TORONTO, ONTARIO — (Marketwire) — 03/12/13 — With March Break upon us and thousands of Canadians heading to the slopes or beaches, BMO Insurance reminds travelers to make sure they have travel medical insurance before leaving home. According to a BMO study, one-quarter of Canadian travelers have needed medical attention while travelling, but only 41 per cent purchase travel medical insurance on a regular basis.
“Checking to see whether you have the right travel medical insurance should be one of the first things you cross off your list before you pack,” said Julie Barker-Merz, Vice-President and Chief Operating Officer, BMO Insurance. “Whether it-s a broken leg or the stomach flu, health issues can arise while on holiday. Canadians should secure themselves with the right kind of insurance.”
Highlights of the study include:
When asked about the specific costs associated with medical treatment while abroad, the study found that the majority of Canadians do not realize how much money is at stake. As well, only 50 per cent of Canadians correctly identified that, for those travelling without medical insurance, they themselves are primarily responsible for covering their medical expenses.
According to the U.S. Government-s Agency for Healthcare Research and Quality, the average cost per hospital stay in the U.S. for adults ages 45-84 was over $12,000 in 2010.
“A medical emergency can turn into an unfortunate financial situation given the high cost of medical services that can be incurred while away, including medical consultations, ambulances, hospital stays or emergency air transport,” said Ms. Barker-Merz. “Before you head out, be sure to check with your insurance provider to ensure you will be covered adequately. That way you can rest easy and enjoy your vacation.”
BMO offers insights on what Canadians should consider when selecting a travel insurance policy:
The online survey was conducted by Pollara with a random sample of 1,000 Canadians 18 years of age and over, between June 14-18, 2012.
For more information on BMO Travel Insurance: .
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Contacts:
Media contacts:
Rachael McKay, Toronto
416-867-3996
Valerie Doucet, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596