Winter is a popular season for travelers, especially for those Canadians looking to get away from the cold. Unsurprisingly, the neighboring United States is the vacation destination of choice for many around this time of the year, due to its proximity with Canada and generally fairer winter conditions.
It can be enticing to take a vacation in the US without any form of travel insurance, especially since it does not take much to cross the border between both countries. The financial industry, however, is urging consumers not to tempt fate and to still secure insurance against any and all traveling risks.
Learn more about tourist insurance here.
“Often, when people travel by car to the US, for example, they feel like they are close to home so they’ll be OK,” Autorité des marchés financiers (AMF) financial education expert Anne-Bianca Morissette told
The Montreal Gazette. “But you’re really only covered under your own province’s health insurance, so a day trip to Vermont can become quite expensive if you get sick and you didn’t get travel insurance.”
The AMF has shared some tips with
The Montreal Gazette for travelers and brokers to take note of as they plan for winter trips:
Do not assume automatic coverage
All insurance policies have exclusions, even travel insurance. Some travel insurance policies count pre-existing medical conditions as exclusions, so it would be best for consumers to be upfront with their brokers about any medical conditions they have, any changes to their health prior to the trip, or if they are taking any specific medications. Brokers might want to convince their clients to be more forthcoming with their medical conditions in order to prevent higher premiums.
Travelers should take risks at their own risk
Travel insurance typically does not cover injuries that can be seen as self-inflicted; some policies will not cover injuries sustained while doing extreme sports, while intoxicated, and so on.
Customers should fully understand their coverage
Group insurance, whether through an employer or a policyholder’s credit card, could offer a modicum of travel benefits, but consumers are still encouraged to confirm how much their policy will cover.
“You have to be really careful when it comes to the length of the insurance,” Morissette explained. “Some credit cards, for instance, offer coverage for only up to two or three days, which is fine if you’re just driving to the States for the weekend, but if you think you’re covered and take off for two weeks, you could find yourself in a bind.”
Related stories:
Manulife launches simplified plan for travellers
Travel Health Insurance Association of Canada appoints new president
