5 Best Travel Insurance For Canada– Price And Coverage
5 Best Travel Insurance For Canada– Price And Coverage
Health in Canada is expensive since a simple medical visit can cost between 100 and 1,000 dollars. This means that it is necessary to have travel insurance to Canada. to be covered in the event of the unexpected.
When we plan a trip, we never think that we are going to need medical assistance or that we are going to lose luggage, but these things happen, and, in these cases, it is better to have good travel insurance for Canada.
Best travel insurance for Canada
If you have come here looking for health insurance to travel to Canada, you will find a comparison of the most important insurers on the market in this guide. But let me tell you that we have been using Mondo for more than three years because it is the one that offers us the best price coverage ratio.
- Is travel insurance necessary for Canada?
- How much does Canada travel insurance cost?
- What is the best health insurance to travel to Canada?
- What should Canada travel insurance cover?
- Is it worth buying travel insurance for Canada?
IS TRAVEL INSURANCE NECESSARY FOR CANADA?
It is not mandatory to have travel insurance to Canada, but it is recommended considering that healthcare in the country is private and very expensive. Of course, it is also of very good quality. Canada is a very safe country to travel to (as long as you have insurance).
For this reason, although it is not one of Canada’s entry requirements, I recommend that you take out travel insurance that covers COVID because in the event of urgent medical Assistance, whether due to illness or accident, the bill could easily reach three figures.
Is travel insurance necessary for Canada?
Also, considering the current situation, in which COVID-19 still causes infections, it is now more important than ever to have travel insurance in Canada. In this way, tests and treatment would be covered in case of contagion by a coronavirus and also the extension of stay due to quarantine or early return if necessary.
Although there is always talk of medical insurance for travellers in Canada, it is also important to take out the extra trip cancellation insurance, since in case of not being able to travel due to any unforeseen event, for example, if you test positive before the trip, you could recover the money invested.
HOW MUCH DOES CANADA TRAVEL INSURANCE COST?
The price of travel insurance for Canada depends on the number of days the trip lasts, the month of the year in which the trip is made, and the country of origin.
To determine which is the best travel insurance for Canada, below I show you a comparative table in which the five best insurers on the market appear: Mondo, IATI, Intermundial, Mapfre and Chapka.
From each of the insurers, I have chosen the most basic travel insurance and selected a 15-day trip to Canada from Spain for a 30-year-old traveller.
As you will see, of the five insurers analyzed, two, IATI and Mapfre, offer low medical coverage compared to the rest. You will also be able to see that although all the insurances have prices ranging between €42 and €58, Intermundial skyrockets are by far the most expensive.
WHAT IS THE BEST HEALTH INSURANCE TO TRAVEL TO CANADA?
As you will have seen in the table, Mondo is one of the cheapest insurers, and it is also the one that offers travel insurance for Canada with the most medical coverage. For this reason, I recommend the insurance to those travellers who will visit Canada.
We currently have the annual multi-trip insurance with Mondo, but when we made our 15-day trip through the Rocky Mountains, we contracted the insurance for a specific trip.
Below I analyze what each of the insurers offers so that you can see which is the best travel insurance to Canada for you.
- WORLD, THE BEST TRAVEL INSURANCE FOR CANADA
Travel insurance to Canada should cover the maximum possible amount since this country’s medical care cost is very high (the same as if you are looking for travel insurance in the United States ).
Of all the insurances analyzed, Mondo is the one that covers the most since it reaches €500,000 in medical Assistance, including COVID-19. In addition, it is possible to extend this coverage by contracting the Top Trip modality or the Premium Trip modality.
If you want to be covered only in medical Assistance, Mondo offers the Assistance Only modality, which covers €1,000,000. However, I do not recommend this for a trip like Canada since you would no longer be covered in the event of theft, trip cancellation or other types of incidents that are also important.
One of the main advantages of Mondo, in addition to its prices and coverage, is that it is unnecessary to advance money. The traveller should only contact the insurer if they need assistance to find out which hospital or medical center to go to. From here, Mondo takes care of everything.
Another of Mondo’s advantages is that it has a medical chat available 24 hours a day and 7 days a week, including holidays, which is very useful for quickly solving doubts.
Mondo is, for all this, the best medical insurance to travel to Canada.
PROS CONS
- €500,000 of medical coverage in your cheapest travel insurance (€1,000,000 if you opt for only medical Assistance)
- Includes testing and treatment for COVID-19 abroad
- It is not necessary to advance the money
- cheaper insurance
- 24-hour medical chat
- Trip cancellation is optional and is not included in any insurance
- IATI, A GOOD MEDICAL INSURANCE TO TRAVEL TO CANADA
IATI is a very popular insurer, and its prices tend to be among the lowest on the market. However, its coverage is lower than Mondo’s, which for just over €2 (for 15 days) goes from €50,000 to €500,000 in medical expenses. It also has less coverage in case of theft, loss or damage to luggage since it only covers €500. Of course, just like Mondo, it has coverage in case of infection by COVID-19 during the trip.
We used IATI before Mondo, and we didn’t have any problem with them, except for the application, which at that time was a bit slow and with one incident, it was difficult for us to contact the support service. Something that has improved over time.
One of the advantages of IATI is that, like Mondo, it covers expenses upfront. If the traveller needs medical Assistance, the insurer takes care of everything from the first moment. This makes it, without a doubt, good insurance to travel to Canada, although if you contract IATI, I recommend you take insurance that has greater coverage even if the price is higher.
PROS CONS
- It has numerous types of insurance to suit all types of travellers
- Includes testing and treatment for COVID-19 abroad
- It is not necessary to advance the money
- cheaper insurance
- Trip cancellation is optional and is not included in any insurance
- The application can give errors, which slows down contacting them
- Fair coverage for travelling to Canada
- INTERMUNDIAL, ANOTHER INSURANCE FOR TRAVEL TO CANADA
Intermundial is another travel insurance for Canada, and although its coverage is quite good since it covers up to €300,000 in medical expenses, including the coronavirus, its price is very high compared to other insurers. In addition, it does not cover theft, loss or damage to luggage.
Like Mondo and IATI, Intermundial takes care of the expenses from the first moment, so the traveller does not have to worry about a thing. This makes it a good health insurance for tourists in Canada, although considering its price and coverage, Mondo is still a better option.
PROS CONS
- Includes testing and treatment for COVID-19 abroad
- It is not necessary to advance the money
- Good medical coverage
- Trip cancellation is optional and is not included in any insurance
- The price of your insurance is very high
- Does not cover luggage
- MAPFRE, A TRAVEL INSURANCE FOR CANADA TO HIRE
Mapfre is one of the best-known insurers, especially for its home, car and life insurance, but it needs to stand out in travel. Your travel insurance to Canada is the least covered in medical Assistance and is not exactly the cheapest. Even IATI, which is the cheapest, doubles its coverage. In addition, it does not specify whether tests and treatment in case of infection by COVID-19 are included in your policy.
This insurer has another major drawback: it does not advance the money. The traveller must take charge of the expenses, keep all the corresponding documentation and claim the reimbursement later. Having other travel insurance for Canada that does advance money, such as Mondo, is consistent with Mapfre.
Of course, if you are already a Mapfre customer, I recommend you call since sometimes they offer better coverage and conditions.
PROS CONS
- Customers are sometimes offered better conditions
- Trip cancellation is optional and is not included in any insurance
- It does not specify if it covers tests and treatment in case of contagion by COVID-19
- It has lower coverage than other insurers
- The traveller must advance the money and claim it later from the insurer
- CHAPKA, ONE OF THE RECOMMENDED TRAVEL INSURANCE TO GO TO CANADA
Chapka is another medical insurance to travel to Canada, and although it is not the cheapest, it covers up to €200,000 in Medical Assistance. It is not an insurance that stands out, especially since Mondo is cheaper and covers €300,000 more, but it is better than Mapfre.
Like Mapfre, Chapka does not advance medical expenses, so if an incident arises, the traveller must pay everything and then file a claim to obtain reimbursement. This can be a problem since the bill is very high, and the traveller may need help to pay it.
If you are looking for vacation insurance in Canada, you hire one that does take care of the expenses from the first moment.
PROS CONS
- Includes testing and treatment for COVID-19 abroad
- Acceptable insurance coverage and price
- Trip cancellation is optional and is not included in any insurance
- The traveller must advance the money and claim it later from the insurer
WHAT SHOULD CANADA TRAVEL INSURANCE COVER?
Now that you have seen the comparison so that you have a clearer idea of which travel insurance to choose for Canada, I will explain what coverage you should have.
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MEDICAL CARE IN CASE OF ILLNESS
Any travel insurance to Canada must have good medical coverage abroad and must cover in case of illness or accident. The policy must specify that COVID-19 is covered since insurers exclude it.
Mondo, the best health insurance in Canada for tourists, covers up to €500,000 for cases of illness, including coronavirus, and €150 in emergency dental expenses. Of all of them, in its most basic modality, it is the one that covers the most.
ACCIDENTS
Accidents must be included within the medical coverage, as well as bodily damage that may occur in the event of an accident in a motor vehicle.
accidents
No travel insurance to Canada includes medical Assistance in the event of an accident while practicing risky sports. If you practice any activity of this type, you must include extra-risk sports. In addition, in the case of Mondo, you will need to contact the Top or Premium modality.
LOSS AND THEFT OF LUGGAGE
The best travel insurance for Canada should cover luggage in different situations, whether theft, loss or damage during travel. The amount of this coverage is also very important since this type of situation occurs more than we imagine.
Mondo is the travel insurance with the most coverage since it reaches €1,500 or €750 if it is electronic equipment. These amounts can increase to €3,000 (€1,500 if electronic equipment) if the Top or Premium modality is contracted.
TRIP CANCELLATION
Insurance to go to Canada should include trip cancellation if you must cancel your vacation.
trip cancellation
Normally the trip cancellation must be contracted as an extra, but it must cover 100% of the amount spent on flights, transportation, hotels, or activities not enjoyed.
OTHER COVERAGES
In addition to the coverage above, good travel insurance to Canada should cover repatriation or early return in case of illness, hospitalization, Death of a family member, or the insured himself. It is also important that it covers civil liability and legal expenses or legal Assistance.
In the case of Mondo, the insurer also covers the service of an interpreter, something very useful if you are in a country where they speak another language, in case it is needed for the transmission of urgent messages, the cancellation of credit cards, the loss of documents or any other problem.
IS IT WORTH BUYING TRAVEL INSURANCE FOR CANADA?
The flights, the rental car, the hotels, the excursions, the meals… Travelling to Canada is expensive, so if you are considering cutting back and planning to go without travel insurance, I recommend you think twice. The price of travel insurance to Canada, like Mondo, is quite low. Ridiculous when compared to how much a single medical visit would cost in this country.
If you want to save money, I recommend you consult our guides to travel cheaply.
How Does Life Insurance Work in Canada?
Life insurance in Canada belongs to the private sector; therefore, it can only be purchased through insurance companies. As you already know, this policy is designed to deliver a lump sum to a beneficiary just after the owner’s Death. However, the amount to obtain will depend on the contracted policy. Currently, in Canada, you can buy 2 types of insurance that are:
- Term life (10 or 20 years) or until a certain age is reached (for example, 80 years).
- Universal and Permanent Life (no age limit).
How much does Life Insurance cost in Canada?
The policy’s price will depend on the type of insurance you contracted; the premiums also vary depending on the protection you choose. Although, in general terms, a Canadian with life insurance pays around $60 (CAD) per month for this policy. Therefore, it would be around $720 (CAD)/year exclusively to guarantee a life policy.
Now, as with any other insurance system, monthly premiums increase based on each patient’s age and level of risk. Likewise, the insurance company can cancel your policy if you do not make timely payments.
Now, in Canada, you can find companies that offer rates as low as $13 (CAD) and others that request up to $150 (CAD) per month. Why is there such a difference? Simple: Life insurance policies are built around people and can be as unique as you want.
Before getting a quote online, knowing your liabilities and assets is a good idea. Also, it is important to be clear about the amount of money the holder’s facilitation may require (after Death). Below, we leave you an average price for the term and permanent life policies in Canada:
Policy Type Death benefit $250,000 Death benefit $500,000
10-year term $16/month on average $23/month on average
20-year term $22/month on average $35/month on average
30-year term $37/month on average $67/month on average
Entire life $120/month on average $210/month on average
Is there Public Life Insurance in Canada?
No, Canada’s public health system does not offer free life insurance. Therefore, all contracts are obtained through private companies.
Types of Life Insurance in Canada
In Canada, there are two main types of life insurance: term (term) and permanent. Next, we tell you a little more about each of them:
- Term Life Insurance. These policies are purchased for a set period, for example, 10, 20, or 30 years. It is usually cheaper than permanent life insurance.
- Whole or Permanent Life Insurance. It is a very common type of insurance; it does not expire. Offers coverage for a lifetime. However, other types of permanent insurance include universal and term insurance up to 100 years. The value of universal life insurance is based on the underlying investments in the policy. Meanwhile, (term-to-100), known in English, provides coverage for up to 100 years and has no cash value.
Overall, term life insurance and permanent policies are often crowned Canada’s best life insurance options. You should know that there are other differences between these two. For example, with the permanent, you can pay your premiums early and still have coverage. With term insurance, once you stop paying, the coverage is over.
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