InsureMyTrip Reveals Top Canadian Travel Trends and Insurance Insights for 2024
Toronto, March 21, 2024 (GLOBE NEWSWIRE) -- Canadian travellers are seeking a mix of relaxation and exploration in 2024. InsureMyTrip Canada researchers looked at top destinations for those requesting travel insurance quotes so far this year – and found that the United States and Mexico are emerging as top international destinations for 2024.
Top 10 Destinations for Travellers Requesting Travel Insurance Quotes
Canada
United States
Mexico
Aruba
Italy
Dominican Republic
United Kingdom
Australia
France
India
For those Canadians planning a trip this year– there is some good news. Flight costs are trending in the right direction. According to Statistics Canada, in January 2024 airfare was down about 14% over January 2023, and 23.7% over December 2023. However, airfare remains about 10% higher than before the pandemic in 2019.
While the cost of flights doesn’t seem to be deterring travellers, it’s important to protect that financial investment. Here are three ways a travel insurance policy can act as a vital safeguard as prices remain high.
Medical Expenses
If you are travelling to another province, territory, or country this year, you may not be protected by your government health insurance. Having a travel insurance plan that includes emergency medical benefits can offer reimbursement for additional expenses in the event of a covered and unexpected injury or illness during the trip.
While emergency medical evacuation coverage may provide transportation assistance to the nearest appropriate care facility if the initial hospital can’t properly treat you.
MORE: Travel Medical Plans
Travel Delays, Cancellations, and/or Interruptions
These benefits can be part of an all-inclusive travel insurance policy, non-medical all-inclusive, or as a standalone trip cancellation/interruption plan.
Flight Delay - This benefit provides reimbursement for reasonable meals, and accommodation while you are unable to travel for a covered flight delay.
Trip Cancellation - A benefit that provides reimbursement for cancellation of a trip for an unforeseen, covered reason. Every policy is different and lists covered reasons for a cancellation within the policy.
Trip Interruption - This benefit can provide reimbursement of the unused portion of pre-paid, non-refundable trip costs if your travels are unexpectedly cut short.
MORE: All-Inclusive Travel Insurance
No Longer Want to Travel
With fluctuating economic conditions, you may decide it best to forego a holiday in 2024. However, you likely won’t get back the money you’ve already paid on a trip - if your reason for cancelling isn’t covered. That is, unless you have the “Cancel for Any Reason” (CFAR) benefit.
CFAR may either be an optional benefit or included in a plan if requirements are met. To be eligible for reimbursement under the CFAR benefit, you will be required to cancel your plans within a certain time period before departure.
If you follow all requirements, you may be reimbursed 50% of your insured, prepaid, non-refundable trip costs. CFAR requirements can differ by provider, so it’s important to read and understand a policy before purchasing.
MORE: Travel Insurance Coverage and Benefits
Reporters can request an interview or quote from InsureMyTrip CEO Suzanne Morrow by contacting Press@insuremytrip.ca.
Media Contact:
Meghan Kayata
Press@insuremytrip.ca
About InsureMyTrip
You like options. We do too. InsureMyTrip finds you the right travel insurance plan, every time. We are committed to empowering travellers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise. InsureMyTrip is based in the U.S. with offices in Toronto.
*Not available to Quebec residents.
