Most Canadians don’t buy travel insurance: survey
Posted July 5, 2012 7:04 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Do you buy travel insurance when you cross the border?
A new survey from the Bank of Montreal suggests nearly six in ten Canadians don’t. Julie Barker-Merz with BMO says that could cost you big-time if you get hurt in the States.
“Nine in 10 of Canadians that we surveyed have under-estimated the cost. They think for a broken leg, it might cost them a couple thousand dollars. It’s $20,000, out of pocket!” she tells us.
“In some cases, you can have claims in the hundreds of thousands of dollars. People have lost their houses over things like this,” she adds.
Forty per cent of respondents to the survey say they, or someone they were travelling with, have needed medical attention while on vacation.
Barker-Merz says most people refuse to buy travel insurance because they don’t think anything bad will happen to them while they’re away.
