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Five Mind Numbing Facts About Travel Insurance

Posted Jan 24th, 2018 in ADVICE, TRENDING

Five Mind Numbing Facts About Travel Insurance, SnapQuote Insurance

Planning that Euro Adventure? Or your summer travels? Well, we’re here to share with you some mind-numbing facts about travel insurance – because it’s that important, you’ll thank us later.

When it comes to travel insurance, most don’t know if it’s worth it or not. We’re not here to say either way, but we thought we would provide you with some helpful facts that might make your decision easier.

Boring but helpful travel insurance facts

  1. According to The Conference Board of Canada, more than 40% of Canadian travellers aged 18-34 don’t get travel insurance. 
  2. Travel insurance covers a variety of things from trip cancellation, if you miss your connection or flight is cancelled, if a hurricane damages the destination, lost baggage to if you get sick or injured.
  3. Medical bills in other countries can become a major financial burden and your Ontario health plan only covers a portion of healthcare expenses outside Canada.
  4. Some credit cards offer travel insurance – read the fine print so you know what exactly it would cover.
  5. According to Consumer Reports’, “Travel insurance generally costs 5 percent to 10 percent of your prepaid non-refundable costs.”

14.9% feel their trip is too short to get travel insurance

It’s true, the length of your trip doesn’t mean you are safer or less likely to experience an accident or injury, however, it does increase the probability in some way. Also, illness and accidents are just a few of the common reasons you could be facing out-of-pocket expenses when travelling.

Hopefully these facts will help you decide if it’s worth it for you to get travel insurance.


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