"Would you like to purchase travel insurance to cover your trip?" This is like a pesty little question that we ask our clients when booking them a trip. It has really become the "would you like fries with that" of the travel industry. Not to mention a big misconception among the public, especially with the recent reports on television on how people are getting turned down when they make a claim.
Based on everything that has been reported recently, I decided to to write this blog about Travel Insurance, and try to clear the air about what is being reported, and show you that travel insurance provided by the right provider can really provide you with a peace of mind when your are vacationing abroad. My goal is to provide you with tips when buying travel insurance and to answer some of the frequently asked questions about Travel Insurance. For the purpose of this blog, I will show you the coverage provided by RBC Insurance, because I'm not only fully trained and certified by RBC Insurance to sell their policies, but also because I believe in their policies and I've seen the good it has done for clients. I believe in their policies so much that I even have purchased a full one year travel medical policy for myself, so each time I travel I have the peace of mind knowing in case of an emergency I'm fully covered.
When booking a trip, you would probably never think of purchasing travel insurance. You might even think to yourself why do I even need travel insurance? I'm a healthy individual and I don't need the coverage. Or you might even think that nothing could go wrong because you are a careful traveler. Or you may even think that travel insurance is a scam and that they only take your money and not provide you with the coverage that you purchased and was promised to you. Well that is the misconception that most people have about travel insurance. Before getting trained and certified by RBC Insurance I was like most people out there, I didn't want to spare the extra expense of purchasing travel insurance, so every time I went out on vacation I would always be more careful then I usually am to make sure nothing would happen to me, so it would take away the enjoyment of my trip as you could probably imagine. But now I know when I go on vacation, I truly want to be on vacation, so the last thing I'd want to think about are the "What IF's!!!". You know the pesky what if questions like "what if I get sick while I'm vacationing?" or "what if I fall and break my leg?" Those are just some of the questions that would be going through my head, and it would prevent me from enjoying myself. So now since I've purchased travel insurance, I have a peace of mind, and I can truly enjoy my vacation.
So you're probably asking me what are the different types of coverage out there? And how do I know if that coverage is right for me. Well allow me to shed some light on the types of coverage out there and how to know if that coverage is right for you.
Travel Medical
Travel Medical covers you while you are abroad in case of an emergency if you should require medical care. Every provider offers you different coverage, so you'll have to make sure that you purchase adequate coverage. Some providers will place a maximum cap on their policies (for example some will only cover you for $500,000 worth of coverage, which means if your medical bills go over that amount you are responsible for the rest). Some even require you to pay your bill and then apply to your provincial health coverage first, and what ever they don't cover then the insurance provider would cover the rest. Well that could take months for processing, which means your money is tied down until everything gets processed. Well RBC Insurance has come up with a solution to all of that. They provide you with Unlimited coverage while traveling (so you don't have to worry about having a maximum cap to stay under), and they also deal with the provincial health providers on your behalf so you don't have to worry about your money tied down and having the hassle of filing paperwork.
Trip Cancellation & Interruption
This coverage will protect you not only before you travel but also during your travel. This is a great policy to have especially if your trip is days, weeks, months or even a year away, since you never know what could possibly happen down the line that would force you to cancel your trip. You don't want to have to cancel and lose all your money on a trip that you can't even enjoy, or you don't want to be away and be delayed for any reason and have to pay out of pocket for accommodations, or even another ticket to make your destination. Trip cancellation will cover you if you have to cancel for any reason (as long as it's not I've changed my mind and just don't want to go), and trip interruption will cover you if your trip is interrupted for any reason beyond your control (for example the volcanic eruption in Europe).
With this insurance you want to make sure of the provider's coverage amounts. RBC Insurance will cover you for the full amount of the trip prior to departure, and they provide you with Unlimited coverage after your departure. So if you get stuck in another volcanic eruption and have to get accommodations, you don't have to worry about losing money.
Flight & Travel Accident
Flight & Travel Accident insurance covers you for death, dismemberment, loss of sight in both eyes or complete and irrecoverable loss of speech or hearing due to an accident during your trip. The amount of coverage provided by different providers varies, RBC Insurance will provide a total of $150,000 in coverage for both flight accident & travel accident ($100,000 for flight accident, and $50,000 for travel accident).
Baggage & Personal Effects
This insurance provides protection from the loss or or damage to your baggage and personal effects caused by theft, burglary, fire or transportation hazards anywhere in the world. Coverage also provides reimbursement for necessary toiletries and clothing when your baggage is delayed. RBC Insurance provides you with total of $1,400 in coverage.
Rental Car Physical Damage
This insurance provides coverage for loss or damage to a car you rent worldwide for 60 consecutive days or less. Coverage offered by RBC Insurance is $50,000.
I hope that some of the explanations that I provided about the different coverage helps you with understanding your options when it comes down to travel insurance. If you are still skeptical about purchasing travel insurance, let me give you some tips on purchasing travel insurance.
1. Please read your policy information very carefully.
2. Review and understand all relevant policy exclusions and limitations: pre-existing conditions, alcohol abuse, non-emergency treatment and criminal acts.
3. If you have a pre-existing medical condition or questions about your health, please refer to your policy information. In particular, please have a clear definition of Stable.
4. Make sure the insurance coverage you purchase covers the full duration of your trip.
5. If you have any questions about any of the policies, please consult a trained and certified travel consultant or your insurance provider.
Here are some frequently asked questions about travel insurance and policies:
Q. Is travel insurance mandatory?
A. Travel insurance is certainly not mandatory, but it is definitely recommended. It will provide you with a peace of mind that you are covered for all the "what if" moments.
Q. How much will travel insurance cost me?
A. The cost of travel insurance will vary based on the age of traveler(s), the purchase price of the trip, as well as the length of coverage.
Q. Do I need to fill out a medical questionnaire?
A. If you are over the age of 60 you will have to fill out a medical questionnaire only if you are purchasing out of country medical coverage.
Q. Do I need to purchase cancellation and interruption and medical coverage separately?
A. You don't need to purchase those two separately, as there are packages that will offer you both coverage for one low price.
Q. Will the policy cover me for all my medical expenses until I return home?
A. The policy is designed to cover you for all emergency care while traveling. For example, if you fall and break your leg at your destination point, the initial emergency treatment will be covered. However, ongoing routine management care will not be covered.
Q. My new fitness regime is really paying off-I had my yearly physical and my doctor decreased my heart medication. I am booking a business trip soon. Should I have concerns about coverage?
A. Yes. The insurance coverage excludes pre-existing conditions that aren't stable. A change in medication, either increase or decrease in the dosage, discontinuation or how often you take the medication or the type of medication means the medical condition is not stable.
Q. I've had recurring pains for weeks. My doctor said it's probably nothing serious, but she'd like to run some tests. I have to book my flight now. Will the insurance cover me if I need to cancel?
A. No. The insurance excludes medical conditions and/or symptoms which are under investigation where or not a diagnosis has been determined. Please refer to your policy for more information, and in particular, the policy definition of stable.
Q. I'm traveling with my family (my wife and kids), is there a special family rate?
A. Yes. You can purchase emergency medical family coverage. This means your children are insured when they travel with you or join you during your trip.
Q. We booked our cruise for next year and are entitled to a full refund in the event we have to cancel. The cancellation penalties come into effect about two months prior to our departure. What's the point in buying insurance now?
A. I strongly recommend that you purchase your insurance when you make your initial deposit because it protects you from the moment the policy is issued. If you wait and purchase your policy at the time the penalties come into play, you run the risk that a medical condition might not be considered stable if you were having symptoms or investigations within the 90 days prior to purchasing the policy.
Q. What happens if I am unable to obtain appropriate report to substantiate my baggage claim?
A. As an insured you are are required to make every effort to obtain proper substantiation as outlined in the policy. If the required supporting documentation is not provided it may result in a non-payment of the claim. The insurance company reviews all relevant circumstances, especially those outside your immediate control and evaluate each case on its merits.
I hope that this blog proves useful to you and takes out some of the misconceptions about travel insurance. When it comes down to purchasing travel insurance, please always consult a trained and certified travel consultant. We are trained and certified to answer all of your questions and make sure that the correct policy is issued to you, so you are not left with a huge medical bill. If there is a question that we cannot answer, we will be sure to look further into it and find the right answer. So please read my tips carefully and again consult a trained and certified travel consultant or the insurance provider if you should have any questions.
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