Travel insurance can offer Canadians numerous benefits and protections, regardless of whether they're travelling domestically or internationally. So, how much does travel insurance cost? Read through our travel guide for more information!
How much do I need to pay for travel insurance?
In general, the average travel insurance cost will range from $50 for a basic plan to $250 or more for a more comprehensive plan. Ultimately, how much your travel insurance costs will depend on what coverage you purchase and your policy limits.
Who has the best travel insurance in Canada?
If you're a Canadian resident looking for travel insurance, consider Travelwell policies for comprehensive coverage at an affordable cost. You can also travel safe with TuGo!
Is it safe to travel while pregnant?
If you're expecting, you may be wondering: is car travel safe during pregnancy? And the answer to this question is yes, you can travel in a car or airplane if your doctor has cleared you to do so. While travelling, remember to position your seat correctly and wear your seatbelt underneath your belly, as it will protect you and your child.
You should also plan your trip in advance and know where the nearest medical facilities are located in case you experience a medical emergency while travelling domestically or abroad.
What does travel insurance include?
What is or isn't covered in your travel insurance will depend on the insurance company. However, most travel insurance policies typically cover the following:
Trip cancellation or interruption insurance
Trip cancellation and trip interruption insurance will reimburse you for any prepaid or non-refundable trips if it is cancelled, or interrupted because of a covered event such as a family death, severe weather, or a sickness.
Travel medical coverage
Travel medical coverage in Canada will provide coverage for medical costs if you fall ill or are injured during your trip. This includes the cost of hospital treatments, doctor visits, and ambulance transportation.
Emergency medical coverage
Emergency medical coverage provides policyholders with financial protection for emergency medical evacuation to a medical emergency facility or back to their home province.
Lost baggage
With lost baggage coverage, you will be covered for any damaged, stolen, or lost baggage. It will also cover your personal items within your bags as well.
Trip delays
If your trip is delayed, your travel insurance will cover the cost of food, accommodations, and any other expenses you have to pay because of the delay.
Travel accidents
In the event you are involved in an accident during your trip, and it is a covered event within your travel insurance policy, your family will receive death benefits.
Rental car coverage
When you buy travel insurance, most will include coverage if you decide to rent a car, including third-party car insurance. Note that if you rent a travel trailer, you may have to purchase additional travel trailer insurance.
24/7 assistance
Most travel insurance policies will also provide travellers with 24/7 assistance for the full duration of their trip, whether it be help for medical emergencies, finding accommodations, and more.
Missed connection
If by some chance you miss your flight, train, or other connection, your travel insurance will provide coverage for additional travel costs during your trip. When you buy travel insurance, you can have peace of mind knowing you'll have safe travels abroad. Just keep in mind that your insurance policy will not provide unlimited coverage as there are often exclusions if you have a pre-existing medical condition, cause intentional damage or injuries, travel during a pandemic, and more.
So, when you purchase travel insurance, make sure to ask your provider what is and isn't covered. That way, you can purchase additional benefits for you and your family to cover any gaps.
Is Canada expensive for travel insurance?
Not necessarily. In Canada, you can purchase a single-trip plan or a multi-trip plan when it comes to travel insurance. When you consider how much you would need to pay out of pocket in the event an accident occurs or you need to file a travel insurance claim, the cost of travel insurance is a minimal investment, and coverage is unbeatable.
Furthermore, you can save money on your travel insurance costs if you're a member of a professional association, including the Association of Canadian Travel Agencies or the United Commercial Travelers Group. So, if you want to save on the cost of travel insurance, make sure to ask your provider if you qualify.
Will travel insurance cover me if I get Covid 19?
Covid 19 and travel insurance can be tricky and because the pandemic is still in effect, not all providers offer medical coverage for Covid. So, we suggest asking your specific provider whether they offer coverage for this type of medical coverage.
Factors that affect your travel insurance cost
The average cost of travel insurance will vary based on several factors, including the following:
Age
Older Canadian travellers often pay more for travel insurance than younger individuals.
Trip length
Longer trips in Canada or abroad will cost more.
Destination
High-risk locations or ones with travel advisories tend to cost more in terms of insurance.
Coverage amount
Higher limits and add-on travel insurance policies will be more expensive.
Type of coverage
Specific coverages will affect costs.
Pre-existing conditions
Coverage for medical conditions raises premiums.
Provider
Costs vary by insurer, so compare the policies you purchase and the travel insurance you buy.
Get customized travel insurance quotes with BrokerLink today!
If you're looking for travel insurance coverage, BrokerLink is here to help. To work with an insurance broker from our team, feel free to visit us in one of our offices at any time -we've got locations across Canada!
You can also contact us over the phone to speak with someone directly, or get a free travel insurance quote using our online quote tool!
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