Thornhill, ON (June 8, 2016) – An unforeseen medical emergency, cancelled flight or lost baggage are all reasons why you should buy travel insurance before packing up the SUV or boarding a flight on your next vacation.
CAA South Central Ontario (CAA SCO) offers travellers comprehensive travel insurance plans, as well as options to reduce the cost of the policy with the introduction of a new travel insurance deductible.
How do deductibles work?
- A deductible is the amount of money you agree to pay for each eligible claim. Once you pay that amount, your travel insurance company will cover the remaining costs.
- The deductible applies to each traveller included on the policy and for each event.
- If the value of your claim is less than the amount of your deductible you are responsible for the entire payment.
- All deductibles are paid in US dollars.
Benefits of a travel insurance deductible
- By choosing a deductible, you can lower the cost of your travel insurance policy. Deductibles start at $300 US and savings begin at 10 per cent.
- Travellers get to choose the dollar amount of the deductible. The rule of thumb is to pick a deductible amount you can afford to pay in the event of a claim. Deductibles are not mandatory and are not right for everyone.
- Being willing to pay for some of the cost of a claim can save you money upfront when buying an insurance policy.
CAA Travel Insurance offers multiple plans to suit your needs. For more information, talk to a travel insurance agent by phone at 1-800-437-8541, or drop by a CAA Store near you.
CAA Travel Insurance is underwritten by Orion Travel Insurance Company.
About CAA South Central Ontario
For over a hundred years, CAA has been helping Canadians stay mobile, safe and protected. CAA South Central Ontario is one of nine auto clubs across Canada providing roadside assistance, travel, insurance services and member savings for our 2 million members.
Source: CAA South Central Ontario