The Canadian dollar's decline and rising U.S. costs have led to 15%+ travel insurance premium hikes. To reduce costs without sacrificing coverage quality, consider shopping for policies tailored to your medical history, multi-trip plans, Canadian-only coverage, and appropriate deductibles. Be cautious of bundled extras and age-related rate changes. Consumers face risks of claim denials due to ambiguous underwriting and must carefully review policy terms to avoid voided coverage.