The types of travel insurance coverage will vary depending on your needs. Travel insurance for seniors differs from insurance for families which differs greatly from travel insurance for visitors to Canada. In the same way, coverage for a trip to the United States will not necessarily be the same as an insurance plan for a trip elsewhere in the World or even out-of-province within Canada. Costs will vary depending on your needs and risk profile. For example, travelers who are over the age of 65 generally pay more for their plans because their medical risks are considered greater.
Coverage types include:
- Full coverage with stability period options
- Emergency Medical coverage
- Single-trip or multi-trip policies
- All-inclusive policies
An all-inclusive policy will most likely cover emergency medical coverage as well as the three additional key components of travel insurance and also protection for trip interruption, trip cancellation, and baggage damage, loss, or theft. On top of standard coverage, you might want a policy that provides a “cancel for any reason” option. This will allow you to cover up to a certain percentage of a cancelled trip in case something unforeseen leads to a change in your plans. Plans, coverage, limits and stability period options will vary with each insurance company as well as based on the travelers age and destination among other factors.
For those who are planning to travel for a longer time, i.e. more than 30 days, such as snowbirds, or for a year-abroad as a student, then long term travel insurance options are available through most providers.