You have planned your trip abroad down to every last detail. You know where you are going to stay and what you are going to do. Whether it is a quick business trip, a vacation to an exotic destination or a trip that will take you away for several months, purchasing travel insurance Canada before you leave may prevent your wallet from being injured in the event of a medical emergency.
Provincial and Territorial Insurance is Not Adequate
Canada’s Government Health Insurance Plan (GHIP) and OHIP if you are in Ontario will not provide adequate coverage for you while you are traveling abroad. While provincial and territorial governments provide healthcare insurance coverage for their residents, benefits are limited and may cover less than ten percent of the costs incurred while traveling outside the country. For example, if you are traveling abroad and you need to use an ambulance or if you use medical services that you could have gotten while in Canada, the cost will not be covered at all.
You Could Have High Medical Bills from Injuries Abroad
If you get injured abroad, you will be responsible for your medical bills. A trip to an emergency room could cost a few hundred dollars, and a hospital stay may cost thousands of dollars, and even more, if you require surgery or if you have an emergency such as a heart attack or stroke, which could land you in the hospital for several days. While medical emergencies are not something anyone likes to think about when planning a trip, it is important to keep in mind that something like a serious injury, sudden illness, accident, or even a case of appendicitis could bring financial devastation to you and your family if you do not have the proper insurance coverage.
Medical Travel Insurance is Required in Some Cases
For those who are traveling on an IEC Working Holiday Visa, purchasing medical travel insurance is required. If you will be out of the country for a long period of time while working, you are required to purchase medical travel insurance that is effective through the entire period of time your work permit is valid. This IEC insurance must also cover repatriation costs, which are costs related to bringing you home in the case of an emergency and bringing your body home if you pass away while abroad.
It’s Not as Expensive as You Might Think
Travel insurance may cost anywhere between four and ten percent of the cost of your trip. For those who require longer-term insurance, the annual cost varies greatly depending on factors such as your age and the length of your stay. Even though you may not like the idea of coughing up extra money for insurance, it is important to remember that not doing so could cost you much more if you become ill or are injured while traveling abroad.
Getting injured while traveling abroad can be a devastating experience for anyone. Being injured or needing emergency medical care is stressful enough without adding in the potentially exorbitant cost of the care you will need. Purchasing medical travel insurance may give you peace of mind and protect your financial well-being while you are traveling.
Bob Hornal is the founder and President of Best Quote Travel Insurance in Vancouver, British Colombia, Canada. With over 15 years of experience as a financial advisor, Bob has traveled to more than 30 incredible countries and has dealt with a multitude of difficult situations including flight delays, medical emergencies, and weather damage, making Bob an expert at traveling.
His dream is to inspire and inform those who wish to travel by including his personal experiences and professional knowledge in each piece he writes.
To read more on topics like this, check out the travel category.