Why don't people buy insurance? 

Why don't Canadians buy insurance? According to the survey, one-third of Canadians who will not purchase insurance for their next trip believe that travel insurance is too expensive.

This is the case for 33% of those who will not purchase travel medical insurance and 35% of those who will not purchase trip cancellation coverage.

Among those likely to travel in the next year, young Canadians aged 18 to 34 appear to be the least willing to purchase travel insurance.

Three in ten (29%) Canadians aged 18 to 34 simply do not think it is necessary to purchase travel insurance.

Only 27% of this age group say they intend to purchase travel medical insurance and trip cancellation coverage (compared to 39% of Canadians over 35).

In addition to health concerns, travelers now face geopolitical upheaval, high inflation and economic uncertainties across the board.

Medical costs or expenses incurred as a result of trip cancellations or interruptions may far exceed the cost of travel insurance.

The desire to travel again has translated into crowded departure lounges and resorts in 2022. But the pandemic has permanently changed travelers' needs and expectations

Source Pax News

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