Credit card and group insurance travel coverage
Your credit card and group insurance both come with travel insurance… but what kind of coverage exactly? Here are 6 tips on how to find good travel insurance and how to decide what to buy.
It’s all about the policy
Before leaving on a trip, carefully read your travel insurance policy to see what’s covered and what isn’t.
Here are some of the things you need to be looking for.
1. The length of the trip
Every insurance policy will tell you how long you are covered for.
Since every insurance policy is different, make sure the number of days you plan to be outside the country does not exceed the number of days indicated in your policy.
Remember that the trip begins when you leave your province.
2. The insured person and their age
Check to see who is covered under your credit card and group plan travel insurance.
Sometimes only the cardholder or employee is covered. But what about your family travelling with you?
Credit card companies may also impose an age restriction. Make sure there’s no age limit should you require health care while travelling.
3. The coverage
Travel insurance typically has several components:
- Emergency medical expenses
- Trip cancellation and interruption
- Travel baggage insurance
- Rental car coverage
- Accidental death and dismemberment
Check to see if the coverage offered by your group insurance or credit card company corresponds to your travel insurance needs.
4. Pre-existing condition
A pre-existing condition is a health problem you have (or had) and knew about before your departure.
If you have a known medical condition prior to your departure, if you suffer from an illness before you leave, change or stop taking medications or are under investigation, ask your credit card company or your group travel insurance assistance service if you are covered in the event of a medical emergency abroad.
5. Claim procedure
Some credit card companies will only cover cardholders if the expenses are paid with their credit card.
Before incurring medical expenses abroad, it is recommended you call your insurer’s assistance service. This will make the claim go a lot more smoothly.
Keep all your supporting documents as proof of the healthcare you received while travelling.
6. Amount of the claim
The benefits you are entitled to are always stated in your policy.
Some benefits have a maximum amount. For example, the amount for an emergency repatriation is limited.
Check the maximum amount to make sure the compensation doesn’t penalize you in the event of a loss or damage.
Concerns or questions?
Do not hesitate to contact your credit card company or group insurance assistance service to explain your situation and make sure your travel insurance covers you.
This way, there won’t be any surprises if a medical emergency occurs abroad and you have to make a claim.
Individual travel insurance to the rescue
If the coverage with your credit card or group insurance is insufficient or simply not available, it is recommended that you buy travel insurance.
With this option, you can more easily pick and choose your coverage, especially if you do business with a broker who will get quotes from several insurers.
For the frequent traveller
Annual travel insurance may cost less if you make several trips per year. It will also save you from having to repeat this process before every departure.
*Exclusions and limitations may apply. Please contact your insurance company for more information on your policy.
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