Why Do You Need To Invest In A Travel Insurance?

Why Do You Need To Invest In A Travel Insurance?

Are you planning to travel out of your province or country? If yes, it’s advised to remain on the safer side throughout the journey by investing in a travel insurance. It is one of the most affordable ways to protect yourself against the unexpected medical expenses and other incidents that happen during the trip. Doesn’t matter, you have a complete health insurance or not, your medical expense coverage will limit itself when you are out of the province and completely null when out of the country. It’s advised to all Canadian travelers to consider purchasing a travel health insurance before beginning to travel.

Some reasons to invest in a travel insurance are:

  1. Your medical insurance won’t travel with you: After you leave the country or the province, only 10% of the health plan coverage travels with you while the rest is left behind. This means only a fewer portion of your medical expenses will be covered by the insurance plan whereas the rest of the expenses will be passed over to you.
  2. You can’t rely on your credit card: While traveling abroad or within the country itself, several limits are imposed on the credit cards. This means you can’t use the cash beyond a certain limit within a day. Since the medical facilities cost too high outside the Canada, it’s advised to invest in a travel insurance.
  3. Group plans don’t provide adequate coverage: Did you feel safe and secure by investing in group travel plans? Though group plans are money saving, they don’t provide adequate coverage for trip cancellation, trip interruption, lost luggage coverage and many other issues. Moreover, the coverage limits in group plans don’t cover your prepaid trip costs. They only provide a small coverage fir medical expenses that arise during the travel.
  4. Emergency travel assistance services are essential: Doesn’t matter you are planning to travel overseas or within the country, 24/7 travel and emergency assistance services are good options to invest in. Having a travel insurance by your side, not only offers peace of mind but also acts as your lone survivor at the place that is not completely known to you.

These are some of the reasons that point towards the need of investing in a travel insurance. If you are looking to invest in an affordable travel insurance, feel free to contact our insurance brokers at Multi Risk Insurance Brokers Inc.