Should You Get Single Trip Travel Insurance?

Should You Get Single Trip Travel Insurance?

Written by Caitlin Wood
Last Updated June 21, 2021

A change of scenery can be just what you need to refresh and recharge yourself, and taking a trip can be a great way to break free from your everyday tasks. Holidays can also provide you with the opportunity to spend some quality time with loved ones or to experience a new place and a different culture.

But taking a trip entails proper planning beforehand, and travel insurance should be part of the process. Any unexpected emergencies can wind up costing you a pretty penny, but with a travel insurance plan in place, you can ensure that you’re adequately covered for the unplanned. 

There are different levels of travel insurance available depending on a variety of factors, including the extent of your travels. In this article, we’ll go over single trip travel insurance plans to help you decide which plan is best for you.

What Is Single Trip Travel Insurance?

As the name suggests, a single-trip travel insurance plan covers you for emergency medical coverage for one trip with a specific start and end date. The policy will begin on the date of departure and end on the day you return. These types of plans are ideal under the following circumstances:

  • You’re only planning to take one or two trips a year.  
  • You don’t plan to go back and forth despite spending the entire winter down south. 

Difference Between Single Trip And Multi-Trip Travel Insurance

Unlike a single trip travel insurance plan, a multi-trip plan provides you with coverage for unlimited trips within the span of a year. That said, these plans are usually subject to a certain number of days per trip, which varies from one policy to the next. Once the limit is reached, you will have to return home before you can continue your travels. 

These plans are better suited for those who plan to travel several times in a 12-month period or will be frequently returning to Canada throughout a winter away. That way, you won’t have to buy separate insurance plans for each trip, which can inevitably save you money overall. And if you plan to stay away longer than the limit, you may be able to purchase an extension to your plan for an additional fee. 

Multi-trip travel insurance plans are ideal under the following situations:

  • You plan to take several trips over a 12 month period.
  • You plan to return to Canada a few times between the date you initially depart and your final return date.

Pros And Cons Of Single Trip Travel Insurance

There are a few perks to taking out a single trip travel insurance plan, but there are also some drawbacks to consider:

Pros: 

  • Cheaper than annual travel plans. If you only plan to go away once in a 12-month period, you can customize your plan so that you only pay for what you need, which is not the case with an annual travel insurance plan. 
  • Easier for seniors to get coverage. A single-trip plan is easier to secure for seniors.  

Cons: 

  • More expensive on a per-trip basis. If you plan to travel a handful of times throughout the year, buying separate policies for each trip will be more expensive than an annual or multi-trip plan. 
  • Coverage only applies to certain days. A single trip travel insurance plan requires that you provide a departure and return date. This time frame will be the only time that you will be covered under the plan. 
  • A new policy will be required for each trip. If you take another trip at some point throughout the year, you’ll need to apply for a new policy. 

Best Single Trip Travel Insurance Providers

There are several places to secure a single-trip travel insurance policy. Here are our picks for the best providers offering these types of plans.

Manulife CoverMe Single-Trip All-Inclusive Plan

The Manulife CoverMe policy for single trips will cover you for medical emergencies and trip cancellations. You can also be covered for lost or delayed baggage, as well as flights or travel accidents that cause death or severe injury. You can apply at any age, and there are no medical questions asked if you’re under the age of 60.

Coverage:

  • Up to $10 million in emergency medical protection
  • Up to $3,500 for trip cancellation/interruption
  • Up to $1,000 for lost or damaged baggage 
  • Up to $500 for delayed baggage
  • Up to $100,000 for flight or travel accident insurance

Exclusions:

  • Pre-existing medical conditions are not stable for 3 months (within category A) or 6 months (within category B and C) before the policy takes effect. 
  • Unstable heart conditions that require nitroglycerine to relieve angina pain during the stability period for your rate category.
  • Unstable lung condition that requires oxygen treatment or Prednisone during the stability period for your rate category.

BMO Single Trip Medical Travel Insurance

Canadian residents and citizens under the age of 60 years can qualify for coverage with the BMO Single Trip insurance plan. You’ll be covered up to $5 million for travel medical emergencies when out of the province or country, as well as for trip interruption, trip cancellation, delays, and baggage expenses.

Coverage: 

  • Up to $5 million in coverage
  • Emergency medical expenses 
  • Private duty nurse
  • Emergency evacuation or air transportation
  • Up to $150 per insured person for other professional services, such as chiropractor or osteopath 
  • Emergency dental expenses
  • 24/7 trip assistance

Exclusions:

  • Pre-existing conditions 
  • Continued treatment of a medical condition if you can return to Canada but choose not to 
  • Participation in hazardous activities or professional sports
  • Pregnancy, childbirth, or complications within 9 weeks of the due date
  • Mental or emotional disorders
  • Self-injury or suicide 
  • Injury while under the influence of alcohol or drugs 
  • Travel to a destination where a travel advisory is issued

RBC Classic Medical Plan

The RBC Classic Medical Plan for single trips is available to those ages 64 and under with no medical questionnaire. This plan is ideal for those who are travelling outside of Canada and want the peace of mind knowing they’ll be covered for an emergency medical expense. 

Coverage: 

  • Unlimited coverage for eligible emergency medical expenses
  • 24/7 trip assistance

Exclusions:

  • Pre-existing medical conditions

RBC TravelCare Medical Plan

The RBC TravelCare Medical Plan is available for travellers aged 65 and over who do not qualify for the classic plan due to their age but still require emergency medical coverage when travelling outside their province or country. Unlike the classic plan, however, a medical questionnaire will need to be completed. 

Coverage: 

  • Unlimited emergency medical
  • 24-hour travel assistance

Exclusions: 

  • Unstable pre-existing conditions

InsuranceHotline

InsuranceHotline is not an insurance company, but rather an online insurance broker that connects you to over 30 insurance providers to help you compare different plans available to you. With a few clicks, you can instantly get multiple quotes for your single trip from different providers and apply directly through InsuranceHotline. 

When applying for a single trip insurance policy, you can choose the type of coverage you need. Depending on your age, there may be a health questionnaire that will need to be filled out to determine whether or not you can qualify for a travel medical insurance policy.

Should You Get Single Trip And Multi-Trip Travel Insurance?

There are a few factors that you should consider before choosing between a single versus a multi-trip travel insurance plan. Use this chart to help you decide. 

Single-Trip Travel InsuranceMulti-Trip Travel Insurance
You plan to take 1 or 2 trips within a yearYou plan to take several trips within a year
You don’t plan on returning to Canada during your winter awayYou plan to return to Canada frequently throughout your winter away

Final Thoughts

Having a travel insurance plan in place is a must if you plan to take a trip outside Canada at any time. But, the plan you choose should reflect the type of travelling you plan to do within a 12-month period. If you only plan to take one or two trips throughout the year, then a single-trip travel insurance plan will do. 


Rating of 5/5 based on 1 vote.

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

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