I'm covered when I travel… aren't I?
One-third of travellers are unaware they may not have enough insurance
(NC) As winter sets in, many Snowbirds are either eagerly awaiting their extended trips to the sunny south, or they have already embarked for places far away from the frigid Canadian winter weather. On their minds are morning walks along the beach and relaxing rounds of golf. They want to enjoy every minute, and often the last thing on their mind is whether they have enough travel insurance coverage.Many are content enough in knowing that their credit card carries travel insurance. But, coverage through credit cards or other sources, such as employer group plans, doesn't necessarily provide enough protection. And a significant number of travellers don't even realize it.
According to a recent survey of insurance consumers by RSA, approximately one in three is not even aware of the need for supplemental coverage. Existing plans through your credit card or employee benefits likely provide coverage up to a specific number of days outside your province or up to a specific age, so it is important to check these limitations before you travel.
Erin Finn, underwriting director with RSA's travel insurance division, reminds travellers never to assume that your credit card or an employer plan will protect you fully when you're outside the country. “While these policies are good to have, you need to be aware of any limitations they may contain and look at supplementing that coverage with additional travel insurance to ensure you have sufficient coverage.”
For example, in addition to emergency medical coverage, you may require trip cancellation and interruption insurance. Without it, a cancelled flight or an unexpected return home for an emergency in the middle of your trip can result in significant out-of-pocket expense. Also, existing plans through your credit card or employee benefits likely provide coverage up to a specific number of days outside your province or up to a specific age, so it is important to check these limitations before you travel. RSA recommends talking to a travel insurance expert well in advance of your trip who can advise you on what insurance you have and what supplemental coverage you can opt for to fill gaps while maintaining affordability. And, remember; don't wait until the last minute! For more information on RSA's travel insurance, visit www.rsatravelinsurance.com.
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