There was a time when travel insurance was seen as an idea separate from Gen Z and Millennial reality. We thought nothing would hit us.
I’m telling you a secret. Travel insurance does more than just soothe your parents and protect your luggage. They are also there to ensure that you can go home without debt if something unexpected happens at home or while traveling.
Travel insurance, what is it for?
Having things is great, but losing them is really unpleasant and costly.
Of course, when traveling, there are great value products we bring with us. There are clothes, jewelry, electronics, and even electric toothbrushes worth nearly $ 100. If lost, these are items that need to be replaced and are expensive to do when you are away from home.
But the most important thing is your health. If something happens to you, you need to make sure you can be treated without having to pay from your pocket. Second, if something serious happens, you must be able to repatriate you. Yes, something pretty serious can happen.
Finally, if the pandemic tells us something, it’s the usefulness of travel cancellation or travel suspension insurance. These can save you a lot of money, time and stress. Either way, now I couldn’t leave without it.
And many other reasons …
Losing a suitcase or stealing an item while traveling is known to be a costly inconvenience. But there are other things you should know. Here are some examples.
- Your child has a serious illness that your group travel insurance does not cover.
- Your employer will send you on the go and will not provide travel insurance to the family you visit.
- You are already on vacation and have a family emergency at home and need to cancel your stay.
- You are elsewhere in Canada and need a doctor, but he doesn’t want to take your Régie de l’assurance maladie du Québec (RAMQ) card.
- You have been abroad for a long time, but there is a delay between returning to Quebec and the start of RAMQ coverage.
Most of these situations can be covered by cancellation insurance and health insurance. Both can save you a lot of money and stress.
Cancellation insurance, your best ally
Dad and mom get sick at home and you are staying in Mexico for a few days. You have to leave the beach to get to their bedside. This is an unexpected situation that affects you without being directly related to your health. Some cancellation policies can handle family-related emergencies. Otherwise, you will have to choose between family responsibility and the price of the last plane ticket you purchased.
Having cancellation insurance that covers exceptional situations for you and your loved ones can allow you to cancel and receive a large refund. It can be a serious illness, death, or even an accident in your parents of one of your relatives. If you know you are at risk, we recommend that you take out cancellation insurance and buy a little less souvenirs on the spot.
Travel medical insurance
It is well known that RAMQ does not pay all costs associated with an emergency abroad. Even if you are traveling elsewhere in Canada, RAMQ will only pay for similar treatments in Quebec. All additional charges will be borne by the individual.
By taking out travel insurance that provides medical insurance, you do not have to pay yourself. Still, even if RAMQ is for you, there may be reimbursement limits for certain treatments if they are not needed or if they are due to an existing condition.
How to find travel insurance
No matter how old you are, there are many travel insurance companies out there. For example, some universities offer group insurance, including travel insurance. Some workplaces also have them.
Credit card with travel insurance
Credit cards often come with travel insurance. Convenient for ski trips and short stays in New York. Again, it’s worth considering this side to make the most economically interesting choice.
Travel agencies also have insurance policies and packages, often linked to their destination. Agents are often good at advising you. Even online travel sites offer travel insurance. Regardless of the source, read the fine print to avoid getting caught up in exclusions, refunds, travel, dates and cancellation policies. Be careful to exclude bad weather.
Insurance companies and certain financial institutions
Of course, there are many financial institutions and insurance brokers that offer travel insurance.
As a rule of thumb, ask your current insurance company or bank if they have a policy to take advantage of potential discounts. Their policy may be more comprehensive than your credit card or your employer’s policy. If you are self-employed, you will find compensation tailored to your situation at an insurance broker.
Too reassuring … or not enough
So how do you choose insurance? Start by looking at what you have already paid. Please read the terms and conditions of the policy. Make a list of your needs and see if they are already covered.
You must pay particular attention to those covered by your group insurance. These may not cover children suffering from serious illness during vacation. Even if you happen to run out of coverage and you already have an insurance broker, it’s still a good idea to shop. It’s still your money on the table. You can simplify your life with reference to a comparator like Hardbacon.
Declare your health concerns before leaving
I agree that some health conditions are more difficult to insure than others. Declaring a serious or existing illness is always a good thing. You don’t want to go on a trip, you’re worried, and you’ll pay for your insurance for free. That wouldn’t really be ideal.
Affecting millennials may be ruled out, so it’s a good idea to declare mental health issues as well. Do you think I’m exaggerating? I was diagnosed with anxiety and my insurance refused to claim my teeth. Let’s say Madame isn’t very happy and then decides to take out insurance elsewhere.
One thing to keep in mind is that travel insurance isn’t just about lost luggage or stolen devices. Travel insurance is the minimum cost that can save you a lot of money before, during and after your vacation.
Make sure everyone is insured and understand the restrictions. The person who sells you insurance is there to give you this kind of information.
So don’t hesitate to come up with a list of questions and scenarios, it’s his job to answer your questions.