Customizing Your Protection
When buying travel insurance, the "cheapest" option isn't always the best. Here is what to look for to ensure you are actually covered.
1. Coverage Limit
Most reputable Canadian plans offer $5 million or $10 million in medical coverage.
- Advice: Never accept less than $2 million. A serious medical event in the US can easily surpass $500,000.
2. The Deductible
This is the amount you pay out-of-pocket before the insurance kicks in.
- Standard: Many plans have a $0 deductible.
- Savings: You can lower your premium (sometimes by 20-30%) by choosing a deductible like $500 or $1,000. If you are healthy and just want catastrophic coverage, this is a smart way to save.
3. Pre-Existing Medical Conditions
This is the most critical part of travel insurance.
- Stability Period: Policies require your medical conditions to be "stable" for a certain period before you travel (e.g., 90 days or 180 days). "Stable" generally means no new symptoms, no medication changes, and no pending tests.
- The Risk: If you had a change in medication 2 weeks before your trip and then have a related emergency abroad, your claim could be denied.
- Solution: Be 100% honest on medical questionnaires. Look for policies with shorter stability periods (e.g., 7 days) if you have recent changes.
4. Duration of Trips
If buying an Annual Plan, check the maximum trip length. If you buy a "15-day" plan but stay for 16 days, your entire coverage might be void, not just the last day. Always track your days carefully.