School break travel insurance shopping tips

For most families with children in school, the Christmas and March breaks are a time to look forward to a change from the day-to-day routine of winter. Do your kids have a hockey tournament out of town? Are you going on a vacation down south? These plans require lots of organization, so while you're writing your to-do list prior to leaving, make sure travel insurance is included.

Why should you consider travel insurance?

It all really comes down to dollars and cents. According to the Agency for Healthcare Research and Quality (an agency within the United States Department of Health and Human Services) the average hospital charge to repair something as common as a broken arm is over $11,000.

Debunking the provincial health insurance plan myth

Many Canadians believe travel insurance is unnecessary for the sole reason they mistakenly believe their provincial health plan will cover all their emergency medical expenses while on vacation. Unfortunately, this is a costly misunderstanding, as a quick search of a few provincial health insurance websites show:

• Ontario residents will only be covered up to $50 per day for any out-of-country emergency care, and only up to $400 per day for any out-of-country inpatient hospital services.
• BC residents will only be covered for up to $75 per day for any out-of-country inpatient hospital services, and;
• Alberta residents are only covered up to $100 per day.

Given that a broken arm typically costs $11,000 to repair, where will the remaining money come from?

Get the right travel insurance for your break from school and work

Checking out your travel insurance options is the easiest part of your travel plans. Not only can you cover your children for a reasonable price, you can cover yourself, your spouse and your kids all under one plan. Did you know that:

• Families of 4 travelling for 8 days (travelling Friday to Friday) can get covered for as little as $24 from some companies?
• And, other travel insurers even cover children under the age of 16 for free as long as a parent is insured along with them?

When shopping for travel insurance, consider these money-saving tips:

• Buy one policy for the whole family
  Buy one policy that covers the whole family, rather than buying one policy per person. Family travel insurance rates are often available and are usually noticeably cheaper.
  
  Compare family travel insurance rates to save.



• Buy an annual multi-trip travel insurance policy
  Multiple-trip travel policies mean that for one annual rate, you will have emergency medical travel insurance coverage for every trip you take within the year after the policy is issued. Quotes for a variety of trip lengths are available too.
  
  Find annual, multi-trip travel insurance policies to compare and save.



• Buy what you need - no more, no less
  If you're taking a road trip, or going on a last minute getaway, chances are you really only need to buy emergency medical coverage. Anything else and you'll probably be over-insured and paying too much.
  
  Find low cost emergency medical travel insurance rate quotes from competing insurers.
  
  With trips where you might like more coverage (like trip cancellation/interruption, baggage protection, and emergency medical) make sure you buy one policy, like an all-inclusive, that provides all the coverage you want, rather than purchasing separately policies. It will save you money.
  
  Get rate quotes for all-inclusive travel insurance to compare.



• Shop around
  The one tip that can save you the most off your travel insurance premiums is to shop around and get travel insurance quotes from competing companies. The vast range in rates available for what seems like the same coverage will surprise you.

Looking for more information on your travel insurance options? Don't forget to:

• Read: The best kept money-saving secret for buying travel insurance: multi-trip travel insurance
• Read: Are you paying too much for travel insurance?
• Read: Zoom, Jetsgo, and Canada3000: Three reasons why you might need trip cancellation insurance

* Emergency medical travel insurance plan was quoted on December 3, 2008, but may be subject to change at any time.