Sunday, 2 October 2011

Travel Insurance Canada: Only Get the Policy You Need

When you leave home, you shouldn’t have to worry about anything. If you are planning a trip this year, you need to protect yourself and your loved ones with a travel insurance policy. What do you need to know when finding a policy?

What Do Travel Insurance Policies Cover?
Travel insurance policies in Canada often cover the ticket amount for your journey, lost luggage should you happen to lose anything during your trip, and cancellation of your ticket. The cost of travel insurance in Canada often varies according to the travel distance, risks associated with traveling to the destination, and the items you bring with you. Some travel agencies may offer travel insurance as an additional fee when booking the trip, however many travelers prefer getting their travel insurance policy directly from a brokerage.

Types of Travel Insurance Policies
There are two main types of travel insurance policies in Canada: single trip policies, and annual or multi-trip insurance policies. If you are a frequent or avid traveler, obtaining a multi-trip travel insurance policy is likely the most cost effective solution. This is especially helpful for those who travel a few times a year for business. If you are a recreational traveler, who is only planning to travel once in the year, your most cost effective solution is likely to find a travel insurance policy for the single trip.

Finding Travel Insurance in Canada
When discussing travel insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. Remember, insurance brokers are there to answer your questions. So be prepared to ask questions, and be prepared to receive answers.

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