Travel Insurance Costs Vs. Risks of Travelling Uninsured
When planning a trip, it’s easy to get lost in the excitement of choosing destinations, booking accommodations, and packing your bags. But have you paused to consider what could happen if something goes wrong? Unexpected events like trip cancellations, medical emergencies, or lost baggage could turn your dream vacation into a stressful financial burden.
Travel insurance might seem like an additional expense upfront, but it provides essential protection that can save you substantial costs in the long run. According to this article, Canadians are making budget cuts to avoid travel insurance, but it could be costing them in the long run. Here’s a breakdown of travel insurance costs and why travelling uninsured can be a risk you can’t afford.
What Is Travel Insurance?
Travel insurance is a coverage plan designed to protect travellers from financial risks that can arise during trips. These include unexpected situations like medical emergencies, trip cancellations, baggage loss, or even emergency evacuations. Whether you’re venturing abroad or travelling within British Columbia, securing travel insurance is a wise step to safeguard your plans and finances.
Looking to protect your trip? Learn more about travel insurance options here.
The High Risks of Travelling Uninsured
Unexpected Medical Expenses
Medical emergencies are one of the most common reasons travellers need insurance. A simple accident could result in thousands of dollars in medical bills, especially for international travel. Without insurance, you may face significant debt handling these expenses alone.
Trip Cancellations or Interruptions
Life happens, and sometimes trips are cancelled or cut short due to unforeseen circumstances like illness or family emergencies. Without trip cancellation insurance, you could lose the money spent on non-refundable tickets, accommodations, and planned activities.
Lost or Stolen Baggage
If your luggage is delayed, lost, or stolen, travel insurance can cover the cost of essentials like toiletries, clothing, or even expensive personal items. Replacing these out-of-pocket expenses adds up quickly, especially for major losses such as electronics or equipment.
Emergency Evacuation or Repatriation
Natural disasters, civil unrest, or severe medical needs might require emergency evacuation or repatriation. These services can cost tens of thousands of dollars, but travel insurance can provide coverage so you’re not left scrambling for funds in a crisis.
Unforeseen Travel Disruptions
Flight cancellations, delays, or disruptions can create logistical nightmares. Rebooking last-minute flights or securing accommodations isn’t cheap. Travel insurance can ease this financial strain by reimbursing these unexpected costs.
How Much Does Travel Insurance Cost?
Now, you’re probably wondering, “How much does travel insurance cost?” The answer depends on your trip’s destination, duration, and level of coverage. On average, travel insurance costs around 5-6% of your total trip expense. Plans covering single trips typically fall between CAD $60-$300. For frequent travellers, multi-trip insurance may offer better value.
Use our travel insurance calculator to get a personalized quote for your next adventure. Request a Quote
Travel Insurance vs. Risks of Going Uninsured
The risks of travelling uninsured far outweigh the modest price of insurance. Consider this scenario:
- Travelling Uninsured: You slip and break a leg while visiting another country. The hospital bills total $20,000, and you’re responsible for every dollar.
- With Travel Insurance: You pay a $100 premium for a comprehensive plan that covers medical emergencies. Your bills are covered, leaving you financially secure.
By budgeting for travel insurance, you protect yourself against significant financial loss while enjoying peace of mind on your trip.
Choosing the Right Travel Insurance for Your Needs
Travel insurance has become essential, with almost 90% planning to invest in it. To get the best value, compare policies carefully. Look for plans covering your priorities, such as international travel insurance, emergency medical care, or trip protection. Consider factors like coverage limits, plan flexibility, and the reputation of the insurer.
Need help? Our licensed advisors can guide you through a travel insurance comparison to find the best fit.
Why Travellers in British Columbia Trust Us
With over 46 locations across British Columbia, Johnston Meier Insurance is here to protect your travels. From affordable travel insurance costs to comprehensive international travel insurance, we offer plans tailored to your unique needs.
Don’t leave your next trip to chance. Contact us to learn more and ensure your travel plans are as seamless as your destination.
Travel Confidently
Whether you’re exploring the Canadian Rockies or venturing overseas, traveling insured provides the safety net you need to focus on enjoying your adventure and not worrying about the “what ifs.”
Get started today by booking a quote with Johnston Meier Insurance. Our expert team has you covered so you can travel confidently and enjoy every moment of your trip.