Planning a trip this March break?

With your vacation right around the corner, you are busy preparing everything that goes along with taking off to a sunny destination; getting the whole family packed, running around to pick up the last couple items needed and confirming your reservations with the airlines/hotels are only but a couple things that you have to do before jetting away.

But before you jump on that plane, have you thought about travel and health insurance?  

Although our provincial health plan may cover certain unforeseen costs that may be incurred while travelling it doesn’t always cover out-of-country travel.  

As an example, you and your family are travelling to a sunny destination such as Mexico and someone in your party severely injures themselves while out on an excursion. They would require immediate medical evacuation which can run upwards of $50,000. In this case, the provincial health plan will only cover part of the bill and will not pay for the expense up front.  Therefore, it is extremely important to purchase private travel health insurance and to verify the conditions, limitations and requirements of your plan before your departure.

Here are a couple things to look out for when purchasing a travel health insurance plan; 

1. The plan has 24/7 emergency contact numbers in English or French or translation services for health care providers in your destination country
2. Pays for foreign hospitalization for illness or injury and related medical costs
3. Provides coverage for health care provider’s visit and prescription medicines
4. Provides direct payment of bill and cash advances abroad so you don’t incur the expense
5. Clearly outlines deductible costs
6. Covers emergency transportation, such as ambulance services
7. Provides for medical evacuation to Canada
Be sure to carry proof of your private travel health insurance and the emergency contact numbers at all times during your vacation.

Safe travels! 

Written by Geneviève St-Denis, Account Executive, Rhodes & Williams

What YOU need to know about your Valentine’s Day purchases!

With Valentines Day right around the corner, you may be planning a trip to the jewelry store.  Getting your special someone a sparkling gem is very exciting!!  So…in light of the up coming festivities, I will be pointing out some great tips on ensuring your jewelry is adequately covered just in time for the 14th of February!!

Although basic tenants, condo or homeowners insurance might include a limited amount of coverage for jewelry, the coverage is best purchased as an extension, or floater, to your property policy.  A current appraisal is often a requirement however this is something that is commonly provided by the jeweler at the time of purchase.  

Now read very closely. THE BIGGGEST reason why you want to schedule an item is simply because, if a diamond or stone goes missing, it gets replaced and covered for the FULL appraised value.  An added bonus is that the deductible does not apply to this type of claim.

It’s important to keep in mind that jewelry should be appraised periodically to accommodate fluctuation in value and to protect your investment.

Remember, it is of utmost importance to call your Insurance Broker should the value of your item increase.

Happy Valentine’s Day to all you lovers out there!!

Written by Geneviève St-Denis, Account Executive, Rhodes & Williams

See more tips from Geneviève here!