5 Common Misconceptions About Travel Insurance

By CAA Saskatchewan

When it comes to travel insurance, we know that it might not be the most buzzing topic that you’d want to talk about. However, we can assure you that it is very important.  

After all, you wouldn't want to be stuck in a foreign country without any backup plan if the unexpected happens, would you? Trust us, travel insurance is worth the investment. 

Whether it's a medical emergency, lost luggage, or trip cancellation, travel insurance can help cover your back and give you some peace of mind while you're out exploring the world.  

But there are a lot of misconceptions about travel insurance. There's a lot of misinformation out there that can make it hard to know what you're getting into when you buy a policy. 

So, to help you cut through the noise, we're going to tackle the five most common misconceptions about travel insurance and give you the lowdown on why it is a must-have for any adventure. 


Misconception #1: "I don't need travel insurance" 

Now, we understand that you're a savvy traveller and you've got everything under control. But the truth is, you never know what could happen when you're out and about exploring the world. 

For example, you could get food poisoning from that dodgy street vendor, or you could have an accident and break a limb, or maybe your flight gets cancelled due to some unexpected weather. 

These situations can happen to anyone, and they can leave you high and dry if you're not prepared. 

Travel insurance can be a real lifesaver during situations like medical emergencies, lost or stolen luggage, trip cancellations, and flight delays, which are just a few examples. 

But it's not just about the unexpected mishaps. Travel insurance can also provide benefits like emergency medical evacuation, 24/7 travel assistance, and coverage for pre-existing medical conditions.  

Trust us, you don't want to be stuck without these benefits if something does go wrong. 

It's better to be safe than sorry and having travel insurance can give you the confidence to explore the world knowing that you're covered. 


Misconception #2: "My existing medical insurance will cover me while traveling" 

Now, you might be thinking, "I already have medical insurance, do I really need travel medical insurance too?" The answer is -- it depends.  

Provincial health plans have limited coverage or none at all when it comes to medical emergencies that occur outside of your home province.  

And let's face it, medical emergencies can be expensive, so you don't want to be caught out with a hefty bill because your insurance doesn't cover you while you're traveling. 

This is where travel medical insurance comes in.  

Travel medical insurance can provide coverage for medical emergencies, including hospitalization, emergency medical evacuation, and repatriation of remains. 

Depending on your provider and policy, it can also provide coverage for emergency dental treatment, emergency prescription medication, and even accidental death and dismemberment.  

In many cases, travel medical insurance can work in conjunction with your existing insurance to provide comprehensive coverage while travelling. You can check with your insurance consultant about that. 

This means you can have peace of mind knowing that you're covered, no matter what happens. 


Misconception #3: "Travel insurance is too expensive" 

We get it, travel expenses can add up quickly, and it can be tempting to skip out on travel insurance to save a few bucks. But trust us, it's always worth the investment. 

Let's consider a potential situation to demonstrate what we mean. 

Imagine you're on a trip, travelling without travel insurance, and you lose your luggage. Or worse, your passport. Or maybe you fall ill and need emergency medical care.  

Without travel insurance, you'll be left to cover these expenses out of your own pocket, which can quickly add up and ruin your entire trip. 

Which is why, the cost of travel insurance is a small price to pay for peace of mind while traveling.  

There are also ways to save money on travel insurance without sacrificing coverage. You can compare quotes from different insurance providers and choose the plan that fits your needs and budget. 

Recommended Reading: 6 Tips to Choose the Right Travel Insurance for Your Next Adventure 

A basic plan that covers trip cancellation, trip interruption, and baggage loss might cost a small percentage of your total trip cost. However, more comprehensive plans that include medical coverage, emergency evacuation, and other benefits can cost up to 10% or more of your total trip cost. 

For CAA members, there is some good news. One of the exclusive benefits of your membership is that you can enjoy a 10% discount when purchasing a CAA Travel Insurance policy. So, yay! 


Misconception #4: "All travel insurance policies are the same" 

This is a very common misconception that we hear all the time. 

Well, we're here to tell you that this couldn't be further from the truth. In fact, there are significant differences between policies, and it's important to choose the right one for your needs. 

Some of the most common types of travel insurance coverage that you can choose include: 

 - Trip Cancellation/Interruption: This coverage can reimburse you if you need to cancel or cut short your trip due to unexpected events such as illness, injury, or weather-related issues. 

- Emergency Medical: This coverage can help cover medical expenses if you become ill or injured while traveling.  

- Baggage Loss/Delay: This coverage can reimburse you for lost or delayed baggage. 

These are just a few examples of the types of coverage that travel insurance policies can offer. It's important to note that not all policies include the same coverage. 

Therefore, it's essential to read the fine print and understand what you're buying. Take the time to choose the right policy for your needs as that can make all the difference during an emergency. 


Misconception #5: "I can buy travel insurance anytime" 

While technically you can buy travel insurance at any point leading up to your trip, waiting until the last minute can come with some serious drawbacks. 

First and foremost, many travel insurance policies have time-sensitive benefits that you can only take advantage of if you purchase your policy early enough.  

For example, if you have a pre-existing medical condition, you may need to purchase your travel insurance within a certain timeframe in order to qualify for a pre-existing condition waiver.  

Similarly, if you want to be able to cancel your trip for any reason, you usually need to purchase your policy within a certain timeframe after making your initial trip deposit. 

Beyond that, waiting until the last minute to buy travel insurance can leave you vulnerable to unexpected events that may occur before your trip.  

If you wait too long and something unexpected happens that could cause you to cancel or postpone your trip, you won't be able to purchase travel insurance to cover those expenses. 

So, the ideal time to buy travel insurance depends on your specific trip plans and potential risks.  

As a general rule of thumb, it's a good idea to purchase your travel insurance as soon as possible after making your initial trip deposit. That way, you can take advantage of any time-sensitive benefits and ensure that you're covered for any unexpected events that may arise leading up to your trip. 


Here’s how CAA can help you 

Well, there you have it. The five most common misconceptions about travel insurance. Don't let these myths leave you stranded without coverage when you need it most.  

Remember, unexpected events can happen to anyone, anywhere, and at any time. That's why it's essential to have the right travel insurance coverage. 

One option that you can explore is to seek coverage from Canada’s most-trusted insurance brand

From emergency medical insurance to trip cancellation and interruption coverage, CAA Travel Insurance plans can protect you against the financial impacts of illness, emergencies, and the unexpected. 

Plus, if you’re a CAA member, then enjoy that sweet 10% discount and save some money. Safe travels!

CAA Travel Insurance-1260X440


Tags: CAA Insurance, Travel