’re travelling somewhere remote, like the deep woods, mountains or rainforest, make sure your policy covers evacuation costs to find and move you to a medical facility, if necessary.
    Tip: Sasquatch-related injuries are not likely covered.

  5. Get a substantial coverage limit
    If you get a policy with a $20,000 coverage limit, that amount might cover $14,000 for an ankle fracture in Mexico, but not $28,000 for appendix surgery in Ireland, or $195,000 for a heart attack in the United States. So try to get the most coverage that fits within your travel budget.

  6. Connect with a travel agent
    Speaking with a travel agent will help you determine the plan that’s right for your next trip — and answer any of your outstanding questions. Once you’ve decided on the coverage that’s right for you, you’ll be free to focus on the fun part of travel and finding the joy and peace that a change of scenery can bring.