Whether or not you’re travelling for just a few weeks or just a few months, there’s no denying the truth that travel insurance is a vital evil. We’ve all heard horror tales of individuals being caught with unhealthy travel insurance and even worse, none in any respect. For a few of these folks, being caught in an medical emergency ended up costing them their life financial savings.
Lots of people select to take their probabilities. Perhaps it’s the truth that as Canadians we take healthcare with no consideration. We don’t actually give it the reward it deserves when in comparison with some locations on the planet and nearly all of the time we don’t even give it some thought till we want it. The reality of the matter is that regardless of all of the criticism, Canadians have a number of the finest healthcare on the planet when in comparison with value and remedy equality for all.
Getting again to insurance, one facet that’s typically forgotten with regard to buying travel insurance is that most insurance policies take impact the second your ft go away Canadian soil, not whenever you buy the coverage. The settlement you signal when buying your insurance is contingent that nothing in your well being standing modifications from whenever you buy your insurance till you allow the nation.
Meaning in the event you purchased your insurance months earlier than your journey, suffered one thing main (and even minor) within the interim, then proceeded to travel with out informing your travel insurance supplier, your insurance is likely to be null and void no matter whether or not you’ve already paid for it. That’s a little bit of a punch in itself, nonetheless this submit isn’t about that.
The risks of counting on an extension for well being insurance
Now this state of affairs doesn’t apply to everybody, nonetheless it’s nonetheless good to know. Most travel insurance corporations will let you lengthen your present travel insurance plan in the event you’re travelling longer than your present insurance permits. Whether or not you’re topping up a multi-trip coverage, extending the perks of an included bank card travel insurance coverage or have determined to travel longer and wish an extension on you’re present single journey coverage they’re all fairly comparable.
While you lengthen your present protection, you’re basically buying one other coverage.
In flip, most extension insurance policies are much like how travel insurance typically works. That you’re solely coated for pre-existing situations if the insuring firm is aware of about them forward of time and it’s included in your coverage. Appears slightly convoluted that you simply’d find out about an accident forward of time however basically whenever you lengthen your present protection what you’re normally doing is buying one other coverage.
Clear as pudding, proper?
To make this clearer I’ll provide you with an instance. A retired couple in good well being go away Canada to spend the winter down south. They have already got a yearly multi-trip travel insurance plan that can cowl them for 30 days at a time outdoors of Canada. Since they wish to spend three months down south they buy a two month extension on prime of their present plan with the identical firm.
All goes nice for the primary few weeks then out of the blue, two weeks into the journey, the spouse slips and falls and breaks her wrist and arm in a number of places. The break is so unhealthy that they should put a rod and some screws into her arm in order that it heals accurately.
In comes her insurance firm. They do a fantastic job and every thing has been taken care of and all of the payments paid in a well timed method. The couple are very grateful that they thought forward and purchased a coverage.
The issue arises when the lady must get the rod eliminated. For it to heal correctly, it wants to remain in her arm for 3 weeks. Since her multi-trip coverage expires on the finish of the month, the minor surgical procedure she must take away the rod falls onto her extension coverage. The issue is that so far as her new prolonged coverage is anxious, the rod is now a pre-existing situation and the insurance firm gained’t pay to have it eliminated.
The girl now finds herself in a predicament. The insurance supplier isn’t evil, it merely sees that prolonged coverage as a brand new coverage. Somewhat than a real extension of the unique coverage, the 2 insurance policies are seen as separate entities of their eyes. That is regular since when a declare is made, all prices are dealt with through the coverage in place when the accident occurred.
The couple now needed to determine what to do. They nonetheless had over two months left on their journey and wished to stay within the south. The travel insurance firm, for his or her half, gave them the one factor they might that may fall inside the 30 days, a free flight residence.
That left them with a troublesome alternative, they might both fly residence, take away the rod after which pay for the flight again south to renew their journey or they might pay the price of getting the rod eliminated themselves and proceed their journey instantly. Both method it was going to value them cash.
Should you’re not prepared to come back residence ahead of supposed in case of a medical emergency, it isn’t a foul thought to verify your coated for the complete period of your journey with one coverage.
This couple learnt a worthwhile lesson that typically extending an present coverage, particularly when travelling for prolonged intervals, won’t all the time be one of the best determination.
After all, this all the time is determined by your precise coverage and is likely to be high quality in sure conditions. Nevertheless, in the event you’re not prepared to come back residence ahead of supposed in case of a medical emergency, it isn’t a foul thought to verify your coated for the complete period of your journey with one coverage.
After all, even that’s usually as much as the coverage makers discretion with some corporations opting to airlift a sick affected person residence for native remedy somewhat than paying exorbitant charges out of nation. That’s a subject for an additional time, although.
This submit wasn’t meant to dissuade you from ever extending your present insurance, merely to tell you of doable issues. To be sincere, we normally carry a yearly multi-trip coverage and oftentimes lengthen it for our prolonged travels. The decreased prices make it a lovely proposition and we’re high quality with returning early if we have to for well being causes. You simply have to weigh the professionals and cons for your self.
In case you have any questions, contact your insurance supplier for extra data and don’t neglect to learn the high quality print on any coverage you’re at present contemplating.
On the lookout for a brand new coverage? Begin off with a free quote from Kanetix.ca. It’s a fantastic place to start your search because it lets you evaluate travel insurance prices from a number of completely different Canadian corporations without delay. From there take a look at any of our critiques up prime to seek out the one which’s excellent for you.