Have you been debating whether or not to purchase travel insurance? There’s lots to prepare before you embark on your next adventure, full of new experiences and unforgettable moments. Whether travelling solo, backpacking across Europe, planning a family vacation to Disney, or travelling for work, one thing remains constant: the importance of travel insurance.
Having previously worked in the insurance industry, I’ve heard lots of horror stories over the years of travelling without insurance. If an unfortunate event, emergency or delay occurs, it could potentially cost you thousands of dollars out of pocket, without the proper insurance coverage.
There’s many insurance options to choose from and choosing the right travel insurance plan can be confusing.
But have no fear Elle is here!
We’ve researched some of the top travel insurance companies in Canada to help with your needs! From understanding coverage types to comparing policies, let’s ensure your travels are not only memorable but also worry-free!
Coverages to Consider
Not every travel insurance company offers the same coverages. From emergency medical trips to cancellation protection, there’s many options to consider.
Some of the most common coverages you may want:
- Medical Emergency: If you get sick or injured while travelling (i.e. hospitalization, doctor visits, prescription medication or even emergency medical evacuation), can end up costing you thousands of dollars out of pocket without coverage!
- Trip Cancellations/Interruptions: If there’s an emergency and you’re unable to make your trip due to an illness, bad weather or delayed flight, you may be eligible for compensation.
- Loss/Stolen Baggage: One of of the most common coverages used is for stolen, lost, or delayed luggage. I feel like everyone knows that one person who’s had their luggage delayed-and if there’s a theft, it could be costly to replace the items. Also, if your baggage is delayed, you may be eligible to receive compensation for travel necessities like clothes and toiletries.
- Travel Delays: Besides bad weather, sometimes a trip can be delayed due to late flights or staff shortages. It’s actually happened to me twice, both times the flights were delayed over 6 hours and overnight.
- Emergency Evacuation: If there’s an emergency, like natural disasters or political unrest, some coverages can protect you from these occurrences by reimbursing you if your trip is cancelled or cut short.
By having comprehensive travel insurance coverage, you can reduce these risks and enjoy peace of mind knowing that you’re financially protected against unforeseen events that may disrupt your travel plans.
*Sidenote 1: The Canadian Transportation Agency (CTA) regulates terms and conditions in Canada. If your flight is delayed over 4-6 hours you may be eligible for compensation, depending on the airline, up to $700.
Which Travel Insurance Company to Pick?
You may be tempted to buy the cheapest plan but there’s here’s some things you should consider:
- Age: Depending on your age, you may not be eligible for coverage. Most companies have clauses if aged 65 years old or higher where coverage is not provided or coverage has limitations, like coverage only for the first 15 days of travel.
- Pre-Existing Conditions: If you’ve had health issues and are purchasing a new policy, make sure coverage isn’t excluded! Conditions like chronic illness, ongoing medical treatment or if diagnosed or received treatment prior to your trip, could cause you to be ineligible. Additional requirements might be needed like a medical questionnaire.
- Deductibles: When you make a claim, there’s usually a deductible, an amount you have to pay before the insurance kicks in. Make sure to find out how much it is before you open a claim, sometimes your deductible is more than what the claim is worth!
- Coverage Limits: Each policies’ terms & conditions will show the maximum limits you’re covered up to and any limitations to each coverage. Just remember- Just because it’s less expensive than a competitor, doesn’t mean you have the same coverage amounts like liability (if you’re sued due to injury or accident) or emergency expense limits.
- Exclusions: All policies will have exclusions, so it’s always a good idea to read through the full policy wordings.
Make sure to thoroughly read and understand the policy’s exclusions, limitations, and eligibility criteria before purchasing travel insurance. Some companies may also offer specialized policies, at an additional cost that may provide coverage for specific age groups or pre-existing conditions. Make sure to explore different options to help you find suitable coverage for your needs.
*Sidenote 2: In the event of a claim, make sure to keep receipts, take photos and provide proof of loss for reimbursement. Contact your insurance provider as soon as possible!
1. CAA
CAA is a reputable company that provides an extensive list of coverage options to tailor to each customer’s needs. If you already have a CAA membership, you will receive an extra 20% of your insurance.
PRos
- If you sign up for a CAA membership you receive all those benefits, plus you can receive an extra 20% off your travel insurance
- Coverage options for non-Canadian residents to cover study, work or vacation time
- Extensive travel coverage including dental work and pet coverage
- Choose from Single-Trip or Multi-Trip pass depending if you’re going on 1 or several trips in a year
- Insures ages 65 years+ as well as some pre-existing medical conditions
- 24/7 assistance
Cons
- Once you reach 60+, premiums increase every 5 years
- Medical questionnaire required for pre-existing conditions, so if you’re buying travel insurance last minute, you may not have enough time to see if you qualify with a pre-existing condition
- Coverage can become pricey depending on the plan you select
Website
2. Blue Cross Travel
Another reputable company is Blue Cross as they offer Group benefits and Life insurance. They offer a wide range of options to protect domestic and international travelers.
Pros
- Wide range of comprehensive coverages including hospitalization and prescriptions
- Coverage includes flight delay, if delayed 3 hours or more
- 24 hour travel assistance and worldwide support
- Blue Cross members can receive additional discounts off travel coverage
- Coverage for visitors to Canada
Cons
- Non-resident visitors may have higher premiums
- Coverage restrictions and higher premiums depending on age, pre-existing medical conditions and length of trip
- Coverage excludes extreme sports/activities
Website
3. World Nomads
World of Nomads was founded in 2002 by passionate travel enthusiasts looking for coverage for extreme sports. They provide coverage for over 150 activities not usually covered by other travel insurance companies like bungee jumping and zip lining!
Pros:
- Covers extensive list of extreme sports like sky-diving, scuba-diving and rock climbing
- 2 plans to choose from; Standard and Explorer
- 24/7 travel assistance
Cons:
- No “cancel for any reason” coverage
- Restrictions to coverages and limits, much lower than CAA and Blue Cross
- Cannot insure ages 70+, would need to go through their sister company TripAssure
- No coverage if you have pre-existing medical conditions
- No coverage to countries with travel advisories
Website
4. Allianz
Allianz travel insurance is known to offer an extensive list of coverage options with higher coverage limits than most other companies! The company is international and works directly with airlines and travel agencies.
Pros
- 10 different insurance packages to choose from
- Flexible cancellation plans, you can receive up to 80% reimbursement due to unexpected events
- OneTrip premier policy includes up to $1m emergency medical coverage and covers children 17 and under for free
Cons
- If you need to cancel your trip, you must call customer service as the request cannot be processed online
- Less medical expense coverage than other companies, with a maximum of $75,000
- Could be long wait times to connect with customer service
- No coverage for missed connecting flights
Website
5. Manulife
Manulife is one of the top travel insurance companies in Canada, that offer up to $10,000,000 emergency medical coverage (most companies offer $5,000,000)! With a wide range of coverage options, they offer easy to understand plans.
Pros
- 4 plans to choose from
- Covers up to $5,000,000 Covid related costs, even if there’s a travel advisory
- 24/7 worldwide travel assistance
- Plan for students within and outside of Canada and visitors from other Countries
- Refund for medical plans, if you change your mind before your trip
Cons
- Pre-existing medical conditions only covered through their TravelEase option
- No coverage for any reason cancellations
- Need to call Manulife before opening medical claim or may be charged a 20% out of pocket expense
- Medical questionnaire required if aged 60+
WebsitE
6. SoNomad
A newer company in the Canadian market, SoNomad offers budget friendly plans and Covid coverage, that most companies have restrictions to! They strive to provide a simple online experience to their customers for quick insurance coverage!
Pros
- Low-budget rates, can save up to 45% compared to competitors
- Free trip delay incase you need to change your travel date
- Offers snowbird packages
- Multi-trip coverage plans
Cons
- Newer company, may be more strict with claim payouts
- Limited coverage for extreme sports
- Pre-existing medical conditions will have higher premiums
Website
Which One Will You Choose?
Now that you’ve learned what to look for, you can choose the best travel insurance that align with your travel needs!
Compare quotes, coverages, and read consumer reviews to help you find a policy that offers the coverage you need! With the right travel insurance in place, you will be prepared for unexpected events and can focus on enjoying your trip to its fullest!
Check out The Best Travel Credit Cards in Canada to see credit cards that include travel insurance coverage!
*Please note I have no affiliations with these companies, and the information can change at any time. In order to qualify for most of the coverages, the purchase of the trip must be made with the same credit, the same applies for any warranty/phone protection. Please make sure to check all exclusions and limitations on each website for full credit card conditions.
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