Do you really need Travel Insurance?

Whether it’s a weekend getaway or a five-week trip, travel is something to look forward to.

However, it can also be costly. Sometimes, travellers even wonder if travel insurance is worth the cost. After all, why spend money on coverage that may go unused?

Sometimes, we forget that accidents and illness can affect anyone at any time. Whether you are young and healthy or an experienced traveller, we all make mistakes. Sometimes, we might twist an ankle because we misjudge a sidewalk; other times, a taxi or Uber we are travelling in will get into an accident. Life happens, and that is why we have travel insurance.

Canadian residents are covered for certain medical expenses within their own province by their provincial government’s medical plan. However, it's a different story once you leave your home province or your home country.

What you may not know is that most hospitals around the world charge foreigners for unexpected medical and dental treatments, and if you need hospitalisation while you’re travelling, you can get stuck with a steep bill. Even worse, the same thing has happened to Canadian residents who travel outside of their home provinces, but within Canada.

Can you afford a $30,000 USD bill? According to MIT Health, that is the average cost of a three-night stay in a U.S. hospital. Or maybe you want to be on the hook for $20,000 CAD? Because that was the bill provided to an Ontario resident after she needed an Air Ambulance in PEI. Emergency medical travel insurance helps to cover not only the cost of an unexpected hospital stay but also may cover visits to a doctor, transportation by ambulance, emergency dental care, x-rays, medication and more, all of which can add up quickly.

So is travel insurance worth it? Travel Insurance usually costs less than your hotel bill, your car rental costs, or your airfare. It may seem like an unnecessary expense, but trip coverage is really just a modest investment that shields you from the financial repercussions of medical emergencies and other unexpected events. The true worth lies not in its price but in knowing you have support to help you get through a stressful situation.

Comments

The Legacy of Purpose: How Life Insurance Redefines Planned Giving

It is not uncommon to learn by doing. When working with clients on their estate planning needs, I have often asked a simple question: “if you were to die today, would you want to donate some of your estate to any particular charity?”. Oftentimes, that question does not trigger a response. That is not surprising. However, one time, it did. The client’s answer was simple: “I had not given it much thought”. Yet, the conversation did not stop there. My question - if you were to die today, would you want to donate some of your estate to any particular charity - led to a different response: an exchange. After some talking, we made a plan, and that plan led to action. Eventually, we figured out the desired outcome, and she changed her will. Within six months, she had passed; and, a charity received a big cheque. We often don’t think about what would happen once we pass. However, for just a second, imagine that you could give a gift of several thousand dollars to a charity - like an endow...

Don't Play Health Care Roulette: Safeguarding Your Future with Critical Illness Insurance

Medical science is evolving at a historic pace. Breakthrough treatments that were once deemed impossible are now becoming a reality, offering families renewed hope in the face of devastating diagnoses. However, these medical advancements highlight a critical truth about modern healthcare: innovation comes with a significant price tag, and public health systems cannot always cover every cost immediately. Just look at the Lecanemab (brand name Leqembi) - a groundbreaking disease-modifying therapy for early-stage Alzheimer’s disease - and its recent journey through Canada's approval process. This drug's journey is important because it provides one simple example of why personal financial protection, specifically Critical Illness Insurance, is no longer optional in Canada. In February 2026, Canada's Drug Agency - a pan-Canadian health organization, created and funded by Canada’s federal, provincial, and territorial governments - issued an initial preliminary draft recommending ...

Why Critical Illness Insurance Matters….

The field is quietest just before dusk, when the long shadows of the goals stretch across the grass. For Sarah, that patch of green had always been a sanctuary. It was where she had out-sprinted her anxiety during final exams, and where, during a fierce co-ed match in her university days, an accidental collision led to an apology, a post-game coffee, and eventually, a wedding band. Now, that same love of the game lived on in the frantic, joyful energy of her two sons. Watching them chase the ball from the sidelines, she could still hear the precise, familiar thwack of a perfect strike. Sarah’s life had been defined by that kind of momentum. She possessed a quiet, unstoppable drive, earning her Bachelor of Science and started her Masters, before pivoting and securing her doctorate. As a researcher at a major medical facility, her days were spent unweaving complex human puzzles, dedicated to finding answers that would save lives. She was successful, fulfilled, and deeply grounded by the ...

Scantlebury Wealth Management

Search This Blog