Knowing what your travel insurance covers and what it doesn’t shapes your travel plans. This is how.
No matter what your travel plans may be, buying travel health insurance is not a great idea. This is because you could subject yourself and your family to potential risk and huge financial losses.
WHY DO YOU NEED TRAVEL INSURANCE?
Injuries and illnesses no matter how minor can become a major expense especially when you are away from home. Emergency travel insurance helps to protect you from the costs that can come with unexpected accidents and visiting a doctor or hospital outside of your home country.
At Raymart Aviation, we employ our experience in air travel to meet the travel needs of various categories of clients while eliminating the inconveniences which arise due to the absence of pertinent information – commercial travel through the busiest terminals or corporate flights via executive hangers, we got you covered most efficiently. In this article, we’ll be looking at major reasons why you need `travel insurance. Stay on to the end.
MEDICAL EXPENSES ARE EXPENSIVE.
The cost of medical treatments and services abroad can be staggering. No matter how minor an injury or illness is, it could cost you thousands of dollars for treatment. A leading Canadian travel insurance provider came up with a total cost of $457,370 for medical expenses for a 44-year-old who accidentally fell from a ledge. Meanwhile, his provincial health plan only covered $29,149, which means that without emergency medical travel coverage he would have been $428,221 out-of-pocket. This seems quite staggering, right?
THE PROVINCIAL HEALTH PLAN MAY NOT COVER THE BILL
Many travelers don’t realize that their provincial health plan doesn’t cover all the costs of medical treatments received outside their home country. At best, your health plan may cover a small portion of your medical emergency costs. Moreover, medical evacuation may cost more than $8,000 depending on your medical condition and location.
When it comes to travel health insurance, basic emergency medical policies can cost as little as $13 dollars a week and provide coverage for emergency medical treatment and services. They include:
-> Prescription drugs
-> Emergency flights home/medical evacuation
-> Hospitalization
-> Ambulance services
-> X-rays
-> Transportation of a relative to your bedside
-> Dental accidents
-> Vehicle return
-> Out-of-pocket expenses
-> Childcare attendant
-> Meals and accommodation
-> Lab tests
-> Baggage loss or damage
COMMON TRAVEL INSURANCE EXCLUSIONS
You should be aware that emergency medical travel insurance policies do have exclusions, which is why it’s important to read through the coverage details carefully before picking the best plan for your travel.
However, most emergency medical policies do not cover the cost of medical treatment for accidents, injuries, or illnesses caused by or related to the following conditions or activities:
-> Pre-existing conditions
-> Alcohol or drug use
-> Professional Sports
-> Speed contests or organized motor contests
-> Elective treatment or surgery
-> Mental, emotional or nervous disorders
-> Scuba diving, skydiving, rock climbing, etc.
-> Pregnancy/Childbirth
-> War or Terrorism.
Therefore, it is of utmost importance that you speak to a travel insurance representative to get more information on any exclusions if you have plans to participate in any sports or activities like scuba diving, rock climbing, etc. There may be additional coverage for certain activities.
TRAVEL INSURANCE SAVINGS TIPS
Travel insurance policies can vary by over 99% for similar coverage. Therefore, try not to accept the first package you’re offered because doing a little legwork could save you a lot of money.
Don’t get pressured into buying a policy from your travel agent especially when the details are sketchy or don’t fit into your plans.
It is best to consider purchasing an annual policy especially if you are a frequent traveler. Buying an annual policy instead of a single-trip policy could save you time and money.
You can also do some research by getting medical travel insurance quotes from competing for travel insurance agencies online and comparing their details and prices.
Click here to contact Raymart Aviation for your travel insurance and for more information.