5 Essential Travel Insurance Tips For 2024

Imagine missing your dream vacation due to an unexpected medical emergency. In 2023, Canadians planned to spend over $14 billion on vacations, and, since the pandemic has made travelers more risk aware than ever, almost 90% realized they needed to buy travel insurance for their next trip. However, even though there’s a high awareness of the need for travel insurance, many Canadians still don’t know what coverage is right for them, highlighted by a study by Allianz Global Assistance. This blog is your complete guide to learn about travel insurance. 

What Travel Insurance Covers

Travel insurance typically includes:

• Medical Emergencies: Coverage for unexpected medical issues abroad, including hospital stays and treatment.
• Trip Cancellation and Interruption: Reimbursement for non-refundable trip expenses due to unforeseen events like illness or natural disasters.
• Lost or Delayed Baggage: Compensation for lost, stolen, or delayed luggage.
• Flight Delays and Cancellations: Costs associated with delayed or cancelled flights.

What Travel Insurance Doesn’t Cover

Generally, travel insurance doesn’t include: 

• Pre-existing medical conditions not disclosed at the time of purchase. 
• Incidents that happen under the influence of drugs or alcohol. 
• High-risk activities not covered by standard policies (example extreme sports). 
• Travel to countries with travel advisories against non-essential travel.

5 Essential Travel Insurance Tips

> Know Your Policy: Understand what is and isn’t covered. Pay special attention to exclusions and limitations. Your broker will guide you and ensure you have adequate coverage. 

> Declare Pre-existing Conditions: Be honest - undisclosed conditions can invalidate your coverage. 

> Consider Adventure Add-on: If your travel plans include adventure sports or activities (skiing, scuba diving, hiking in remote areas), consider adding extra coverage. 

> Consider Annual Plans: If you travel frequently, an annual plan might be more economical. 

> Keep Emergency Contacts Handy: Have contact information for your insurance provider easily accessible when travelling. Know where to contact approved emergency providers/hospitals on your trip.

Plan your trips worry free with best travel insurance plans tailored for your unique needs. A-kan insurance provides all round coverage for your trips. Make the most of your holidays! Contact our travel insurance specialists to discuss your specific needs.