With the travel industry continuing to see a resurgence, InsureMyTrip.ca is advising travellers not to risk a well-planned and costly vacation.
As many Canadians – often unaware of the potential risks involved – rely solely on their credit card providers for travel insurance, InsureMyTrip.ca has highlighted the pitfalls to consider.
The travel insurance comparison site pointed out that the extent of coverage offered by credit cards varies and may be insufficient. Typically, credit card coverage is limited to expenses paid directly with the card and may only cover basic issues that arise before or during a trip.
“Even if your credit card offers trip protection, it may not be the level of protection you would expect,” said InsureMyTrip.ca. “It’s important to carefully read the credit card travel insurance documents to understand limits, special conditions, and restrictions.
“Also, credit cards often have lower limits than a robust third-party travel insurance plan.”
Similarly, assuming that provincial or Canadian medical coverage will suffice while travelling abroad can lead to frustrations and expensive mistakes.
Canadian health insurance plans normally do not cover medical expenses incurred abroad and may offer limited coverage when travelling outside one’s province. If a traveller is injured or falls ill while out of Canada, they will likely have to pay medical bills out of pocket unless they have travel medical insurance.
“As with any purchase, it’s important to shop around and compare,” said InsureMyTrip chief executive Suzanne Morrow (pictured).
All-inclusive travel insurance plans provide comprehensive coverage for emergency medical expenses, medical evacuation, baggage delay, and trip interruption or cancellation. Additionally, a third-party plan may also include “cancel for any reason” benefits, providing greater flexibility.
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