Article written by Jennifer Black and Dedicated Financial Solutions.
When packing to go south don’t forget to consider your insurance coverage, and know how to make a claim if necessary.
If you are travelling south for a portion of the winter you need to ensure you have adequate insurance coverage. Here are some tips on travel, auto and home insurance for Canadians heading south.
Travel insurance
Review the details of your travel medical insurance policy. Is there a time limit for out-of-country coverage? Does the time limit start over again if you come home for Christmas? What about the terms for pre-existing conditions? If you have visited a hospital or switched medications in the past 12 months, your insurance provider needs to be informed. If you don’t inform them, your coverage may be affected.
Auto insurance
If you are driving south for the winter, will your auto insurance policy cover you? What coverage do you have if you rent a car in the US? Do you have a credit card that will cover the auto insurance on a rental vehicle in the US? Do you need to get separate liability coverage given that claims in the US can be so expensive?
If you are travelling down south by motor home or RV, your policy may need to be adjusted. Although insurance protection on recreational vehicles is similar to regular auto insurance, because this vehicle also serves as a home, it requires a unique policy. If you are increasing the amount of time you are living in the vehicle, the policy may need to be revised.
Home insurance
You should review your home insurance policy to ensure your primary residence will be covered while on vacation. Often insurance policies have specific requirements for when you are away. If you leave your home unoccupied and unattended for an extended period of time, you could VOID the coverage. Often you just need to get a neighbour or family member to check the inside of your home on a regular basis.
So before you pack your bags, be sure to review all insurance coverage so that you will have no surprises, in case of a claim.