Travel habits are changing. Insurance coverage must change too.
On June 3, I marked my 30th year in the insurance industry. Over the years, I’ve witnessed how our society has evolved. People’s habits and their insurance needs have, as a result, changed over time. Having worked with virtually every type of insurance throughout my career, I’ve now decided to focus on the evolution of the wonderful world of travelers—and, more specifically, that of snowbirds.
When I took over as president of MédicFlorid International in the fall of 2015, the vast majority of our clients would leave in the fall for a six-month period. Gradually, the baby boomers have aged, and a new generation has begun to take center stage.
Today, this new generation of snowbirds travels differently.
We’re now seeing travelers who leave for 30 to 60 days and then return. Sometimes to visit family, often for work, or even to manage their real estate portfolio. Since it’s becoming easier to work remotely, more and more people are deciding to take multiple trips a year while continuing to work. It’s no longer just about escaping winter—it’s a lifestyle centered around travel.
The new generation loves to be on the move. They’ll spend two months in Florida or Mexico, including a cruise lasting a few days; then they’ll return to Quebec for a month—just to go skiing and see family between Christmas and New Year’s Day, do a little work, take care of their affairs—and, oops, they’re off again for another two-month stay in Thailand to wrap up the winter. Trips are therefore more frequent, but stays are shorter.
People no longer need coverage for six consecutive months, but rather annual insurance coverage with shorter periods. But what is annual insurance? It’s insurance that lets you take as many trips as you want in a year, with a maximum number of days per trip. The coverage periods vary by insurer, but the most popular durations are generally 15, 30, 60, or even 90 days. Some insurers let you pay the premium monthly and even cover medical expenses not covered by RAMQ in Quebec at no additional cost to your policy.
Just like with trip-by-trip insurance, when purchasing your annual insurance, be sure to check that the coverage offered meets your needs. Do you travel by plane or by car? Are you traveling with pets?
In conclusion, I’d like to offer some advice to our frequent travelers. Don’t forget that the same rules apply to annual insurance. The stability period before departure must be observed. If your health or medication regimen changes, contact your broker before you leave to confirm your eligibility. Remember that every time you return to Quebec, your stability period starts over.
Please don’t hesitate to contact us. We’d be happy to answer your questions and help you find the insurance product that best suits your needs!
Julien Houle
President of MédicFlorid International
Translated by Deepl
