Whether it’s a business trip, a solo vacation or enjoying your time off with your family, travelling can be a wonderful and memorable experience, especially with the right plan and insurance policy. Yet, Canadians often underestimate the importance of travel insurance and assume it is not necessary. While travelling to a new country can be an eye-opening experience, it also comes with its risks. Just like booking your flight and accommodation, travel insurance is an essential part of your trip that ensures you are financially protected at all times. We are breaking down the most common travel insurance myths and why they aren’t necessarily true. Keep reading to find out more!

Myth 1: Credit Card Travel Insurance Offers The Coverage Needed

Individuals with credit card travel insurance plans may not be fully aware of what their coverage entails. More often than not, credit card travel insurance plans contain coverage gaps that are only discovered after a medical emergency occurs. Credit card travel insurance policies are not specifically tailored to fit the type of trip and financial needs for the individual which can lead to gaps in coverage. Numerous factors need to be considered for travel insurance. For instance, the length of the trip and the location play a key role in determining the best coverage. Credit card companies do not take these factors into consideration, which can lead to travellers being left vulnerable to more financial responsibility than they expected if an accident occurs. Similarly, not all credit card travel insurance policies are the same. If you are relying on a credit card insurance policy, it is essential to contact your credit card company to discuss your coverage.

Myth 2: Travel Insurance Is Only Necessary For Long Trips

A common misconception amongst travellers is that travel insurance policies are not needed for shorter trips. However, the length of the trip does not necessarily decrease the risk of a medical accident. Accidents can occur at any time, anywhere. Travelling without travel insurance can leave the traveller with no financial safety net in the case of a medical emergency. When it comes to travelling, it’s better to be safe than sorry. Investing in travel insurance regardless of the length of the trip is essential to always being financially protected.

Myth 3: Travel Insurance Is Only Important For Traveling Out Of Canada

Numerous Canadians assume that travel insurance is not required when travelling within Canada. For one, there is a common misconception that the Ontario Health Insurance Plan will cover all medical expenses when travelling within Canada. Yet, that is not always the case. Provincial health care can cover some of the medical expenses, however, any additional medical expenses that are above the limitations of your coverage are not included. Travel insurance can cover any additional medical expenses such as ambulance fees and medical services.

Myth 4: Ontario Health Insurance Plan Covers All Medical Expenses

OHIP coverage outside of Canada offers limited coverage for Ontarians and the Ontario government recommends purchasing private travel insurance to ensure you are fully covered. The limited coverage by OHIP can leave travellers with thousands of dollars in medical bills to pay. Travel insurance can provide the financial safety net for all medical emergencies that occur outside of Canada. This is particularly important for snowbirds and seniors. If a medical emergency occurred outside of Canada and required immediate medical assistance, the individual is fully covered by their insurance policy. With the Ontario government putting an end to out of country travel coverage, snowbirds without private travel insurance are at risk of paying pricey medical bills if a medical emergency were to occur.

Why You Need Travel Insurance

Travel insurance can offer you the financial protection necessary without breaking the bank. Whether you are travelling out of province or out of the country, investing in a travel insurance policy can save you thousands of dollars in medical bills should an accident occur. Even more, you can purchase the most suitable and affordable coverage for your trip so that you are fully covered in all cases. Visit our travel insurance page to discover all of our policies or speak to a trusted broker who can help you customize a travel insurance package for your trip!