Travel Insurance

Travel insurance provides financial protection for unexpected events that occur while you are traveling outside your home province, territory, or country. It helps cover emergency medical expenses, trip cancellations, interruptions, delays, lost luggage, and other unforeseen travel-related incidents. The most important component of travel insurance is emergency medical coverage, which pays for hospital and physician costs, medical evacuations, and repatriation in case of serious illness or injury abroad

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Travel insurance can be purchased as a single-trip policy, covering one specific trip, or as a multi-trip annual plan, which provides coverage for multiple journeys within a year. Coverage begins on the effective date listed in the policy and continues until the end of the trip or policy period. Many credit cards include limited travel insurance benefits, but standalone plans generally offer broader coverage and higher limits.

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Example:

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If you are traveling to Europe and suffer a broken leg that requires hospital treatment, your travel insurance will cover eligible emergency medical expenses, such as hospital stays, surgery, and prescription medications, up to the policy maximum.

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What to Watch For:

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Always review your plan’s pre-existing condition stability requirements, as claims may be denied if a medical condition was unstable before departure. Confirm coverage limits, exclusions for high-risk activities, and whether your policy includes trip cancellation and interruption protection. Carry your insurer’s emergency assistance contact information when traveling, as you must notify them immediately in the event of a medical emergency.