Please note that our offices will be closed to observe Remembrance Day. You can leave us a message by calling our toll free number, or by sending an email to firstname.lastname@example.org and we will get back to you as soon as possible when we return to work on November 12. We thank you for your understanding and hope everyone takes a moment out of their days to remember our nation's soldiers and the price they paid.
When you receive you travel insurance confirmation documents, don’t just save the wallet cards and throw the rest away! That confirmation document also acts as your income tax receipt. Many people may be surprised to learn that travel medical insurance is tax deductible as a medical expense. This one simple tip could help many people fit their travel insurance expenses into their overall yearly budget.
It’s important to note, however, that only travel medical insurance is eligible, not trip cancellation or interruption insurance.
Wondering about Travel Insurance costs?
Are you wondering what affects the cost of travel insurance and how you can save money? In this video we will try and demystify the cost of travel insurance and help you find some ways to manage it.
There are four key factors that affect the cost of medical care, and ultimately, affect how much you pay for travel insurance:
The first factor is your age
As we age, the likelihood that we will require medical care increases. This increases the cost for travel insurance coverage. Once you reach a certain age, typically 55, insurance companies require you to fill out a medical questionnaire to review your health. Not only does it help them assess your health, but it also allows them to advise you on the best coverage to meet your medical needs.
The second factor that affects the cost of medical care is the length of your trip - The longer someone is away from their home province the more likely they will need medical care for something that can’t wait until they get home.
The next factor is your health - Simply put, the healthier you are, the lower your premium will be. Having certain pre-existing conditions, or combinations of conditions may have drastic effects on the price of your insurance premiums. However, it will vary depending on how the insurance company views that particular pre-existing medical condition.
The last factor is your destination - The cost of healthcare at your destination can significantly impact your cost of coverage. The U.S. is the most expensive country in the world for medical care. A single day in a US hospital can run as high as $12,000!
Emergency medical transportation back to Canada from a distant or remote location can also be extremely expensive.
Many people believe that they have no control over the price they pay for travel insurance; however, there are a number of ways to save on your insurance costs:
• Increase your deductible
• Choose a deductible that you would feel comfortable paying out of pocket in the event you have a claim. You won’t be covered for the entire claim, but you’ll still be protected against more serious situations.
• Ask about discounts
• Many insurance companies offer discounts through family plans. Purchasing a family plan or buying coverage for multiple travellers at a same time can save you money over buying individual policies or coverage at different times.
Some companies offer discounts for purchasing coverage at certain times of year. Even those that don’t offer seasonal discounts will notify brokers of upcoming price changes. We can help you determine when the best time to purchase is.
• Opt for multi-trip annual plan coverage
• If you are taking multiple trips per year, look into a multi-trip annual plan. These plans provide coverage for trips of a set duration during a 12-month period, and often cost less than purchasing separate coverage for each trip. On top of the cost savings, you will also save yourself the hassle of purchasing a policy for each trip.
Check your destination
If you are flexible on your destination, you may be able to save money by selecting a destination with lower medical care costs. We can help you with this.
There are also two important things to avoid in an effort to save money.
Completing your questionnaire inaccurately. Some people don’t fully disclose their medical condition, worrying it will increase their premium. But if they have a claim, any undisclosed medical condition may result in invalid coverage. Being upfront about your medical conditions will save you money in the long run.
Going with the lowest quote. Not all coverage is the same. We can help you compare plans, deductible options and provide advice on which companies give you the best value.
We invite you to speak with us. Saving money is great; however, saving on your premium at the expense of getting the protection you need, can cost you a lot more in the long run. We’re here to help you make well-informed choices about your travel insurance coverage.
For more information on the cost of insurance or our other travel insurance topics, please visit our website at www.mediquote.ca
Many people these days are bringing a pet when traveling south for the winter. Having your best friend with you can make a long trip much more enjoyable. Plus, you wouldn’t want your precious pooch freezing his tail off or cooped-up inside while you’re living it up in the great outdoors in beautiful weather. For those of you who do bring a dog or even a cat with you, you should take a moment when buying travel insurance to check out your policy’s pet return benefit. Most, but not all policies contain a provision that pays for your pet’s safe return home in the event that something happens to you. It’s an added benefit that many people don’t know about, so if you’re shopping for travel insurance, ask about the pet return benefit before you buy. If you’ve already purchased your insurance, check out your policy wording to find out if a pet return benefit is included.
Tips for travelling with pets by car
Don’t leave your pet alone in a car – A car can heat up very quickly. Even with a window cracked, the heat can rise enough within 30 minutes to cause irreversible organ damage or even death. Unattended pets left alone in a car can also be targeted by thieves. Take your pets out with you, or if you must leave them in the car, make sure to leave with air conditioning on.
Make plenty of rest stops – Take frequent breaks to let your pet out to exercise and go to the bathroom. Make sure that they are wearing a collar with ID tags and use a leash.
Put your pet in the back seat – An airbag deployed on the front passenger seat could injure your pet, even if they are in a carrier.
Don’t let them stick their head out of the window – A dog sticking its head out of a moving vehicle can be injured by flying debris, or made sick by having cold air forced into their lungs.
Bring a buddy – If you’ve got someone to help with caring for your pet on your trip, you can use the washroom or buy food knowing you’ve got someone there keeping your pet safe.
Put your cat in a carrier – Cats don’t like riding in cars. Keep them in a carrier for their safety and your own. Make sure to restrain the carrier with a seat belt.
Travelling by plane
For information about travelling with pets by airplane check out some of the links below.
Government of Canada, Travelling with animals – Has good tips for getting through airport security with your pet.
How stuff works: 5 Tips for flying with your pet - Good general tips.
Congratulations to our Facebook contest winners! N. Hernadi from Calgary won our first prize, which was an Apple iPad air. Our 2nd place winner, J.M. Elliott of Winnipeg won a free night's hotel stay in any Starwoods Hotel in North America. D. Knight, of Calgary won our 3rd prize, a $50 credit to her next travel insurance purchase with Medi-Quote Insurance Brokers.
Wondering about Pre-existing conditions?
Pre-existing conditions are medical conditions that exist before departure, most of which have been discussed, diagnosed, or treated by a doctor. The plan and rate category you are eligible for is determined by your pre-existing conditions.
How do pre-existing conditions affect your travel insurance policy?
When you have pre-existing conditions, getting travel insurance is often based on whether or not your condition is stable. Generally, to be considered stable your condition must meet these conditions:
•There is no new diagnosis, treatment or prescribed medication
•There is no change in treatment or change in medication, including the amount taken or frequency
•There are no new symptoms or more frequent or severe symptoms
•There have been no test results showing deterioration
•There has been no hospitalization or referral to a specialist (made or recommended) and you are not awaiting results of further investigations for that medical condition
You will most likely be covered if your condition is stable. Some medical conditions may require a longer stability period in order to be covered. In these cases you also have some options.
• Some plans offer the option to shorten the stability period for a higher premium or reduced coverage, allowing you to travel with at least some coverage.
• Some companies will even insure a condition that does not meet the stability requirements, usually at significantly higher rates.
• You may also be eligible for a policy that excludes the pre-existing condition but offers you other coverages, such as coverage for accidents.
Another alternative to consider is having your application reviewed by the medical underwriting team, who will individually asses your application and create customized coverage uniquely for you. Watch our video on medical underwriting for more information about this process.
There are many options, and we realize they can be a bit complicated – so talk to us about what will best suit your situation. We are here to help.
It’s also important to realize that if you have travel insurance through your employer or a credit card, you have to review the policy carefully before travelling – many credit card or group coverages do not cover pre-existing conditions.
As you can see, having a pre-existing condition doesn’t mean you can’t get travel insurance. And even if you aren’t eligible for coverage for a pre-existing condition, you can still benefit from coverage for other medical emergencies as well as the other policy benefits like trip cancellation and lost baggage.
Our goal is to get you covered - we will discuss your options with you and help you understand your policy. We are here to help make sure your vacation is worry free.
For more information on pre-existing conditions or our other travel insurance topics, please visit our website at www.mediquote.ca
We often hear from clients who want good coverage and peace of mind knowing they won't have any surprises in the event of a claim while on holidays. In Canada, where the health care system is funded through taxes, health care is not something we are used to spending money on. So when it comes time to purchase travel medical insurance, and prices are high, people look for ways to save money. However, comparing costs between various companies becomes a tricky endeavour because the price alone does not tell the whole story. When you encounter a low low price, it is time to start asking questions about why the price is so low.
Here are some things to consider:
1. Administration fees - A low up-front price may include hidden administrative fees along the way. Some companies charge to make changes to your policy, cancel your policy, or to top-up or extend your policy. Once you buy that plan, you will be stuck paying fees. Please consider these extra fees into the overall price. At Medi-Quote Insurance Brokers we will never charge you extra for these services.
2. Apples to apples quote - If you have a quote from one provider with a $200 deductible, and the other has a $0 deductible, that is not a fair comparison, since a deductible can save you 10 to 50 percent of your premium! We can offer you a variety of deductible options to lower the price of an initial quote.
3. Rates have gone up - If your company's rates have gone up in the last year, that normally means that the company PAYS CLAIMS. It likely means they don't deny as many claims as the companies where the prices have not gone up.
4. Cheap, fast and quality - In our experience, you can’t have all three things at the same time. Usually it's the quality that suffers when only considering price, or convenience.
5. Comparing plans on your own - If you call five companies and get five quotes, it's kind of like being your own broker, rather than using a professional broker. The price you pay is no different whether you buy your policy directly from the insurance company, or through a qualified broker. Ask yourself whether you are really qualified to interpret the fine print of a many different travel insurance policies. Using a broker that specializes in travel insurance could make the difference between whether your claim gets paid or not.
6. Up-front underwriting – The buzz phase this year seems to be ‘purchase from a company that will do their underwriting up-front’. At Medi-Quote, we have been doing that for years for our clients. We track all of your medical history so that we can advise you on how each condition will be considered by your policy wording. No surprises! All you have to do is be sure to list all of your medical conditions for us during our phone call or on our Client Portal in the Medical History tab. It is our job to let you know UP FRONT how those conditions will be treated by your policy.
7. Does their value proposition stand up to our TEAM value proposition? http://www.mediquote.ca/article/our-value-proposition
We just want the best for our clients, and hope you understand how important it is to consider all the facts when comparing one quote to another.
Your medical history determines your eligibility for travel medical plans, especially when over the age of 55. An up-to-date medical history allows our brokers to assess how a change to your medical history effects your travel insurance. This change could be starting, stopping, or changing the dosage of a medication. It could be a diagnosis or being sent for testing or a to see a specialist.
Whether you want clarification about how the change affects your current plan, or you are shopping around for a new plan, we'll be able to advise you on the best course of action or plan options.
Our Client Portal allows you to record when a change happens to your medical and to make a note of what changed and at what date for future reference. After you enter new information you will be asked if you would like us to review the information and contact you in regard to how it pertains to your travel health insurance situation.
We are running a contest this summer to celebrate our 20th Anniversary selling travel insurance. To enter, go to our contest page on Facebook here. Click like to see the contest entry form. Get one entry by entering your address, and then gain an additional entries for each of your Facebook friends who enters the contest after you.
- 1st prize: 16GB Apple iPad Air
- 2nd prize: A free night in a hotel room in a major North American City (See contest page for full restrictions)
- 3rd prize: A $50 credit towards your next travel insurance purchase with us.