It’s a good idea to buy travel insurance whenever we take an overseas holiday. Travel insurance policies cover our belongings against loss or theft, extra costs we may need to pay if our flights are cancelled, and medical treatment if we have an accident or become ill.
Medical bills can be very high in other countries, and it’s a big financial risk to go on holiday without travel insurance.
We can also buy domestic travel insurance to cover holidays here in Canada. This covers us if our flights are delayed and for certain costs that can’t be recovered from ACC or our home contents insurer. Some policies have cover for rental car excesses.
Travel insurance policies usually have exclusions for pre-existing conditions and unattended baggage. There are many conditions and exclusions in travel insurance policies, so it helps to read the policy wording and understand what exactly we’re covered for.