A recent survey by the Travel Health Insurance Association of Canada (THIA) confirms that 13% of Canadian travellers are unsure whether they have travel insurance when it comes to leaving for a stay abroad. This is not ignorance of their shares, but potentially since the majority still believes that their provincial or private insurance covers them during their stays outside of their province. THIA also found that 17% of travellers do not know what is covered and not covered by their travel insurance. This is simply because we are not going to read our documents, or that it is too confusing for some of us. I prefer to side with consumers in this case, because the industry would have to take some blame. It needs to be easier for consumers. Simplifying the policy wording, or clearly indicating the coverage included and excluded, and simplifying language in easy-to-understand terms.
Being an eternal optimist, there is promise! Let's look at the other side of the coin: If 13% do not know if they have travel insurance, this also means that 87% know what they have, which is a more optimistic figure. Same for the 17% who do not know what is covered, this means that 83% know it.
According to THIA, 19% of Canadians admitted to intentionally providing false information about their medical situations when they applied for travel insurance. In the majority of cases, they intentionally omitted to declare something in order to save a few dollars on their premium.
Do you think this game is worth it? It's like playing Russian roulette with your financial situation. If nothing happens… well done…you got away with it, without any consequences. But if, by an unfortunate circumstance, food poisoning, bad flu, sudden heart palpitations, severe headaches, or symptoms or pain becomes unbearable or you need to consult and that your insurer's assistance would be highly comforting, will you still want to play this game?
There are many ways to save on our travel insurance, I invite you to read my blog on How to protect yourself and save at the same time on our travel insurance. Some offer deposit options for your travel insurance, allowing you to plan and budget in advance for your insurance. Payment flexibility that will help you protect yourself, without hassle, and without having to cut corners to feel like you're saving falsely.