5 Best Travel Insurance for Canadians in 2023: Why Do You Need It? | Travelvibe (2024)

If you are planning to go abroad this winter or the next summer, you must start planning now. And while making your tour plans, you should also consider having travel insurance for Canadians. It provides extra protection for your trip.

There are a number of good travel insurance for Canadians to travel both domestically and overseas. SoNomad, Allainz, Tugo, Destination, and Manulife are some of the best ones offering coverage for trip cancellation, lost and delayed baggage, accidents, and emergency medical coverage.

This article will help you understand the importance of having travel insurance as well as guide you to choose the best insurance offer for your next trip. Let’s go!

What Does Travel Insurance Cover?

If you are wondering whether you should purchase travel insurance or not, then you need to learn about the benefits in detail. Travel insurance covers you for a variety of issues. Some of the major insurance plans include:

1. Trip cancellation

Well, you surely do not have trip cancellation in mind when you book tickets. However, things happen. There can be some emergencies or situations that might not let you carry on your trip.

Maybe your travel partners or any of your immediate family members are ill, and your presence is required. Or, perhaps you have a sudden business necessity, or there are some political or environmental changes. If you have insurance, they will pay you for the bookings you made. It saves you from a good amount of financial loss.

2. Trip interruption

Trip interruption is another common coverage of travel insurance. In case you need to return early for some emergencies, then your insurance provider will also let you have some coverage. The difference between trip cancellation and interruption is that the former is claimed when you do not make the trip, and interruption insurance activates after you begin the trip.

3. Medical emergency

You should always have travel medical insurance, especially when you are going out of the province. When you travel outside, you surely do not carry a lot of money and often do not have many family members to look after you.

Sometimes, treatment in foreign locations is also costly. Insurance can benefit you greatly in such conditions. However, there are some restrictions on medical plans when you are traveling inside the country. You should check the insurance plan thoroughly before you purchase travel insurance.

4. Flight or travel accidents

Though we do not want anyone to face such incidents, unfortunately, many people face accidents while traveling. Almost all travel insurance policies include medical costs when a traveler faces an accident. It lets you enjoy traveling with more confidence.

5. Baggage insurance

Well, it is a constant fear that keeps playing behind your mind. What if your luggage gets lost? How will you manage your travel? Even if it is not lost, the delay of your baggage can seriously harm your travel plans. Insurance providers assist their users in such incidents and back them financially.

Top Travel Insurance Companies in Canada

1. SoNomad

Despite being a young company, SoNomad has become quite popular among Canadian travelers. It is because of the badger-friendly and cost-effective service of the company. In fact, they have some of the most competitive offers in the market.

Their travel insurance policies cover you for trip cancellation and interruption, medical emergency allowance, lost or delayed baggage, and more. They have already earned a good reputation among their users. If you are looking for cheaper insurance with higher coverage and more facilities, then SoNomad can be a perfect choice for you.

2. Allianz

If you want to invest your money in a company that has been providing services for a longer period of time, then what can be a better option than Allianz? The company was founded in 1890. For over a century, they have been providing travel insurance services.

Allianz is now a global brand. From trip interruption and cancellation to medical allowance, they will cover you for everything. They will pay a maximum of $ 2,000 coverage for trip interruption, which you can expect to cover your financial loss largely, if not completely.

3. TuGo

TuGo is another highly recommended travel insurance for Canadians. Their services are user-friendly, and so is their process. They have 24/7 customer support so that you never miss any emergency contact with them.

Along with their generous emergency medical benefit, you can have customizable coverage options. That is not all, though. You can also upgrade to CFAR, which means cancel for any reason. It means you will no longer be restricted to pre-mentioned causes for canceling a trip.

You can literally cancel a trip for any reason and demand a claim, though it generally ranges between 50 and 75%.

TuGO is also one of the few insurance providers to offer adventure in their coverage policies. However, there are some disadvantages, too. Such as:

• The maximum age for all-inclusive packages is only 59 years old. It means there will be some exclusion for users over 59 years old.
• A medical questionnaire is required for people over 60 years old.

4. Destination

Destination Travel Insurance is an ideal option for both Canadians who want to visit abroad and people who want to visit Canada. The company has been providing full insurance services since the early 1990s. They have some unique benefits for their users, including the following:

• 15% surcharge for Canadians who are already overseas
• Stability periods can range from 90 to 365 days.
• There is no MQ policy for young travelers.
• A caring customer service that is always active to support you

Nonetheless, there is one setback that many users have shared over the internet. They have claimed that the insurance terms and conditions of the company are not clear. You can clear all your confusion while purchasing the insurance by consulting with their customer support.

5. Manulife

Manulife is a very well-known name for Canadian travelers. It is one of the oldest travel insurance companies established in Canada. The company was founded by none other than Sir John A. MacDonald, the first-ever president of the country. If that is not enough to trust the company, there are some practical stats to impress you.

Manulife offers up to $10 million in emergency medical care coverage, higher than any other insurance in Canada. They also have $ 3,500 trip cancellation or interruption coverage. In case you face any accident during the flight or while traveling, you will get $100,000 for property damage coverage.

When it comes to coverage amount, Manulife is at the top of the list. You can trust them with their commitment and service. Their policies are crystal clear, and you will have a brief about all the information and policies you need to understand.

How Much Does Travel Insurance Cost?

Travel insurance for Canadians is not very costly. You can have a lot of advantages with a little investment in insurance. The cost, however, is influenced by a variety of factors. It includes the following:

• Your age: Your age is an important factor in influencing the cost of your insurance purchase. If you are a young traveler, then you are most likely to get some extra discounts. Also, the costs will be less than for people of middle age and senior citizens.
• Destination: Your destination is another factor that has an impact on the cost of your influence. Some places are more tourist-friendly and have wonderful weather, along with a good connection to your insurance agency. Such destinations will cost less than places that are adventurous and do not offer a healthy environment.
• Trip Length: If you are going on a short tour, then you will have to pay less than going for a long time.
• Types of Coverage: There are several types of coverages that have already been discussed. If you want to add other benefits along with the basic plans, the cost will rise.

FAQs

Can Canadians buy travel insurance in the US?

Yes, you can; there is travel insurance for Canadians available in the United States. You can purchase long-term health and medical insurance along with travel insurance if you have both Canadian and US citizenship.

Do Canadian citizens need travel insurance for Canada?

If you are overseas and coming back home, you will still need insurance to see a doctor. The insurance provider will back you with the medical cost.

Do I need travel insurance for the USA from Canada?

Though it is not a mandatory requirement, if you are flying to the USA from Canada, you should get insurance. Even if you are going for a day. It will protect your trip from sudden emergencies.

Is travel insurance mandatory for Canada?

In most cases, it is not mandatory to have travel insurance in Canada. Sometimes, you will have to show proof of medical insurance coverage for visa purposes.

Can I purchase your travel insurance plans after booking my trip to Canada?

Yes, surely you can purchase your travel insurance after booking the trip. However, it is always better to get your insurance as soon as possible. You might get some extra discounts for it.

Conclusion: Best Travel Insurance for Canadians

Having travel insurance for Canadians is not always mandatory. But you should have one whenever you are traveling outside of your country or province. It covers you with financial security. Hopefully, the above comparison among the top Canadian insurance will be helpful in purchasing the best-suited policy for you. All the best for your next trip!