Planning a fall vacation this year? Don’t skimp out on travel insurance because the reality is anything can happen, even if you’re travelling within your own country. Without travel coverage, you might need to pay out of pocket if you get injured on your trip or if your luggage is lost. And you might not be able to get any compensation if your trip is delayed, or if you need to cancel your trip unexpectedly. Some countries won’t even let you leave the hospital unless you’ve paid your bill in full, and health costs in the US are so high that one small injury could leave you bankrupt. So, it’s better to be safe than sorry!

To help you choose an insurance plan that’s right for you and will provide the most coverage possible, check out these 3 things to consider when choosing an insurance plan.

Extent of Coverage

Not all policies offer the same amount of coverage. For instance, some policies will cover medical expenses in the event of an accident but will not reimburse you if your injury happens on a tour like horse-back riding or mountain biking. Other policies may not cover certain items like an expensive camera or drone unless you declare it or add additional insurance. So, before you purchase travel insurance, it’s important to do your due diligence to find a policy that has the least amount of exclusions and that will cover you for everything you plan to bring (and do) on your trip.

The Limits

You should also review the excess fees that are outlined in the policy. For example, if the policy covers $1000 for lost luggage and you spend $1500 to replace your items, you’ll still be $500 out of pocket. If you don’t want to get stuck with a hefty bill in addition to your insurance costs, it’s worth checking that the policy can provide enough coverage for all your belongings and offer realistic upgrade options if it doesn’t.

The Terminology

The terminology also matters. If the policy includes “trip cancellation insurance”, that doesn’t necessarily mean it will also cover a travel delay or trip interruption. Trip cancellation will cover you if you need to cancel your trip before leaving due to illness, death, severe weather or a terrorist attack. On the other hand, trip interruption insurance reimburses you for unused trip expenses if you need to come home early, and travel delay insurance can help you if your flight is delayed or you happen to miss your connecting flight. If you’re unfamiliar with all the insurance terminology and what is included or excluded under each clause, it’s wise to talk to a professional before buying a policy.

Before planning a fall vacation, talk to one of our mortgage brokers at Rowat Insurance. We can help to arrange a travel insurance policy that will provide you with the right coverage at the best price. We work for you, not the insurance company – so you can rest assured that you’ll get a plan that is right for you!