Travel Insurance: Best Canadian Travel Insurance Companies in 2022-2023

Best Canadian Travel Insurance Companies
It’s vacation time! You’ve packed your bags, planned your trip, and set your “out of office” message. Next stop, Canada! What about travel insurance, though? There’s never been a better time to include travel insurance in your vacation itinerary. Whether you’re planning a long-awaited vacation or a last-minute escape, travel insurance can help you save money, time, and irritation if something goes wrong.
Looking for the best way to get started? This piece will cover some of the best travel insurance providers in Canada, the benefits of using them, and why they are necessary in these times.

So, what exactly is travel insurance?

Travel insurance is a sort of protection that covers the costs of unexpected or unplanned events while on vacation. These charges can range from minor inconveniences like misplaced or delayed luggage to more costly services like a clinic or hospital visit. In addition, travel insurance often covers health and medical expenses and trip cancellation and disruption costs for any single or multi-city journey. Everyone, including Canadians, requires travel insurance. It’s something you should consider when planning your trip, just like food and lodging. It is critical that you are protected whether travelling outside of your native province or territory in Canada or when travelling internationally.

Why Should You Get Travel Insurance?

Many travel insurance companies now provide assistance services in addition to cash protection. These added measures can be useful if you need to reclaim a lost or stolen passport, get a translator, or find the nearest hospital. Make sure you have the number on your journey because some of the finest travel insurance policies include a 24/7 emergency assistance number. Phone consultations with doctors have grown widespread since the Covid-19 outbreak began. As a result, several travel insurance plans now include “telemedicine” or virtual medical aid services. Not to go to the hospital until absolutely required.

Pro tip: Check whether an insurance plan you’re considering includes phone-in doctor visits, so you don’t have to go to the doctor.

Top 8 Best Candian Travel Insurance Providers in 2022-2023

Overall, the best travel insurance for Canadians is tailored to your specific travel requirements. No two dream vacations are the same, and travel insurance is no exception. Different carriers offer different benefits depending on a range of parameters, such as the length of your journey and your origin province. We’ve broken down the crucial data for some of the best Canadian travel insurance carriers. So take a look and discover what fits your needs!

1.     World Nomads: Best for Adventurers

Backpackers, lone travellers, and budget travellers prefer World Nomads travel insurance. The company covers more than 200 adventure activities, and the Explorer Package includes medical insurance worth up to $10 million. World Nomads is a travel insurance plan that covers a wide range of adventure sports, activities, volunteer/work experiences, and sporting equipment delay, loss, or theft. You also have access to a 24-hour helpline that provides information for adventure travellers, such as weather bulletins and travel advisories, and help to find a route or a gear shop. In addition, emergency medical expenses up to $5 million, emergency dental, trip cancellation/interruption/delay, baggage delays/theft/damage, and more are all covered under the regular coverage. The disadvantage is that you must be under the age of 66 to qualify.

2.     Allianz Insurance

Allianz Global, formerly known as Mondial Assistance, is a global leader in travel insurance that provides comprehensive coverage for Canadians. Other benefits include:

  • A 24/7 phone line.
  • An in-house medical team.
  • Travel insurance coverage packages for travellers to Canada and a global network of 75 nations.

For added convenience, Allianz Canada offers the TripWise travel insurance app.
Because coronavirus has been classified as a “known occurrence,” Allianz will not cover trip cancellation or interruption insurance due to Covid-19 as of March 11, 2020. Additionally, if a Global Affairs travel advisory affects your departure date, emergency medical coverage connected to Covid-19 will not be provided on packages purchased on or after March 11, 2020.

3.     Best for Families: CAA Travel Insurance

The Canadian Automobile Association is a charitable organization that provides Canadians with roadside assistance, travel insurance, and other travel-related services. While membership is not required to acquire travel insurance, it does provide members with a 10% discount on CAA travel insurance. CAA insurance packages differ by province, from BCAA (British Columbia Automobile Association) to CAA Atlantic, as with other suppliers.

CAA is a long-standing Canadian institution that provides flexible travel plans to fit all types of travellers and vacations, but their policies are especially beneficial to families. Their standalone emergency medical policy, which covers up to $5 million in medical expenses, is exceptionally comprehensive, including medical repatriation, emergency dental and pet care, and kenneling reimbursements.

The Vacation Package Plan includes full cancellation and interruption insurance, family transportation, and kid escort during emergencies; excellent for prepaid, all-inclusive vacation packages. CAA travel insurance is available to anybody, although members receive a 10% discount.

CAA’s emergency medical plans now cover COVID-19-related diseases for vaccinated passengers travelling during a Government of Canada-issued Level 3 (avoid non-essential) travel advisory. Coverage is up to $2.5 million if just partially vaccinated, and up to $5 million if fully vaccinated.

4.     Blue Cross; the Best option for retirees and seniors.

Blue Cross has been in business for over 70 years, and one in every four Canadians uses their travel insurance. Blue Cross’ emergency medical coverage is roughly $5 million. In addition, it offers specific “snowbird” travel insurance packages for Canadians who spend part of their year in warmer climates, making it suitable for retirees. If your flight is delayed, the recently developed Serenity Service is included in the package as a free bonus that provides you access to an airport lounge or even a hotel room (depending on the length of the delay). Unfortunately, in most cases, pre-existing conditions are not covered.

Depending on where you live in Canada, you may be qualified for Blue Cross travel insurance that includes coverage for Covid-19-related occurrences. You should apply for insurance coverage before your trip departure date and for the duration of your vacation in most cases. If your province allows you to be covered by Blue Cross Insurance for Covid-19-related occurrences, your region will have its own rules. To find out what limits apply in your area, go to the Blue Cross Canada website.

5.     Best for Budget Travelers: Travel CUTS Bon Voyage Insurance

Travel CUTS Bon Voyage Insurance offers incredibly affordable travel insurance packages starting at $1.36 per day, and it’s been my “go-to” travel policy for years. Yes, it’s aimed toward students (for example, you can switch your travel dates for free due to an exam scheduling problem), but anyone aged 15 to 50 can buy coverage.

Hospital and medical coverage up to $1 million, dental care, air ambulance evacuation, flying accident, accidental death or dismemberment, and trip interruption/cancellation insurance are all included in the base package. Extreme sports and adventure are also covered.

6.     Insurance from SafetyWing

SafetyWing is another insurance company for digital nomads and long-term travellers that operates on a monthly subscription basis. Annual plans are also available if you want better overall travel insurance rates. If you’re between the ages of 10 and 39, monthly premiums cost $40 a month, making this one of the best travel insurance solutions for nomads or long-term travellers.

If you are a Canadian living abroad and are not insured by your local employment, you will need nomad-friendly travel insurance. Always double-check your coverage and be aware that insurance packages are available.

7.     Manulife CoverMe: The best option for Canadians with pre-existing medical conditions.

Manulife CoverMe travel insurance packages include some of the top Canadian travel insurance options. Family coverage for up to three generations (under 60) is available, and student insurance (up to 44 years old). In addition, their new travel insurance packages for Canadians acknowledge both covid and non-covid related occurrences, so visit their website to receive a quotation today.

Manulife offers comprehensive travel insurance packages for families, visitors to Canada, and students, and access to a travelaid smartphone app, which provides directions to the nearest medical facility and emergency phone numbers in the area. TravelEase, a specific policy meant to cover fully reported medical issues, is perhaps the most notable aspect. It covers various charges for health services and transportation for travellers with pre-existing diseases and up to $10 million in emergency medical coverage – a travel insurance unicorn.

Air Canada has also teamed with Manulife to offer complimentary travel insurance with eligible round-trip Air Canada flights until April 12, 2021.

8.     Medipac Travel Insurance: Best for Medical Emergencies

Medipac is one of the few travel insurance providers whose Medipac Assistance hotline is staffed by a team of experienced medical specialists. Medipac’s medical specialists are your first point of contact in an emergency medical issue. When dealing with foreign medical systems and avoiding extra costs due to a large deductible, this service is very advantageous.

Medipac’s travel insurance policies provide several appealing characteristics, including no age restrictions, a claim-free discount, and a 90-day stability period for most pre-existing conditions. If a standard Medipac insurance plan doesn’t cover a pre-existing medical condition, however, it offers customized, underwritten insurance coverage to match your travelling needs.

Travellers who have gotten at least one dose of a COVID-19 vaccination and the new MedipacMAX option will earn a 5% Vaccine Discount from Medipac. In addition to its other benefits, this COVID insurance option gives maximum coverage of up to $5 million for COVID-19.

The Ultimate Checklist for Travel Insurance

Here’s an excellent checklist to keep in mind when buying travel insurance. If you have any uncertainties, read the fine print and understand the policy before asking (a lot of) questions. It’s wiser to assume nothing when it comes to travel insurance and ask the tough questions. Your primary objective should be to create a travel insurance checklist.

Checklist for Travel Insurance

  1. Is there a deductible on the insurance plan? What is the cost?
  2. Is there coverage for the duration of my visit and when I return?
  3. What are the policy’s exclusions? Are there any coverage exclusions or limits for the country or region I’m travelling to? Are there any sports or adventurous activities that are prohibited?
  4. Is the coverage renewable when I’m away from home? Is it possible to extend my insurance if I decide to remain longer than expected?
  5. Is there coverage for pandemics and epidemics in the plan? Would I be covered for these health risks due to the coronavirus outbreak?
  6. Is there a travel warning for the place I want to go? If so, am I protected? Insurance companies often refuse to cover destinations that the Canadian government recommends against.
  7. Is my plan covered for emergency medical evacuation and repatriation costs?
  8. Would the plan refuse benefits in the event of a medical emergency caused by a pre-existing health condition?
  9. Is the plan to cover my hospital expenses if I become sick or injured while I’m on vacation?
  10. Does the plan cover invoices and out-of-pocket charges in advance, so I don’t have to?
  11. Is there 24-hour/7-day emergency assistance available from the company? In a medical emergency, how can I contact the company? Who should I contact? Are there any translation services available for providers in the country you’ll be visiting?

How to Select the Most Appropriate Travel Insurance Policy

Here are some essential factors to consider when selecting a travel insurance plan that meets your needs.

  1. Where are you going? If you’re travelling outside of the United States, you’ll need travel medical insurance because your U.S. health plan may provide limited coverage. On the other hand, if you’re going on a domestic vacation, you probably won’t need it or might want to buy a little coverage as a backup.
  2. Emergency medical evacuation coverage is essential if you’re travelling internationally, especially if you’re visiting a rural location with limited medical services.
  3. How are you going there? Weather, airline mechanical troubles, and various other unforeseen factors can all wreck travel plans. If you’re concerned about incurring additional charges due to a delay, search for a plan that includes a large amount of travel delay insurance.
  4. What are you doing? Trip cancellation coverage is especially vital if you have a lot of prepaid, non-refundable deposits for activities, accommodation, and tours. This is also true for travel cancellation insurance.
  5. Extreme sports and adventure excursions are frequently excluded from travel insurance plans, so travellers should consider purchasing one covering these activities.
  6. Covid and variations are causing concern. If Covid is a problem for you when travelling, seek a travel insurance package that covers cancellations and medical expenditures due to Covid. “Cancel for any reason” coverage is included in the finest Covid travel insurance policies.

How much flexibility do you require? Choose the “cancel for any reason” upgrade if you want the flexibility to cancel your trip at any time. You must usually purchase it within a few weeks of making your first deposit. You can also purchase an “interruption for any cause” upgrade, which allows you to cut your trip short and return home for any reason.

These upgrades are especially beneficial to travellers who have made significant non-refundable prepaid deposits.

How to File a Claim for Travel Insurance

  • Ask your insurer what they require for a claim before going on your trip. Before you go, here are some best practices to be aware of:
  • Carry your insurance policy information with you. Tell your travel partner and a family member or friend how to contact your service provider.
  • If you require medical assistance, contact your insurance right away.
  • Scan and keep receipts and documents for any unforeseen expenses you incur during your vacation.
  • If your luggage is lost by an airline, notify the airline and your insurance company immediately. Also, read the airline’s luggage policies.
  • If you suspect theft, contact the local police department within 24 hours. If you’ve been the victim of a crime, this is helpful advice. It also doesn’t hurt to contact your local Canadian Embassy or Consulate if you ever feel endangered.

Conclusion

Although travel insurance is not required for most holidays, it is financially prudent to do so. Because the financial cost of things going wrong when travelling is often higher than at home, travel insurance provides added security and peace of mind. Many health insurance providers, whether public or private, will not cover you if you travel outside of Canada for medical treatment. Because of the excessive cost of medical care, an uninsured foreign emergency might cost you thousands of dollars. As a result, you should think about purchasing one of the aforementioned insurance policies.

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