Is Travel Insurance Worth the Cost?


Although travel insurance has been around for decades, most travellers are still oblivious to its importance.

Apart from the obvious advantages of covering lost baggage and flight cancellation, travellers tend to forget emergency medical costs abroad can run into the tens of thousands, and not everything is covered by your credit card provider.

With so many insurance options, things can get pretty confusing; but a travel agent will be able to advise the best options that maximize protection without breaking the bank.

“Change of mind insurance”
Most clients who purchase international airfare are not even aware of the existence of a product called “change of mind” insurance.

What is it?
It’s just that. By purchasing the policy, you are insuring your investment in the event you change your mind and decide not to go.

How much coverage does it offer?
The change of mind benefit covers a maximum of $400. It should be noted that most international airfare tickets carry a penalty of between $200-$400. So the airline/issuing agent would refund the ticket (less the penalty), and the insurance company would refund the rest. There are some tickets which are deemed as totally non-refundable, in which case this “change of mind” policy would not be applicable.

What does it cost?
For most travellers under the age of 59 travelling for a period of fewer than 2 weeks, the price would be approximately $67 plus HST. It increases incrementally based on the traveller’s age and the duration of the trip.

Is there anything else covered?
Yes, besides a change of mind, you would be eligible (with no extra cost), for trip cancellation and trip interruption insurance. Additional medical coverage is also available.

Do I recommend it?
When the opportunity is available, YES!!!

NOTE: Change of mind insurance MUST be purchased on the date of ticket issuance. For further information, please call our agents on: 1-866-458-4252

Is Travel Insurance Worth the Cost?

No comments

Leave a Reply

Your email address will not be published.