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Travel insurance Canada is a type of insurance that offers protection to travelers. When you travel abroad, there are many potential risks that can lead to losses. Your return plane trip may get suddenly canceled leaving you with additional airfare to buy. Loss of baggage, a sudden illness or accident leading to hospitalization, and death are risks that can cause serious losses. Getting a travel insurance policy ensures you will be compensated for any such losses. This insurance can be taken whether you travel domestically or are going abroad.

Why Buy Travel Insurance?

It is essential to buy travel insurance considering the many risks that you can face when you travel, especially while traveling abroad. You must know that the health insurance you have is valid only within the country. When you travel abroad, if you fall ill you won’t be covered by health insurance. If you meet with a condition requiring hospitalization, surgery, or ICU admission then the costs can be exorbitant. You will be forced to spend a lot of money and this can affect your finances.

If you are stuck in a foreign country due to a sudden cancellation of your flight, you need to book another flight. This is expensive, especially for people who travel on a strict budget. Loss of baggage would mean you need to spend on essentials thus having to spend money. Considering the huge losses you may incur, it is advisable to buy travel insurance. We live in uncertain times and hence it is always better to have travel insurance especially when you travel abroad.

Basics Of Travel Insurance

Travel insurance is offered by insurers in different ways. If you are going for a holiday abroad you can get insurance to cover only that particular trip. If you travel a lot, then you can get insurance with annual validity, so you remain covered at all times. Depending on your needs, you can decide the type of travel insurance. The premium to pay depends on the insurance coverage, your age, the destination, and the cost of the trip.

On average, the premium for travel insurance is between 4 to 10% of your trip cost. Depending on your needs, you can get various inclusions. For instance, sportspersons may have special needs that need to get covered.

The coverage for your travel insurance policy would include the following (varies from one insurer to another and your needs):

• Cancellation of the trip or interruption in the trip.

• Loss of baggage and personal effects and damage to belongings.

• Medical expenses due to illness and hospitalization (includes the cost of travel back to Canada).

• Flight accident and death.

• Replacement of passport.

• Cash assistance.

• Re-booking of flights.

Getting The Best Travel Insurance Policy

You need to shop around so you can find the best travel insurance Canada policy. Get quotes from different insurers and compare the rates before deciding. Working with an insurance broker and visiting their website will help you make a detailed comparison. This will help you in getting the best policy that meets your needs.

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