Many people plan to travel without coverage
A survey found that a third of those travelling in the next 12 months don't plan to buy travel insurance – with many more underinsured
Almost seven in 10 (68% of) Canadians are planning to travel for pleasure in the next year – however, a third of those travelling do not plan to purchase insurance for their next trip, according to a new survey commissioned by TD Insurance.
The survey, conducted on behalf of the Canadian insurer by Maru Public Opinion, also found that of those planning to travel, only a third (32%) were planning to purchase both emergency travel medical and trip disruption or cancellation coverage.
This is despite 40% of those planning to travel saying that they did not have the financial means to cover out-of-pocket costs. One in seven (15%) could only cover up to CA$300 of out-of-pocket expenses, while a quarter (25%) would not be able to manage any unanticipated expenses without assistance.
The study surveyed 1,520 randomly selected Canadian adults on 29–30 July 2024, with the sample size weighted to match the general population.
Travel difficulties are common – and costs are often high
This is also in spite of the high proportion of Canadians who have experienced incidents while abroad. According to TD Insurance, 53% of Generation Z respondents and 38% of Millennials have experienced a disrupted trip or had to deal with a serious injury that required medical attention. Furthermore, almost a third (32%) of those Canadians surveyed who experienced these disruptions incurred expenses of over $2,600.
“It’s easy to understand why skipping travel insurance is tempting for those looking to find ways to cut costs, but that could pose risks,” said Annie Campoli, Vice President, Distribution, Life and Health, at TD Insurance. “If you have the right policy in place to meet your needs, travel insurance can help financially should the unforeseen happen – from emergency medical bills to expenses like travel interruptions and cancellations due to an unexpected event that’s covered by your policy.”
Another recent survey by World Nomads found that 40% of travellers have experienced medical issues while travelling abroad.
Oliver Cuenca
Oliver Cuenca is a Junior Editor for Voyageur Group, joining in 2021. He writes for both ITIJ and AirMed&Rescue, covering a range of topics including international travel and health insurance, medical assistance provision and air medical transportation. He also serves as Title Editor of the Assistance & Repatriation Reviews. Oliver holds an MA in Magazine Journalism from Cardiff University, as well as a BA in English with Creative Writing from Falmouth University.