A woman uses a laptop to compare travel insurance coverage

What Type of Travel Insurance Coverage Do You Need?

Last updated: 5th July 2023

Are you a Canadian planning to travel outside of your home province or territory? If so, it's time to start considering the type of travel insurance coverage that you'll need to protect yourself and your loved ones in case of medical emergencies.

Travel insurance can be a confusing and daunting topic for many people, but with the right information and advice, it doesn't have to be! In this guide, we will cover the basics of travel insurance; what options are out there, what is included in each plan and how they differ from one another. By understanding these key factors about travel insurance, you’ll be able to make an informed decision when selecting the best type of policy for your trip.

Understand the different types of travel insurance and what is covered

Travel insurance is the guardian angel of your trip that can swoop in and save the day when things go wrong. When it comes to travel insurance you should consider the type of coverage you need, and the duration of your plan.

Types of travel insurance coverage

  1. Emergency Medical Only travel insurance is designed specifically to cover the cost of unforeseen medical expenses while you are travelling. This type of insurance is typically more affordable than comprehensive travel insurance policies, as it solely focuses on emergency medical care. It can cover expenses such as hospitalisation, consultations with doctors, diagnostic tests, medications, and medical repatriation. However, it's important to note that this policy does not include coverage for trip cancellations, delays, or lost luggage. This option is ideal for those looking for a cost-effective solution to protect themselves from potential medical emergencies while abroad, without the additional features and costs of a comprehensive plan.
  2. All-Inclusive travel insurance plans offer the most extensive coverage, combining the benefits of emergency medical expenses travel insurance with additional protection for trip cancellations, delays, lost luggage, and more. These policies are designed to provide peace of mind for travellers who want to be prepared for any eventuality, from sudden illness or injury to unexpected disruptions in their travel plans. In addition to medical and trip cancellation coverage, comprehensive plans typically include benefits such as travel delay reimbursement, baggage loss or damage protection, and personal liability coverage. While this type of travel insurance is generally more expensive than basic or medical-only policies, it offers a higher level of protection and can be worth the investment for those embarking on expensive trips or who have multiple potential risks to consider.
  3. Trip Cancellation & Interruption insurance is a type of coverage designed to reimburse travellers for pre-paid, non-refundable expenses in the event that they need to cancel their trip before departure. This type of insurance can be invaluable for travellers who face unexpected circumstances, such as illness, injury, or a death in the family, that prevent them from embarking on their journey. Trip cancellation insurance can cover a wide range of expenses, including flights, accommodation, tours, and other pre-booked activities. Some policies also provide coverage for cancellations due to work-related reasons, natural disasters, or terrorist incidents. It's important to carefully review the policy's terms and conditions to understand the specific reasons for cancellation that are covered, as well as any exclusions that may apply. This type of coverage is often included in comprehensive travel insurance plans but can also be purchased as a standalone policy for those who already have adequate medical coverage.

Types of travel insurance plans

Single Trip and Annual Travel Insurance are two options to consider when selecting a policy. Single Trip Insurance, as the name implies, covers you for one specific journey, from the moment you depart until you return home. This type of insurance is ideal for those who travel infrequently or have a single, planned trip in mind.

On the other hand, Annual Travel Insurance, also known as Multi-Trip Insurance, provides coverage for all your trips within a 12-month period. This option is more cost-effective for frequent travellers or those planning multiple trips within a year, as it eliminates the need to purchase a separate policy for each journey. When deciding between these two types of insurance, consider your travel plans and frequency to ensure you choose the most appropriate and cost-effective coverage for your needs.

A happy couple take a selfie whilst on their trip

Consider your budget

It's important to consider all the factors that could impact your journey, such as your budget and necessary coverage. Where you're going, how long you'll be there, and your planned activities should all be taken into account when deciding what type of coverage you need. Are you going to be hiking or participating in extreme sports? That's a different type of coverage than if you're planning to relax on a beach or explore a city. By carefully considering these factors and purchasing the appropriate coverage, you'll have peace of mind and be able to fully enjoy your trip. So take the time to assess your budget and plan accordingly – your future self will thank you!

A group of senior friends go for a hike together

Pre-Existing Medical Condition Coverage

If you have a pre-existing medical condition, it's crucial to find a travel insurance policy that provides coverage for unforeseen complications related to your condition. Many standard policies exclude pre-existing conditions, which could leave you vulnerable to costly medical bills if you experience a flare-up or require treatment while travelling. To ensure you're adequately covered, look for a policy that specifically caters to travellers with pre-existing medical conditions or offers the option to add this coverage to your plan.

When do you need to purchase travel insurance?

There are so many elements to consider when planning a trip. Although it may be tempting to put it off until closer to the travel date, experts recommend securing coverage as soon as you book your trip.

Why? Because unexpected events can happen at any time, and having travel insurance can offer peace of mind and financial protection. Whether it's trip cancellation, lost luggage, medical emergencies, or other unforeseen circumstances, travel insurance can help protect your investment and ensure you have an stress-free vacation. So, don't wait until the last minute - make purchasing travel insurance part of your initial travel planning process and enjoy your trip with confidence.

A couple of vacation look at the map in the back of a jeep

How to find the best policy for your needs

When it comes to finding the perfect insurance policy, it can be overwhelming to sift through all the different options out there. That's why doing your research is key. You want to make sure you're choosing a company that not only offers the coverage you need, but also has a good reputation and customer service track record.

By comparing policies and pricing from different companies, you can find the right fit for your unique needs and budget. Plus, taking the time to research now can save you headaches and potentially even money down the road. So don't rush into a decision, take your time and do your due diligence to find the best policy.

Compare prices on the different policies available

In today's world, having the right travel insurance coverage is a must. But with so many different types of policies and insurance providers, it's important to compare the prices and find the best one that suits your requirements. Comparing insurance policies not only helps you save money but also ensures that you have the right coverage.

It allows you to compare the benefits, deductibles, and premiums of different policies and choose the policy that provides the best value for your money. So, before you go ahead and purchase an insurance policy, do your research, compare prices, and choose the one that meets all your needs.

We can help you quickly and easily compare plans from a range of different travel insurers to save you both time and money to make sure you have the right coverage for your next trip.


With so many different factors to consider when it comes to travel insurance, it can be hard to know where to start. While it can seem like a tedious task to sift through the multitude of policies available in order to find the right one for you, doing your research ahead of time will ensure that you don’t get caught out with unexpected costs while enjoying your holiday.

Always remember to compare prices and read through the various coverages included in each policy before making a final decision. With the proper planning and forethought, you can rest assured knowing that you have the right coverage for your trip and won’t have any unpleasant surprises when you get home.

So what are you waiting for? Time to book that dream trip and set up your very own travel insurance plan!
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Tommy Lloyd
Author: Tommy Lloyd, Managing Director

Tommy has over 15 years experience within the insurance industry, having worked with some of the worlds largest insurers. Tommy’s primary focus has been developing the best possible online experience for travellers looking to compare travel insurance rates. Music and travel are two of Tommy's greatest interests, and even better when he can combine the two together!


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