Travel insurance is something that is so often taken for granted. You don’t think about it until you need it. You’ll never need it. What could possibly go wrong? It is also one of the simplest things to get that could save you thousands or even millions of dollars.

Who needs travel insurance?

Simply put? Everyone.

If you’re travelling outside of your own country you almost definitely should have travel insurance.

What if I’m travelling in my Own Country?

Did you know your provincial plan may not transfer outside of your own province? Even if travelling within your own country, having travel insurance is a good idea. It’s better to be safe than sorry. Best to check with your own medical insurance providers and we what is covered. Not in Canada? Check into your own countries healthcare policies.

What Does Travel Insurance Cover?

Travel insurance is not just for injury and/or illness. They offer also cover trip cancellation and trip disturbance.

Meaning if for some reason your trip is cancelled, possibly due to a death or illness before even leaving, your trip is now covered. Those pesky “no transfer/cancellation” clauses on your trip purchase may be sidestepped by having travel insurance in place.

What If Your Credit Card Offers Coverage?

Great! But keep I mind they are often extremely limited. Designated travel insurance is more extensive. If you can take advantage of your credit card insurance great, but I still suggest having actual travel insurance.

Lost Luggage

Losing your luggage is one of the worst ways to begin a vacation. Lucky for you, your travel insurance will likely reimburse you for essential items when their bags are delayed, damaged or stolen. Then you can enjoy the start of your vacation, even if your luggage isn’t. – Keep an eye out for a future post with more on this –

Stolen Items

Theft is a risk anywhere you go, some places more than others. If you’re like me, or you live in the same century as I do, you probably travel with a cell phone, and a multitude of other electronics.  Many policies cover the replacement cost of stolen items.

Missed Connections

Unless you’re lucky enough to be getting a direct flight, near impossible when travelling outside your continent, missing connections is certainly a risk.  Many travel insurance policies will cover you for these missed connections. They can find you accommodations through their helpline if you are stranded or cover alternative transportation arrangements.

Losing Your Documents

This is probably one of the biggest disasters you could encounter while travelling. They can help replace your documents and help you get home should anything happen to those documents.

It’s obvious there are plenty of reasons why you should buy travel insurance before your trip. But if cost is the biggest reason for not wanting to get it, think of the cost associated if only one of these worst-case scenarios happens.

Pro Tip: Skip buying it at the travel agent, and go straight to your insurance provider, usually a fraction of the cost and better coverage.

Let travel insurance be the thing you have and never need, instead of the thing you need and don’t have.