When you’re young, hopping across the border without a care in the world is easy. Day trips to the US, weekends in Las Vegas, or even a quick European expedition all feel within reach. When double-checking that you have everything you need for your next adventure, make sure you don’t forget to pack your travel insurance!
Even if you’re young and healthy, accidents and sickness can happen to anyone—and the right travel policy can help you keep the good times rolling. Here are five reasons why you need travel insurance:
1. Travel is expensive and your investment needs to be protected
Even with discounts, packages, deals, and rewards programs, travel can be expensive. Recent graduates or young people just starting their careers often find that they spend a long time saving up for trips, even though they want to travel for cheap.
Travel usually requires careful budgeting and planning, especially when going to multiple destinations, so it’s a good idea to do everything you can to ensure your trip goes as smoothly as possible. The right travel insurance policy can help protect you from unexpected costs from delays, flight cancellations, and even an unexpected illness or death in the family.
Trip cancellation and interruption insurance is a great way to offset the costs if you find out that you need to cancel your entire trip or if you need to come home early. Likewise, if you’re trying to save a few extra dollars and don’t intend on cancelling your trip, Trip Interruption insurance can be another great option. This coverage protects you from travel mishaps that happen after you’ve already left on your trip.
2. Your provincial health plan doesn’t fully cover you out-of-province
If you’re Canadian, you’re fortunate to have medical coverage under your provincial health plan. However, if you get sick or injured while travelling outside of Canada, your provincial health care coverage usually pays for less than 10% of the total cost of your medical treatment. This means that your out-of-pocket expenses for a doctor’s visit or hospitalization can add up fast.
Each province pays a different amount towards claims that happen outside of Canada, so make sure you know what your provincial health plan contributes.
Did you know that even if you’re only travelling to a different province, your provincial health plan may not cover all of your expenses? Things like ambulance costs, prescription medications, and physiotherapy aren’t covered by your provincial plan, which is why purchasing a policy for trips within Canada is a good idea.
3. Health care costs can be a financial strain
Finding out just how much health care can cost, especially when travelling to the US, is shocking! The average cost of just one day in an American hospital can cost $16,000, and something like a broken bone can quickly amount to thousands more in up-front payments.
If you’re wondering whether or not the cost of travel insurance is worth factoring into your trip budget, here’s a real-life example of a medical claim:
18-year-old Andy travelled with his family to Oregon. While riding his dirt bike over a sand dune, he flew about 25 feet, landing awkwardly on his feet. When the ambulance arrived, he was having difficulty feeling his lower extremities.
As a result, an air ambulance was required to take Andy to the nearest trauma hospital. In Emergency, he was diagnosed with two compressed vertebrae in his lower spine, a fractured femur, and a mild concussion.
Andy required emergency surgery to repair his femur, and doctors waited to see if permanent spinal damage had occurred. Andy spent 17 days in hospital before being air ambulanced back to a Canadian hospital equipped to care for his spinal injuries. Due to his serious injuries, his family stayed at his side and incurred additional accommodation and food expenses.
| Hospital Fees | $276,459.17 |
| Doctor Fees | $43,312.30 |
| Radiology Fees | $7,865.12 |
| Ambulance Fees (Ground and Airlift) | $27,943.18 |
| Air Ambulance Fees | $25,400.00 |
| Additional Out-of-pocket Expenses | $3,653.85 |
| Provincial Health Insurance | – $3495.15 |
| Total cost of the claim | $384,633.62 |
Andy’s provincial health insurance only covered $3,495.15, luckily his TuGo travel insurance was able to cover $381,138.47!
4. Baggage mishaps can also happen
For some, one of the most nerve-wracking parts of air travel isn’t the takeoff or turbulence; it’s standing by the baggage carousel, anxiously awaiting the arrival of their bag. In recent news, there’s been a lot of talk about travellers reaching their long-awaited destinations and their luggage wasn’t there. Though it’s a good idea not to take anything irreplaceable on vacation, TuGo’s baggage insurance add-on can help you replace your things if your luggage is lost, stolen, delayed or damaged.
5. Health care in Canada isn’t free for visitors
It’s a common myth that health care is free in Canada for everyone since residents are covered under a provincial health plan. But if you’re a visitor to Canada, you won’t be covered under a provincial health plan. This means that you’re financially responsible for any medical emergencies or accidents that might happen, so having travel insurance as a safety net can help protect you from unexpected costs. Read our Visitors to Canada Insurance blog post or get in touch with your trusted insurance professional to learn more!
Buying travel insurance can seem confusing when you’re just starting out. That’s why we’ve prepared The Complete Guide to Buying Travel Insurance to help you ask the right questions and choose the policy that fits your needs and budget.
Safe travels,
Angie
