“Many Canadians” risk travelling uninsured: American Express

Many Canadians are willing to risk travelling without insurance, often because they find the products confusing, notes new survey results from American Express Canada.

About a third of the 1000 Canadians polled in July have never purchased travel insurance, American Express reports in a statement. That percentage is even higher among Canadians between the ages of 18 and 34, at 42%, the survey adds.

While more than half of those surveyed are planning to travel within the next six months, only 59% will purchase travel insurance before their departures. Buying travel insurance is not seen as big a priority as researching things to do when travellers reach their destinations, survey results suggest.

Despite not having insurance, some respondents admit to taking certain risks while abroad, such as driving a motorcycle without a helmet. One in 10 surveyed individuals has visited countries with known travel warnings, while 15% have travelled off resort when it is not advised. Another 14% of respondents have also travelled to remote locations away from medical assistance.

Many Canadians likely do not realize that their provincial health care may not cover all medical expenses abroad, American Express points out.

Other issues include too much jargon, with 66% responding they are unsure what coverage will be included and 72% unsure whether they are getting a good deal. It is also difficult to compare products, with 65% citing that as a deterrent to buying insurance.

American Express also argues that many travellers are naïve about costs involved with an accident abroad. Only 2% would be willing and able to pay $10,000 or more out-of-pocket for medical expenses while travelling. That would likely not cover even basic accident costs in many parts of the world, American Express suggests.