Comprehensive package insurance includes the loss of baggage and sporting equipment, delay (which is more common), and the loss of personal effects up to the sum insured.
Regardless of having baggage insurance or not, we do not recommend taking valuables with you on a trip. Leave them at home unless they are completely necessary. This includes expensive or cherished jewellery, watches, or other possessions. Mitigate your risk of inconvenience by “cross packing” with other companions so if one bag is lost, it is less inconvenient while you wait. Place the most valuable and breakable items in your carry-on, especially prescription drugs. A lightweight change of clothes is always a good idea in a carry on.
That said, baggage delays can happen, and comprehensive insurance covers a daily limit so that you can purchase essentials in the meantime, and starts at 10 hours past expected delivery. You need to have a valid lost luggage claim open with the airlines.
If your passport is lost or stolen while on vacation, this can be a real disruption in time and money, as Canada’s consular services may be in a completely different city where you may incur travel expenses.
If you experience a theft, you must file a police report and make a claim right away. Obviously claims will not be paid for neglect or normal wear and tear or depreciated value. Aside from the limitation of the overall $1,000 sum insured, there is a cap of $300 per item. You are able to purchase a rider for additional coverage for cell phones, laptops, and golf clubs.
There are limits of coverage and exclusion for baggage loss, delay, and personal effects that are best reviewed by reading the policy. Our experience is that many people overlook coverage in this area and fail to claim things for which they would otherwise be eligible.
This kind of insurance is seldom sold on its own, although it is available for sale. It is normally covered by purchasing the Concierge Club or Standard Package insurance in some form (full, zero-prior, or non-medical).