We often hear from clients who want good coverage and peace of mind knowing they won’t have any surprises in the event of a claim while on holidays. In Canada, where the health care system is funded through taxes, health care is not something we are used to spending money on. So when it comes time to purchase travel medical insurance, and prices are high, people look for ways to save money. However, comparing costs between various companies becomes a tricky endeavour because the price alone does not tell the whole story. When you encounter a low low price, it is time to start asking questions about why the price is so low.
Here are some things to consider:
- Administration fees – A low up-front price may include hidden administrative fees along the way. Some companies charge to make changes to your policy, cancel your policy, or to top-up or extend your policy. Once you buy that plan, you will be stuck paying fees. Please consider these extra fees into the overall price. At Medi-Quote Insurance Brokers we will never charge you extra for these services.
- Apples to apples quote – If you have a quote from one provider with a $200 deductible, and the other has a $0 deductible, that is not a fair comparison, since a deductible can save you 10 to 50 percent of your premium! We can offer you a variety of deductible options to lower the price of an initial quote.
- Rates have gone up – If your company’s rates have gone up in the last year, that normally means that the company PAYS CLAIMS. It likely means they don’t deny as many claims as the companies where the prices have not gone up.
- Cheap, fast and quality – In our experience, you can’t have all three things at the same time. Usually it’s the quality that suffers when only considering price, or convenience.
- Comparing plans on your own – If you call five companies and get five quotes, it’s kind of like being your own broker, rather than using a professional broker. The price you pay is no different whether you buy your policy directly from the insurance company, or through a qualified broker. Ask yourself whether you are really qualified to interpret the fine print of a many different travel insurance policies. Using a broker that specializes in travel insurance could make the difference between whether your claim gets paid or not.
- Up-front underwriting – The buzz phase this year seems to be ‘purchase from a company that will do their underwriting up-front’. At Medi-Quote, we have been doing that for years for our clients. We track all of your medical history so that we can advise you on how each condition will be considered by your policy wording. No surprises! All you have to do is be sure to list all of your medical conditions for us during our phone call or on our Client Portal in the Medical History tab. It is our job to let you know UP FRONT how those conditions will be treated by your policy.
- Most policies will cover expenses related to an unexpected medical condition, but few offer coverage for conditions you already have. We are here to alert you to insurance policy gaps.
- Many policies will cover expenses related to an unexpected new medical condition, but only certain policies offer coverage for conditions you currently have. As an independent travel and medical insurance broker, we provide our clients with an unbiased perspective on a range of insurance products. That’s why our motto is, “We don’t sell you insurance, we help you buy it.” We do a full consultation with you to understand your medical history and medical insurance needs. We help you wade through the fine print to ensure that the policy you buy is the right one for you.
Choosing the Right Travel Insurance For You
We just want the best for our clients, and hope you understand how important it is to consider all the facts when comparing one quote to another.
The Medi-Quote Insurance promise includes assisting you with your travel insurance every step of the way.
Quality Coverage – You deserve the best coverage possible. We’ll work with you to make sure that current and/or future medical conditions are covered under the policy you purchase. We’ll also help you to find the best value for your insurance dollar.
Clear Options – We take the time to thoroughly explain your policy options in plain language so that you can make the best choice and understand the coverage you will receive.
Advocacy – If you have done everything right, but find you are having a problem with your claim, we will advocate on your behalf.