With the reality of airline delays, cancellations, and other unexpected travel issues, the expenses associated with travel remain steep. But travellers who rely solely on their credit cards and the government for travel insurance may be unaware of the potential risks.

With this in mind, online travel insurance broker InsureMyTrip.ca, offers some advice on how Canadians can protect their travel investment, while staying on budget:

Understand credit card limitations 

The extent of coverage depends on the specific card, and it may fall short. Credit card coverage is often restricted to expenses directly paid for with that card and may only address fundamental issues that could arise before or during one’s journey.

Even if a credit card offers trip protection, it may not be the level of protection expected. It’s important to carefully read the credit card travel insurance documents to understand limits, special conditions, and restrictions.  Also, credit cards often have lower limits than a robust third-party travel insurance plan.

Canadian government shortcomings 

Just as relying on a credit card for travel insurance can lead to surprises, assuming that province-wide or Canadian medical coverage will suffice while travelling abroad can become a costly and frustrating oversight.

Canadian health insurance plans have service and cost limits when travelling outside your province. And if you become unexpectedly injured or ill while travelling out of Canada, you will have to pay for those medical bills out of pocket, unless you have travel medical insurance.

All-inclusive insurance benefits 

All-inclusive travel insurance plans offer coverage for emergency medical expenses, medical evacuation, baggage and baggage delay, and trip interruption and trip cancellation, all under one policy.

“As with any purchase, it’s important to shop around and compare,” says InsureMyTrip CEO Suzanne Morrow. “InsureMyTrip allows travellers to comparison shop for providers and policies to find the best one for them and their trip at a price within their budget. All-inclusive plans offer the most bang for your buck.”

A third-party plan can also include “cancel for any reason” benefits, allowing more flexibility for those who must cancel a trip for a reason other than a covered one. This benefit typically reimburses up to 50% of the covered trip cost, allowing the policy holder to recoup a good portion of the trip cost.