Trip Cancellation Insurance Canada
Trip Cancellation Insurance Canada provides financial protection in the
event that a prepaid trip is canceled. Many trips are non-refundable after booking and very costly. Especially when air travel is involved. Insurance for Trip Cancellation covers specific events for which a trip might be canceled. If the specific event does not occur then the travel insurance policy will not cover the lost funds.
If the reason for canceling is covered in your policy you will be reimbursed for the non refundable amounts that you can not recover.
It is important to note that this coverage must be purchased within a certain time frame of booking your trip. Usually the time frame is 48 hours. You should compare the coverage that your travel provider offers with what coverage you might be able to buy privately and with what you might have through group insurance at work or a credit card. Odds are a privately purchased plan will have the best coverage (least exclusions, longest list of reasons that a claim can be made).
Another good reason to consider a private travel insurance policy is pre-existing conditions. In Canada, travel insurance sold privately can take pre-existing conditions into account if they are disclosed in advance. Most group plans, credit card plans, and travel agent provided plans exclude pre-existing medical conditions.
Trip Cancellation Insurance Canada plans can also offer Trip Interruption which is for having to interrupt the trip early. This is also good to consider.
Common Trip Interruption Travel Insurance Coverage Includes
Please note that this is not a complete list and there may be limitations of coverage – refer to policy wordings
- Death, sickness, injury of you, a travel companion, immediate family member or business partner
- A pregnancy discovered after booking the trip when a physician recommends against travel OR complications of pregnancy
- Death or hospitalization of the host at your destination
- Cancellation of a business meeting if the sole purpose of the trip was that meeting
- The rescheduling of post secondary school exam
- Your selection for jury duty or court subpoena OR your summons to military duty
- The relocation of your principal residence due to an unforeseen work transfer
- Refusal of a visa application
- Involuntary loss of employment
- Certain Terrorist activity at your destination
- Canadian government warning about travel to this destination after you have purchased the tickets
- cancellation due to weather
The exclusions are just as important to review as the coverage and limitations of coverage. Please read your policy carefully!
Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page.
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