Best Travel Insurance for Canadians
Traveling is exciting, but unexpected events can turn a dream trip into a costly nightmare. The right travel insurance ensures peace of mind, covering medical emergencies, trip cancellations, and more. This guide explores the best travel insurance options for Canadians, comparing coverage, pricing, and benefits.
What to Look for in a Travel Insurance Plan
Key factors to consider when choosing travel insurance:
- Medical Coverage: How much coverage is provided for hospital stays and emergencies? Will my pre-existing conditions be covered?
- Trip Cancellation: Does it reimburse prepaid, non-refundable expenses?
- Baggage Protection: Will you be compensated for lost luggage?
- Adventure Sports: Are high-risk activities like skiing covered?
- Overall Cost: Ultimiately, what will it cost me?
Top 10 Travel Insurance Providers for Canadians
Here is a list of the top 10 best travel insurance providers:
1. Manulife Travel Insurance
Comprehensive plans with high medical coverage and flexible options.
2. Blue Cross Travel Insurance
Great for seniors and families with customizable coverage.
3. Allianz Global Assistance
Strong emergency medical coverage and 24/7 assistance.
4. TuGo Travel Insurance
Excellent for adventure sports and frequent travelers.
5. SafetyWing
Best for digital nomads with global coverage and a subscription model.
6. CAA Travel Insurance
Great for road trips and travelers needing roadside assistance.
7. TD Travel Insurance
Affordable options for TD customers with good coverage.
8. RBC Travel Insurance
Strong emergency medical and trip protection for families.
9. Medipac Travel Insurance
Tailored for snowbirds and extended stays abroad.
10. GMS Travel Insurance
Flexible and affordable coverage with strong emergency medical benefits.
Comparing the best travel insurance providers
| Provider | Target Audience | Price Model | Medical Coverage | Trip Cancellation | Lost Baggage | Pre-Existing Conditions | Home Country Coverage | Adventure Sports | Emergency Evacuation |
|---|---|---|---|---|---|---|---|---|---|
| Manulife Travel Insurance | Families, seniors, frequent travelers | One-time payment | Up to $10M | Available | Available | Limited coverage | No | Optional add-on | Covered |
| Blue Cross Travel Insurance | Seniors, families | One-time payment | Up to $5M | Available | Available | Available | No | Optional add-on | Covered |
| Allianz Global Assistance | Frequent travelers, business travelers | One-time or annual plan | Up to $10M | Available | Available | Limited coverage | No | Optional add-on | Covered |
| TuGo Travel Insurance | Adventure travelers, frequent travelers | One-time or multi-trip | Up to $5M | Optional | Available | Limited coverage | No | Good coverage | Covered |
| SafetyWing | Digital nomads, remote workers | Subscription-based | Up to $250K USD | Minimal | Minimal | Not covered | 30 days every 90 days | Limited | Covered |
| CAA Travel Insurance | Road trippers, frequent travelers | One-time payment | Up to $5M | Available | Available | Limited | No | Optional add-on | Covered |
| TD Travel Insurance | TD customers, families | One-time payment | Up to $5M | Available | Available | Limited | No | Limited | Covered |
| RBC Travel Insurance | Families, frequent travelers | One-time payment | Up to $5M | Available | Available | Limited | No | Optional add-on | Covered |
| Medipac Travel Insurance | Snowbirds, retirees | One-time payment | Up to $2M | Available | Available | Limited | No | Limited | Covered |
| GMS Travel Insurance | Families, budget travelers, frequent travelers | One-time payment | Up to $5M | Available | Available | Available | No | Limited | Covered |
Fun Facts
- Over 75% of Canadians purchase travel insurance before international trips.
- Medical emergencies abroad can cost over $100,000 without insurance.
- Snowbirds often choose multi-trip policies to save money.
- Adventure sports like scuba diving often require additional coverage.
- Trip cancellations are among the most common claims.
Conclusion
Choosing the right travel insurance is crucial for a stress-free trip. Compare policies based on your travel style, budget, and coverage needs.