Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
76% - Very Often

Travel Insurance

Synonyms:Canadian travel insurance, travel coverage, travel insurance plans
Filed Under: insurance
Tags: insurance, travel insurance

Definition of travel insurance

travel insurance
1. A form of insurance policy that provides coverage for any unforeseen events and outcomes that may occur during an out of province or out of country trip. Depending on the policy selected, travel insurance can cover medical expenses, trip cancellations, damage to rental equipment, theft or damage to personal belongings, or in some cases, kidnapping and ransom (K&R).

Related Terms and Acronyms:

  • accidental death and dismemberment insurance   Insurance coverage for death or dismemberment (the loss of a body part).
  • broad form insurance   Insurance that covers rare events not normally covered in an existing insurance policy.
  • healthcare plan   Insurance that can cover medical and dental expenses for insured people.
  • insurance (insur)   An arrangement where one party provides financial protection to another party for specific damages or losses.
  • insurance claim   An application for benefits made by an insurance policyholder after an insured event.
  • insurance policy   A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
  • kidnap and ransom insurance   Insurance that covers expenses involved if an individual is kidnapped and ransom payments are made.
  • life insurance   An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
      ➥  CanEquity offers life insurance.
  • pre-paid insurance   A insurance policy where insurance premiums are all paid in advance, normally offered in one year terms.
  • world insurance   Insurance that provides coverage worldwide.

More Related Terms and Acronyms

Search the Glossary

Current Canadian Rates
For the best rate information in Canada, make use of our up to date interest rate comparison chart. Our brokers are not even remotely afraid of advertising our competitor's rates because we know how we stack up.
Best Current Rate Information
Our Mortgage Loan Calculator
You will have quite a few decisions to make about your home purchase, but you can simplify the process by using our mortgage calculator. Try different rates, terms, and amortizations and see what modifying your mortgage payment schedule from monthly to biweekly or weekly payments will do to affect what your mortgage will finally cost you.
Try it Loan Calculator
Mortgage Rates
If you look for a mortgage online, you'll soon see that from one lender, bank, or broker to the next, the rates offered can be substantially different. Some high, some low. Compare the best mortgage rates and make sure your money isn't being wasted.
Mortgage Rates