Study shows that travelers from Canada do not purchase coverage.
The results from recent research has shown that while Canadians are avid travelers – particularly abroad – they do not typically buy travel insurance to protect themselves while they are on their trips.
Six out of every ten Canadian travelers are not insured before leaving the country.
The survey, which was performed by BMO Insurance and which was entitled the Summer Travel Insurance Study, indicated that over 67 percent of Canadians had travelled within the last year to destinations in the United States or Canada, and over 43 percent of people from that country had gone overseas.
Equally, it indicated that only half of all travelers from that country know that once they leave Canada, they are mainly responsible for any medical costs that they incur before their return.
According to a BMO travel insurance spokesperson, Julie Barker-Merz, “It’s critical that Canadians ensure they have the proper medical coverage before travelling.” She went on to say that “While Canadians can sometimes be covered under the terms of their credit card or workplace healthcare plan, they need to be certain that the correct insurance is in place given the high cost of medical services that can be incurred while away from home.”
Without travel insurance, medical care costs out of the country can be overwhelming.
For instance, a traveler from Ontario who is visiting Florida could see a hospital bill as high as $20,000 (USD) due to a broken leg. It would cost an additional $15,000 (USD) for an air ambulance trip from the vacation destination back home again.
Barker-Merz explained that medical emergencies are not limited to an individual’s home country, but can occur at any time in any place. For this reason, she urges travelers to learn more about their own coverage so that they are not placing themselves at financial risk if they should meet misfortune.
Purchasing travel insurance was equated, by Barker-Merz, to making any other preventive arrangements before a trip. For example, cancelling a newspaper to prevent break-ins, or packing sunscreen to prevent sunburns. Buying proper coverage prevents financial disaster from occurring while on vacation.