A study released by the Bank of Montreal (BMO) on March 24 examines why and how Canadians use travel insurance.

The report shows that 74% of Canadians intend to go on holiday sometime this spring. It also asked them about what they worry about while on vacation: 50% said they fret about experiencing bad weather, 41% were concerned about needing medical attention while abroad and 32% were worried about being the victim of a crime.

Although 62% of those surveyed said they buy extra medical insurance when they travel, 32% rarely do so. Asked why not, 53% said they had other sources of insurance coverage, for example through their group plans or their credit cards.

The study also revealed that 36% of Canadians do end up requiring medical attention while they are on vacation, and that many have had to file a claim when they returned home in order to recover out-of-pocket expenses. Among those with travel insurance, 76% described the claims process as “easy” and none of those surveyed had their claims rejected; BMO says that 74% of those who had filed claims received the full balance of what was owed and 26% were partially reimbursed.