Travel insurance should you or not? - Part 1

Why should we purchase travel insurance?

How much coverage does one need? 

Where do you get reliable travel insurance?

We are being faced with these questions over and over and over again…

Did you know that your Canadian health insurance is “almost” certainly not valid outside of Canada?!

Yes, your provincial health plan may cover nothing or very little portions of the costs on medical care abroad!

Well, we’ve all heard the horror stories of foreign hospitals being extremely expensive, and how one may have to pay cash upfront. This can mean that you can accumulate years of debt trying to pay off the costs of treatments suffered abroad. The Canadian government will not pay your medical bills.

Therefore, we should always read the fine print. For example, what if insurance that was taken out had expired a few weeks prior and then an accident happens? Well, the person had to raise $300,000 over a three-day period to cover the costs of that medical emergency. Fortunately the person recovered, however, they were left with a hefty amount to pay. So, how much coverage does one need?

Well, your travel insurance should include: health, life and disability coverage. This will help you avoid large expenses. Ensure that deductible costs are clearly explained, and that your coverage has provisions for:

  • Pre-existing medical conditions
  • Medical evacuations
  • Costs of a medical escort

Always always verify the coverage. Here's another example: Someone travelled to the Dominican Republic for a one-week getaway with their sibling. She was 34 weeks pregnant. A few days into the trip, she went into early labour and was transferred to the hospital where she had an emergency caesarean, and then she was transferred back to Canada. Well, the insurance would not pay the transfer costs, leaving them with a $75,000 bill. Unfortunately, they did not review the policy before leaving. Word to the wise: Most policies do not automatically cover pregnancy-related conditions.

Montreal Event Planner has become the go-to authority in the event planning business, not only because of its reputable success, but also because of the expertise and professionalism of owner Daniela Caputo, who combs the globe on a regular basis to find the best destinations for her clients (and our readers!).