The optimal time to purchase travel insurance is immediately after making your first trip payment or deposit. This ensures you have the longest possible coverage window for trip cancellation protection. Some benefits, like pre-existing condition waivers, are only available if you purchase insurance within 14-21 days of your initial trip payment. Last-minute coverage is still valuable for medical protection, but you'll miss out on cancellation benefits for events that occur before your purchase date.

Provincial health plans provide very limited coverage outside Canada, typically reimbursing only a small fraction of foreign medical costs (often just 5-10% of the actual expenses). Even when traveling within Canada but outside your home province, coverage can be limited. For example, ambulance services, prescription drugs, and medical evacuation are often not covered. Travel insurance fills these significant gaps and provides additional benefits like trip cancellation and baggage protection that provincial plans don't offer.

Common exclusions include: pre-existing medical conditions that aren't stable (unless specifically covered); high-risk activities like bungee jumping or paragliding (unless you purchase adventure sports coverage); travel to countries with government travel advisories; incidents related to alcohol or drug use; pregnancy complications after a certain gestational period; mental health conditions (with some exceptions); and self-inflicted injuries. Additionally, "known events" like announced strikes or named storms are typically excluded once they become foreseeable.

While premium credit cards offer some travel benefits, they typically have more limitations than standalone policies. Credit card coverage often has lower benefit limits, shorter trip duration maximums, and more exclusions. Additionally, to qualify for certain benefits like trip cancellation, you must charge the entire trip to that specific card. Medical coverage through credit cards is particularly limited, with many cards offering no emergency medical benefits at all. Credit card coverage works best as a supplement to, not a replacement for, comprehensive travel insurance.

For medical emergencies, contact your insurer's 24-hour assistance line before seeking treatment whenever possible. They can direct you to appropriate facilities and initiate the claims process. For non-emergency claims, document everything: take photos of damaged items, keep all receipts, and obtain police reports for theft or official statements for flight delays. Most insurers now offer mobile apps for initiating claims while still traveling. Always keep your policy number and emergency contact information readily accessible, and be aware of claim filing deadlines, which typically range from 30-90 days after the incident.