You may think that if you have your own health insurance from working for a particular firm or simply living in Yonge condos in Canada, that you don't need to buy travel insurance when you go abroad. If you think this, then you are wrong. You should always have travel insurance whenever you travel, because a host of unexpected occurrences can throw a monkey wrench into your plans. This article will outline the types of travel insurance and how to get them.

There are two types of travel insurance, the first and most important is travel medical insurance. If you live in Halifax and you're traveling west for an Ontario hockey tournament, you don't need this type of insurance, as your provincial medical plan will cover you within Canada. However if you live in Detroit and you're only traveling a few miles north to Windsor, Ontario, you need travel medical insurance, because you've left the country.

Many companies offer travel medical insurance for less than $100. People with pre-existing medical conditions and the elderly will have to pay more, as will people who are going to ride horses at a London, Ontario stable or go rock climbing, as these activities are more dangerous. Some insurers will want to pre-approve your treatment before you have it or will only pay up to a certain maximum per day, so be aware of that, as an emergency can rack up bills fast.

The other type of travel insurance is trip cancellation insurance. This type of insurance absolves you from paying cancellation and rebooking fees if something happens and you can't leave home or must return home early, such as your PEI real estate burning down. This type of insurance is often bundled with your medical insurance and has a cost proportional to what you're spending on your vacation, but most times is under $50.

Most travel agents will offer you an insurance package when you book through them. This is often the best deal. However if you booked on your own, you will need to go shopping for travel insurance. Several sites will give you comparative quotes, but don't just buy the cheapest. Look for one that gives the most generous and flexible terms on rebooking your Toronto B & B or paying for your emergency medical expenses and balance that with the cost of the premium. And remember: always carry proof of your insurance on your person.