04 Dec Traveling without travel insurance? It’s a horrible idea!
We are sometimes ready to do anything to save money. Especially if we had to scrape the bottom of the barrel to be able to afford our latest trip to warmer climates. That’s why purchasing travel insurance is often the last on our list of priorities. Also since nothing bad has never happened to us in the past so why worry this time?
No, it doesn’t happen only to others
Nobody can know when our luck will run out and be replaced with a string of bad luck. So leaving for several days away without any travel insurance is tempting fate. Once the accident or unexpected health problem has occurred, we will not be able to go back
The cost of travel insurance compared to the potential costs in medical bills or fees of all kinds if the unthinkable happened is minimal.
Coverage needed when traveling
- Emergency medical care
- Trip cancellation and interruption insurance
- Accidental death or dismemberment insurance
- Baggage insurance
An example of healthcare costs outside Canada
Laurie is hospitalized for eight days after coming down with pneumonia while on vacation in South Carolina. According to the following chart, she would have to pay $36,133 if she didn’t purchase insurance covering such an illness before she left.
What about the Régie de l’assurance maladie du Québec?
The Régie reimburses only part of the cost of health services outside Québec. It is therefore important to take out travel insurance that will cover services the Régie does not pay for.
Did you know?
- Emergency transportation by ground or air is not covered by the Régie.
- Drugs purchased outside Québec are never reimbursed by the Régie, even if prescribed by a physician.
Travel insurance via a credit card
Some credit cards include travel insurance. Check how long the coverage lasts: Some credit cards provide travel insurance through an insurer, but for very short trips, such as for 48 hours or for only a few days.
Make sure the travel insurance offered under your credit card covers your entire trip outside Québec.
Travel insurance via a group insurance
Travel insurance is sometimes included in group insurance offered at the workplace. However, you should keep in mind that even if coverage is mentioned in the contract, you should know the conditions and the limits and exclusions of your group insurance. This insurance might not cover you adequately.
Finally, you should always notify your insurer if you have or have had health problems.
Jackie Beaudoin, Leclerc Insurance and Financial Services
Sources: Transport Canada, Le Devoir, Economobile