What to know about insurance in 'summer of travel hell' - BNN Bloomberg

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What to know about insurance in 'summer of travel hell' - BNN Bloomberg
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With delays and other problems expected to continue for travellers at Canadian airports, industry experts say it’s a good idea for travellers to consider buying travel insurance for their trips.

The chance of a holiday after years of lockdowns has been hot on the minds of Canadians since the spring, but continued issues at airports have mired the experience.

With delays and other problems expected to continue for some time, industry experts say it’s a good idea for travellers to consider buying travel insurance for their trips; and more importantly — understand what they will be covered for. “There’s a stronger desire for cancellation insurance than there ever was,” says Vanderlubbe, who also sits on the board of directors at the Association of Canadian Travel Agencies. He advises travellers to understand their policy well, noting that many people made wrong assumptions last fall during the Omicron wave of the pandemic.

Another policy that could look appealing to travellers who are nervous about scenes of airport chaos is baggage insurance. Firestone says he’s not a fan of the product, noting that many insurers only pay for essentials if bags are delayed beyond three to six hours, and for lost baggage after 30 days.While travel agents say their sales are still not back to pre-pandemic levels, it’s clear that pent-up demand has boosted bookings this year.

So far, according to insurers and travel agents, there has not been an unusual increase in premiums due to the rising demand.Sheila Burns, a director at the CLHIA, which also represents 28 travel insurers, says there has been no change to premiums in response to travel disruptions this year.

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