Ralph Moss Limited

INSURANCE STRATEGIES

Due south? Protect yourself, and enjoy a worry free holiday.

If a trip south is on your agenda this winter, make sure your holiday isn't disrupted because of insufficient health insurance, home protection, or car insurance.
Health insurance. - Out-of-country coverage for snowbirds is essential. If you're hospitalized in the United States for just one week, the bill could easily be as much as $100,000 - of which your provincial health plan will pay only a small part. British Columbia, for example limits out-of-country claims to just $7 a day. Other provinces are more generous, but coverage is still far below typical U.S. medical fees.

T here's a growing army of self-employed Canadians—more than 2.2 million of them with special insurance needs. Their ranks have increased to 14% of the working population today from 1 1% in 1975. If you're among them you need business, life, medical, travel, and disability insurance to protect yourself and your family.
The cost for appropriate coverage will depend on your age, health, and the length of your visit. A couple in their sixties without any health problems can expect to pay around $2,000 for 180 days of family coverage. (Remember that health insurance premiums qualify for the medical tax credit, so the final cost of coverage after you do your tax return maybe less.)

Home insurance. Check that your homeowner's policy is up-to-date, adequate, and fully paid. Arrange to have someone check your house regularly while you're away. Failure to do so could invalidate a claim if, for example, a burst water pipe causes extensive damage. To make your house look occupied, arrange to have driveways and sidewalks cleared of snow, papers picked up, and automatic timers installed to operate lights and radios. (For more tips see 7 ways to keep your home secure)

Auto insurance. If you plan to rent a car in the U.S., consider a rider on your existing policy to give you the protection you'll need. Some premium credit cards include insurance on rental cars, but make certain it's adequate.

For more information or to have one of our consultants discuss Out-of-Country Travel Health Insurance with you please contact us at 1-888-MOSS LTD or you may email us