Vacation season is in full swing. Whether you're planning a road trip across Canada, a beach getaway down south, or a big international adventure, the last thing you want to think about is something going wrong. But here’s the thing, travel insurance isn’t just for the overly cautious. It’s for anyone who wants peace of mind while they’re away from home.

Because when something does go wrong (and it often does), it can get very expensive, very quickly.

The Cost of Not Being Covered

Let’s start with the biggest reason to get coverage: medical emergencies.

Your provincial health plan (like MSI in Nova Scotia) only covers a fraction of medical costs when you're outside Canada, and sometimes even less when you're in another province. If you need a hospital stay in the U.S., for example, it could easily run you $10,000 to $50,000 or more. An air ambulance home? That could top $75,000.

One study found that 1 in 3 Canadians who travel abroad end up filing a medical claim. And those are just the ones who have coverage. Imagine the financial stress if you had to pay all of that out-of-pocket.

Even a simple injury, like twisting your ankle on a hike or getting food poisoning, can cost thousands.

But It’s Not Just About Health

Travel insurance goes far beyond medical coverage. A good policy also protects you from:

• Trip cancellation – If something forces you to cancel your trip before you leave (think illness, death in the family, job loss), you can recover the non-refundable costs like flights and hotel bookings.
• Trip interruption – If you need to cut your trip short unexpectedly, insurance can help with extra travel costs or reimburse you for the unused part of your trip.
• Lost or delayed luggage – If your bags don’t make it (which happens more often than you think), you’ll be covered for essentials like clothing and toiletries.
• Travel delays – Covers meals, hotel stays, and rebooking fees when flights get delayed or cancelled.
• 24/7 support – Most plans offer emergency hotlines that can help you find a doctor, replace a lost passport, or rebook travel plans in a crisis.

What Happens If You Don’t Have It?

Without travel insurance, you're flying without a safety net. Here’s what that could look like:

• You get into a minor car accident in the U.S. and end up with a $20,000 hospital bill. You have to pay it upfront before you’re even discharged.
• Your flight gets cancelled due to weather, and you’re stuck overnight with no hotel or rebooking support.
• You lose your passport and have no one to call for help navigating the embassy or arranging emergency documentation.
• You get sick in Europe, need to cancel the rest of your trip, and eat the cost of non-refundable tours and flights home.

In these situations, insurance could’ve saved you thousands—and a lot of stress.

Tips for Getting the Right Coverage

If you’re thinking, “Okay, I’m in. But how do I pick the right plan?”, here are a few quick tips:

1. Buy early. Some benefits like trip cancellation only kick in if you purchase insurance soon after booking.
2. Be honest. Disclose any pre-existing medical conditions. If something happens and it turns out you withheld info, your coverage could be denied.
3. Read the fine print. Make sure your plan covers what you need, like high-risk activities (skiing, scuba, hiking), or travel in certain regions.
4. Bundle if you travel often. If you take multiple trips a year, an annual multi-trip plan might save you money.
5. Talk to an advisor. They can help match the right policy to your travel style and financial situation.

Final Thoughts

Travel is meant to be fun, relaxing, and memorable—for the right reasons. Travel insurance is one of those things you hope you never need, but you’ll be so glad to have if the unexpected happens. So before you check in for your flight or hit the road this summer, take a few minutes to get covered. It's a small price to pay for peace of mind. Because whether you’re exploring Europe, road-tripping across the U.S., or just heading out of province, you never know what might come up, and having travel insurance means you don’t have to worry about it.

^{*The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This article was written by Rick Irwin, for the benefit of Rick Irwin, Mutual Fund Representative with Trinity Wealth Partners, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds are offered through Investia Financial Services Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.}