How Does the Destination Impact the Cost of Travel Insurance?
The cost of emergency medical travel insurance varies depending on where you travel, but it doesn’t work in the way you might expect. Rather than changing on a per country basis, the cost is divided into two major tiers. The first tier is travelling within Canada, the second is travelling internationally.
Here is how each destination relates to the cost of your travel insurance policy.
Travelling Within Canada
Most Canadians know they need travel insurance if they head south of the border for the winter. But did you know that travel insurance also protects you when you travel within Canada?
Whenever you leave your home province you lose some of the health coverage you have. For example, if you go from Toronto to Vancouver, your OHIP coverage won’t provide the same level of protection while you’re away. If you require medical attention during your trip, you could wind up footing the bill unless you have coverage. There’s also baggage protection and trip cancellation insurance, which can be purchased for trips within Canada.
All other things being equal – your type of coverage and trip duration – travel insurance for trips within Canada is less expensive than travel insurance for trips abroad.
You might think that travelling somewhere close by, like Mexico, requires less expensive coverage than travelling somewhere far, like South Africa. Or you might guess that a country with astrong medical infrastructure will lead to cheaper insurance than a country with a less established medical infrastructure. But this is rarely the case.
Typically, your destination only impacts the price of your insurance in a broad way. International travel insurance is usually more expensive than domestic, but the specific country you visit won’t make a difference. Whether you go to Peru or Australia or Ireland, you’ll end up paying the same price for travel insurance. Most brokers and insurers will simply ask whether you're travelling within Canada, or going abroad.
Travelling to a Country With a Travel Advisory
If you plan to travel to a country with a travel insurance, getting coverage may be difficult. When the threat level of a country reaches a certain point, insurers stop offering coverage to travellers. In some cases, policies may still be on offer, but the types of coverage a traveller can purchase are restricted, and the cost will be higher than normal. If you purchase travel insurance for your trip, and then a travel advisory is issued for your destination, you'll be able to cancel your coverage for a refund.