Travel insurance is a type of insurance that protects your trip investment. It covers the costs of trip cancellation or interruption, as well as emergency medical care while traveling, emergency evacuation, rental car damage, lost luggage, and other expenses. In a country like Canada, the medical component is crucial. Out-of-province care is more expensive and offers fewer services than care in the patient’s home province.
Travel insurance comes in a variety of forms. It is available as a standalone policy or as an add-on to a travel purchase, such as a flight.
Top 10 Cheapest Travel Insurance In Canada
1. World Nomads
This insurance is purposely created for adrenaline lovers with wanderlust. World Nomads insures a long list of volunteer/work experiences, sporting equipment loss/theft, and adventure sports. You also get access to a 24/7 customer center that provides info that adventure travelers may need: from travel advisories, weather reports, and assistance locating the nearest trail to finding a gear shop. The standard policy covers emergency medical expenses up to $5 million, trip cancellation/interruption, emergency dental service, baggage theft/damage, and more. The drawback to this wonderful insurance package is that you must be below 66 years of age to apply.
2. CAA Travel Insurance
CAA is a long-trusted Canadian institution that offers flexible travel plans to suit every type of traveler and vacation. However, their policies are particularly great for families only. Their stand-alone emergency medical policy of up to $5 million in health coverage is extremely extensive, including emergency dental service, medical repatriation, and reimbursements for pet care. The Vacation Package Plan provides full cancellation/interruption insurance, which is ideal for prepaid, all-inclusive vacation packages, as well as family transportation and escort of children during emergencies.
For vaccinated clients traveling during a Government of Canada-issued Level 3 (avoid non-essential) travel advisory, CAA’s emergency medical plans now include coverage for COVID-19-related diseases. If only partially vaccinated, coverage is up to $2.5 million, and if completely vaccinated, coverage is up to $5 million.
3. Blue Cross Insurance
Blue Cross has been around for over 70 years, and one out of every four Canadians uses its travel insurance. Blue Cross’ emergency medical coverage is up to $5 million, and it offers specific “snowbird” travel insurance packages for Canadians who spend part of the year in warmer climes, making it an excellent choice for retirees. The recently established Serenity Service is included in the package, and it’s a free bonus that gives you access to an airport lounge or even a hotel room if your flight is delayed (depending on the length of the delay). In most cases, pre-existing conditions are not covered.
4. Travel CUTS Bon Voyage Insurance
Travel CUTS starts at $1.36 per day. This Insurance has been the “go-to” travel policy for many Canadians – thanks to their low-cost travel insurance packages. Their insurance is also good for students, as you can change your travel dates for free due to an exam schedule problem. Hospital and medical has a coverage of up to $1 million in air ambulance evacuation, dental care, accidental death, trip interruption/cancellation, and flight accident. All these are included in the base package.
5. CoverMe by Manulife
For people traveling as a family, a visitor to Canada, or a student, Manulife offers very comprehensive travel insurance packages, as well as access to the TravelAid smartphone app, which provides directions to the nearest medical facility and local emergency telephone numbers. However, TravelEase, a specific policy designed to cover fully reported medical issues, is undoubtedly the most notable service offered by this insurance company. It covers a variety of charges for health services and transportation for travelers with pre-existing diseases, as well as up to $10 million in emergency medical benefits, which is something rare in the travel insurance business.
6. Medipac Travel Insurance
Medipac is one of the only travel insurance providers that has its team of certified medical professionals available to help you via their Medipac Assistance hotline. In an emergency medical situation, Medipac’s medical specialists are your first point of contact. This service is also beneficial when dealing with foreign medical systems and avoiding extra costs when dealing with a high deductible.
Medipac’s travel insurance policies provide several appealing features, a claim-free discount, no age restrictions, and a 90-day stability period for the majority of pre-existing conditions. If a normal Medipac insurance plan doesn’t cover your pre-existing medical condition, Medipac also offers customized, underwritten insurance coverage to match your needs.
Clients who have gotten at least one dose of a COVID-19 vaccination, as well as the new MedipacMAX option, will earn a 5% Vaccine Discount from Medipac. In addition to its other benefits, this COVID insurance option gives maximum coverage of up to $5 million for COVID-19.
What Is Covered By Travel Insurance?
What your travel insurance covers is determined by the insurer and the package of coverage you select. Emergency medical care, trip interruption, lost or damaged baggage, and trip cancellation are all common coverage.
If you already have supplemental individual medical coverage and are traveling within Canada, a basic plan covering only flight cancellation may suffice. If you’re planning a ski trip to the French Alps, on the other hand, a comprehensive plan that includes emergency medical care and evacuation back home could put your mind at ease if you have a bad fall on the slopes.
Although it’s not compulsory to get a travel insurance when taking most vacations, it’s still financially credible to do. Because the financial cost of something going wrong while traveling is typically bigger than it would be at home, and travel insurance provides additional safety and peace of mind. Medical treatment is the finest example of this, as most health insurance, whether public or private, will not cover you if you travel outside Canada. An uninsured foreign emergency could cost you thousands of dollars because of the exorbitant expense of medical care. Hence you should consider signing up for one of the aforementioned insurance.