Do you have a vacation coming up?
One thing that we never forget is travel insurance, as it gives us peace of mind as we travel.
That said, travel insurance can be a complex beast, so we’ve put together a list of helpful tips to help you keep your trip worry free.
What Are the Limitations of Your Travel Insurance Plan?
Before you apply for any specific travel insurance policy, you have to know its limits when it comes to the time period for which the coverage is available. When you get travel insurance through a credit card, the longest period you’re covered can be only 21 days. Check that your credit card insurance offers medical travel insurance!
If you want a plan that ensures adequate coverage for a chosen number of days, you will have to opt for a stand-alone plan promoted and sold by travel insurance companies.
What Is the Minimum Amount You Should Get to Ensure Adequate Coverage?
The minimum recommended amount for any expense covered by your travel medical insurance is $1 million, although many experts consider $5 million to be a safer and more practical choice. Also, make sure you get reliable coverage for all hospitals and any type of medical service you might need. $1 million in insurance isn’t of much use if the nearest hospital that can help you won’t be able to accept the payment.
Does Your Policy Support Direct Payment?
You’ll find this to be a highly important issue to consider. If the policy offers direct payment options, then you can receive proper care abroad without having to pay from your own pocket. Alternatively, you will need to take extra cash with you on your travels as a safety precaution. In either case, it is essential to be informed about your plan’s limitations regarding this crucial consideration.
Is Emergency Medical Evacuation Included?
Even if you plan to travel closer to home, to a country like Canada where land transport is possible, know that the most affordable air ambulances can still cost you about $30,000. Medical evacuation is a serious business if you want to get the best care from doctors back home and benefit from the full advantages of your healthcare plan when it comes to treatment and recovery. So make sure you ask the insurer whether emergency medical evacuation is included as part of your coverage.
What Are the Main Exclusions of Your Travel Insurance Policy?
Every policy has exceptions to the situations supported by the offer you pay for. These exclusions normally have to do with activities that present higher than usual risks, which will not be supported in the event of a claim.
Some of the more common exclusions include extreme sports such as base jumping, bungee jumping or extreme skiing, as well as scuba diving and adventure sports. If you know you practice these types of activities, it is usually best to search for an insurance provider that will support you, even if the cost might be higher than you expect.
Want more tips:? Check out the government of Canada’s fact sheet on travel insurance here.