Last month, Shubenacadie Sam predicted that Canada would see six more weeks of winter, and it appears as though his gloomy forecast has materialized. As a result, a majority of Canadians are seeking to escape the freezing temperatures and icy conditions.
In fact, a full 74% of residents plan on traveling for leisure between the months of March and May, according to a new study conducted by BMO Insurance.
These travelers are budgeting $1,800 on average for their trips.
The study also found that most Canadians are seeking additional coverage for their upcoming vacations. 62% of respondents purchase supplemental medical insurance when traveling, which is fortunate since one-third of tourists end up requiring medical attention on vacation.
Quebecers are the most likely to purchase travel medical policies, with 74% of the population seeking protection. The Atlantic region, on the other hand, is the least likely to do so, with only 51% of travelers seeking coverage.
Brokers can recommend travel medical plans with confidence, as the study also found that 76% of Canadians who filed a claim found the compensation process “easy.” Within that group, 74% were reimbursed fully and 26% received partial reimbursement, but no claims were rejected outright.
"Canadians should have confidence that the vast majority of claims do get paid," said Rocco Casullo, Head, Direct to Consumer Insurance, BMO Insurance.
