Trip Cancellation coverage protects you from losing the deposit you have paid for your trip or the cost associated with cancelling your trip once you have departed. Once you have paid for your trip, it is likely that the closer you get to the departure date, the higher the penalties are for cancelling.
Most trips become entirely non-refundable two weeks prior to departure.
What this means is that if an unexpected event forces you to cancel your trip and you have no insurance, you will lose the money you have paid. Once you are on your trip, if you get sick and have to return home, trip cancellation insurance will get you home and cover the costs relating to what you have prepaid for hotel rooms etc. A hospital in the United States can charge thousands of dollars per day. Whether or not you are coming to Canada as a visitor, immigrant or returning Canadian, there are few things you need to prepare for. While hospital costs in Canada are not as high as those in the United States, they are rapidly catching up.