A good travel insurance policy is one that covers you for what you need, and doesn't charge you for coverages you don't. When identifying the best travel insurance policy for yourself and family look at the policy details like:
- What's covered?
- Who is covered?
- Does it cover pre-existing medical conditions?
- What's the policy maximum?
- What's not included?
- Is there a deductible?
- Does the provider have an in-house, worldwide, 24-hour/7-day emergency contact number?
Remember too, that travel insurance plans are intended for sudden, unforeseen circumstances-something unexpected or an emergency. A routine check-up and cosmetic surgery, for example, are rarely-if ever-covered.
What types of plans are there?
Depending on the coverage you need, there are specialized plans which offer a range of benefits, such as all-inclusive plans, multi-trip coverage and top up travel insurance.
Your typical all inclusive travel insurance plan gives you the benefits of bundling all of the coverages you may want-emergency medical, baggage, trip cancellation insurance-into one policy, often for a cheaper travel insurance rate.
A standard multi-trip plan is particularly useful if you travel frequently. It provides emergency medical coverage for trips taken over the course of a year; and depending on how many times you travel often costs less than if you were to buy a policy each time separately.
Those who already have travel insurance may also want to consider top-up plans. Top-up travel insurance is a policy purchased by travellers who already have coverage (whether it's through a work policy or credit card), but do not have the coverage they need for the entire length of time they will be away. Top up travel insurance ensures you have coverage for the entire time you are travelling out of the country (Canada).
Is a travel insurance policy really necessary?