Busting Travel Insurance Myths

“MOST PEOPLE, when they book a vacation, don’t intend to cancel,” says Kellee Irwin, vice president, Orion Travel Insurance, CAA Club Group, “[but] sometimes things happen.” According to a recent national survey conducted for CAA, 39 percent of travellers did not have travel insurance coverage for their last trip. Of those who were covered, the majority relied on coverage provided through employers or credit cards. “Either they don’t think anything is going to happen to them — or to their trip,” Irwin says, “or they think their existing travel and medical coverage is sufficient, and they forgo any additional expense. “[But] not all travel insurance is created equal,” she cautions, noting several misconceptions travellers make about coverage:

• You might think credit cards include insurance. But coverage usually only applies to travel paid with that card and is often exclusive to the cardholder, not to all travellers. Irwin recommends checking limits and exclusions, as all too often, medical coverage cuts off at age 65.
• You might think OHIP covers your medical expenses. People are surprised, Irwin says, to find that actual costs far outpace OHIP’s coverage for out-of-country emergencies — and even out-of-province treatment.
• You might think employee benefits include travel insurance. Work benefits don’t always include trip cancellation or interruption, Irwin notes. Usually benefits are limited to medical coverage. Before booking, confirm that you have adequate travel insurance.

One thing that sets CAA Travel Insurance apart is the option of the “Cancel For Any Other Reason” benefit. This allows you to cancel your trip up to three hours before departure and receive a refund of up to 50 percent for any prepaid, non-refundable charges. Better still, if you purchased this travel insurance plan within 72 hours of booking your trip with CAA Travel, you can receive a refund of up to 75 percent. “There are three things to keep in mind about travel insurance,” says Irwin. “Know your trip, know your health and know your coverage. We want you to travel the world. We’ll take care of the rest.” CAA

CAA Travel Insurance, an Orion Travel Insurance product, is underwritten by Echelon Insurance. Certain exclusions, limitations and restrictions apply. Subject to change without notice.