What You Need to Know About Travel Insurance

Have you or someone you know experienced these travel pain points?  Canceled bookings; waiting endlessly when contacting customer service for refunds; wondering what will happen if you’re left stranded and out of pocket for unexpected expenses? 

The pandemic has taught us that there is an increased need for everyone to take precautions against unforeseen circumstances now, more than ever before.  The Canadian government has, in the past two years, announced numerous travel advisories almost without notice, resulting in travelers scrambling to recoup lost expenses, postpone trips, and oftentimes left in limbo and without clear answers. 

As the skies open, prioritizing protection during your travels can help you enjoy your trips with few interruptions and out of pocket expenses.  Many of us have experienced this familiar routine prior to a vacation: We count down the days to our highly anticipated trip, leaving us to forget those last-minute details until the day or two before departure. Then, we suddenly realize we overlooked a better travel insurance plan because we’re under the impression our employer or credit card provides just enough coverage for that getaway.  Know that while this is common to assume there’s some sort of insurance associated with either, the coverage is usually a one-size-fits-all package that might not work in your favor.  Insurers have designed protection in order to serve you with your health and safety in mind and at every stage of your trip.  Afterall, tailored coverage can place you in a better position should you ever need to use it. Emergency medical situations can lead to expensive bills prior to as well as during your trip so make sure you’re aware of how to mitigate those situations so you can enjoy that well-deserved vacation. 

It’s unfortunate that many travelers just aren’t well educated on what protection they assume is offered, including what situations are covered (particularly Covid-19 coverage), who is eligible or ineligible, the limits of coverage, and the varying costs of treatment in different countries that can be excessively high.  These important details aren’t always made clear to a traveler who may have only skimmed the marketing brochure that came with the credit card or employee healthcare plan.  As the world embraces the return to travel, we are still blanketed by the pandemic as well as its effects it has on our trips.  

Stratis Insurance Advisors educate you on options in order to protect you at every stage of your trip. This includes Covid-19 Insurance that covers emergency medical expenses, transportation to the nearest appropriate medical facility, quarantine meals and accommodation, and denied boarding – situations which have been huge obstacles during travel in 2020 and 2021.    

Why Do You Need Travel Insurance? 

Travel insurance is designed to cover losses arising from sudden and unforeseeable circumstances due to an emergency.  Imagine you book a luxury cruise that costs $8,000.  The day before departure, your father suffers a serious fall and is admitted to the hospital.  You contact the cruise line to explain the unfortunate situation. The customer service representative sadly advises you there is no option to reimburse your prepaid expenses.  He directs you to the cruise line’s company policy that clearly states there are no refunds for cancellations within 14 days of departure. 

When you secure travel insurance that includes trip cancellation benefits, you’re able to receive a reimbursement for prepaid, nonrefundable trip costs when you need to cancel for a covered reason which can include situations such as a covered serious illness or injury of the insured person, a travel companion or a family member; the death of the insured traveler, traveling companion or a family member; or a natural disaster or other event that leaves your destination uninhabitable.  

Imagine another scenario: On a driving tour through Peru, a truck collides into your rental car, leaving you with a broken arm and some major injuries.  When you arrive at the hospital, you are asked to pay up front for treatment and later discover the medical bills rack up into the tens of thousands.  If it was deemed necessary to arrange medical evacuation, you could have been provided a bill of nearly $200,000, depending on the country you’re in and the proximity to the nearest hospital.  It’s important to keep in mind that a lot of medical facilities overseas require cash payment up front and the costs of medical expenses vary drastically from country to country.  Emergency medical transportation benefits can pay for medically necessary transportation to the nearest appropriate medical facility, as well as the cost of getting you home following a covered injury or illness. The right travel insurer may even be able to arrange payment in advance for covered emergency medical care.  If you experience a more severe medical emergency and require additional days to recuperate, coverage is available for up to 15 days even when you’ve already returned to your home province!  This extension allows for a better chance of full recovery and this is a prime example of why your credit card or workplace healthcare policy pale in comparison to the specialized coverage offered by travel insurers.    

Consider a third scenario: You’re in a remote part of Bali, soaking up the beautiful sunshine. You end up dozing off for a few hours and wake up to an intense sunburn that causes blisters, swelling of the skin, fever and chills. Your travel companion attempts to Google “hospitals near me” but you’re miles away from the nearest big city with few reliable options to commute there.  Securing the right travel insurance plan means having a travel insurance team that can identify the best options for care by researching their worldwide database, consulting with local agents, and speaking to locals, depending on what the situation requires.  Your team finds the best local medical providers quickly and in this scenario, they’ve found a qualified physician in the next town over.  They also arrange for the doctor to see you in your room because, after consulting with resort staff, the team learns the doctor makes house calls.  You breathe a sigh of relief knowing medical treatment is quickly on its way as you remain in the comfort of your room.      

For travelers who enjoy nature and road trips, imagine you fly to Arizona with your pet, rent a vehicle down there and unexpectedly get bit by a rattlesnake during a morning hike.  If you’re in the hospital for a few days and are unfit to drive home, travel insurance would cover the return of the rental vehicle as well as the return of your beloved pet and excess baggage.

Travel insurers understand very well the range and magnitude one may experience as well as challenges the pandemic has caused. Therefore, they’ve worked relentlessly to tailor protection so you can have peace of mind as you embark on your trip.  Digitization of travel insurance services have also been implemented to provide fast support.  Should you need to submit a claim, you can do so online.  24/7 Telemedicine Service is available with the right policy, making it exceptionally convenient when seeking medical advice at any time of day or night for common ailments right from the comfort of your hotel or Airbnb.  

Communicating in Another Language 

Google Translate and other apps may be helpful when asking for directions or ordering a coffee, but it may be frustrating using them when having real-world conversations.  A 24-Hour Assistance Line can provide an interpreter over the phone and even create a conference call with a third-party to allow for seamless conversations.  With the proper travel insurance plan, you’re offered a diversity of language options.  

Frequent Jet-Setters

Do you travel often on business?  Do you have a vacation home or rental in the U.S. that you routinely check up on?  Are you a student who studies abroad and visits family once every couple of months?  Multi-trip plans are exceptional choices and often more cost-effective for individuals who travel several times a year.  If you anticipate embarking on more than two trips per year, your most cost-effective travel insurance option may be the Multi-trip plan which protects your travels in a 365-day period.  

Rental Car Protection 

You may be aware that ICBC doesn’t provide coverage for rental vehicles outside of Canada and the United States. Fear not! We have solutions to save you time that won’t hurt your wallet. Rental car protection is a great plan for physical damage to a rented or leased automobile anywhere in the world while the automobile is in your care, custody or control or of those persons permitted to operate the automobile under the terms of the rental or lease agreement. This includes the reasonable general average costs of towing, salvage, fire department charges, custom duties and the reasonable loss of use of the rented or leased automobile for which you are responsible.  

When Should You Purchase Travel Insurance?

You should purchase travel insurance as soon as you make payments for flights, hotel, Airbnb, or any tours.  Never leave this to the end as you’ll most likely be inundated with last-minute errands and run the risk of overlooking this necessary addition.     

Speaking directly with a knowledgeable advisor at Stratis Insurance gives you access to quick and immediate results.  You’ll be presented with simple, easy-to-understand options so you can secure the best coverage.  Consider these questions before your next trip: 

• Were you offered proper coverage while travelling during the pandemic? 
• How important is it for you or your travelling companions to receive specialized care and coverage on a trip?
• Did you receive convenience with a travel app that offered access to local emergency services numbers, a medical dictionary with internationally recognized names of common prescription medications, translation assistance with popular first-aid terms in over 15 languages, or a GPS locator to find an accredited local hospital at your travel destination?

When wondering if travel insurance is worth it, consider the value of proper support before, during and even after your travels.  No matter how detailed your trip may be, obtaining coverage is quick and convenient.  The right protection can alleviate massive costs of a medical emergency overseas as well as provide peace of mind from a great team of experts.   

Have further questions?  Connect with a Stratis Insurance Advisor today and visit our LinkedIn, Instagram and Facebook for updates and tips!