Only 36% of those who are planning to take a trip say they'll buy both medical and cancellation travel insurance.
It’s time to “bring the fun back,” at least when it comes to travel.
A new TD Insurance survey says two-thirds or 65% of Canadians plan to travel for pleasure this year.
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The poll also says of those, three in ten or 28% plan to visit a new destination, a quarter or 25% plan to travel with friends while 23% with family or children.
Another 14% are planning to travel solo and 17% said they’ll go anywhere as they just want to “bring the fun back!”
The survey says Canadians under the age of 35, and high-income households ($100k or more annually) are most likely to say that they are very likely to travel for pleasure in the next year.
Still, only 36% of those who are planning to take a trip in the next year say they’ll buy both medical and cancellation travel insurance.
Just over half or 54% say they have the financial means to cover out-of-pocket expenses while three in ten or 31% say they wouldn’t be able to cover expenses above $300 should something unexpected happen.
The online survey of 1522 Canadians was conducted between Nov. 18-20, 2022, using Leger’s online panel with a margin of error of ±2.5%, 19 times out of 20.