Most of the people get overwhelmed by the available plans and their coverage schemes. It creates confusions and misleads the buyer in purchasing the right travel insurance plan. This article will help the first-time buyers as well as experienced to compare and buy the best coverage plan for their traveling needs.
Different Types of Travel Insurance Policy:
First of all the buyer needs to have complete understanding on the available options and exclusions associated with every Travel Insurance plan in Canada. According to the traveler’s needs and medical conditions the coverage plan gets customized. There are different types of policies to choose from consistent with your own circumstances, like; the trip length, you are in a group or traveling individually, your age, etc.
1. Single Trip Travel Insurance
With this policy, the traveler covered for a single trip and it is viable for an individual, a couple or a family. The buyers need to purchase the policy before each trip. If you are a frequent traveler then it is not the ideal choice for you instead of opting for an annual multi trip package.
2. Annual Trip Travel Insurance
Annual or multi trip packages are more cost effective and recommended for the regular travelers. Mostly in an annual policy the traveler gets flexibility to plan for a number of tours during the term. In this manner, this option is cheaper than single trip. Somehow the insurer anchors some limitations like setting a max number of allowed trips and voiding the policy if the traveler spends more than 90 days abroad in one go. This is available for both individuals and groups.
3. Worldwide Travel Insurance
If you have a plan to travel multiple cities and countries this year then go for this option. It may also beneficial for a gap year or backpacking trip, if it is purchased as an annual policy.
4. Backpackers Insurance
Traditional travel insurance will not generally meet your requirements for students and backpackers on a gap year trip. A separate plan recommended for this particular group to suffice the need of long term coverage.
5. Family Travel Insurance
New Year or Christmas like holidays insists the parents to take out their kids for outing. It is advised to go for this coverage plan which will be cheaper and ideal for a...