U.S. bargain-hunting could be costly without travel insurance
Daily U.S. hospital stay can add up to $10,000
TORONTO, November 15, 2007 — With the rising
dollar, some Canadians will be heading south this American
Thanksgiving weekend looking for deals as the holiday shopping
season begins— but that cross-border trip could end up costing
more than planned if medical treatment is needed while away
from home.
RBC Insurance is reminding Canadians to think about travel
insurance, even for last-minute, short getaways across the
border.
"Unfortunately, accidents can happen at any time, so
don't let a shopping trip end up costing you more than you
bargained for," said Stan Seggie, president and CEO of
the travel insurance division of RBC Insurance. "For
less than $25, you can purchase travel insurance for up to
four days, to protect against unexpected emergencies that
may happen when you go across the border," added Seggie.
A national survey conducted by RBC Insurance/Ipsos Reid earlier
this year, showed that 37 per cent of Canadian leisure travellers
to the U.S. never purchase travel insurance. Unlike longer
overseas trips that are usually planned months in advance,
short cross-border trips can be more easily organized at the
last minute, and with a sense of familiarity about destinations
within North America, some travellers don't think they need
insurance.
A medical emergency in the U.S. is extremely expensive, especially
when compared to the relatively low cost of travel insurance.
For example, an appendectomy without complications costs an
average of $20,331 (USD), and a major cardiovascular procedure
without complications costs an average of $47,114 (USD), according
to the U.S. Agency for Healthcare Research and Quality.
Although insurance premiums are based on a variety of factors
such as age and health, as well as the length and value of
the trip, the emergency medical insurance coverage included
in the RBC Insurance Classic Medical plan, for example, typically
costs less than $25 for a one to four day trip. Another option,
for those who travel several times a year, is multi-trip annual
travel insurance that provides coverage for multiple trips
within a 12-month period, which typically costs about $50.
About RBC Insurance
RBC Insurance, through its operating entities, including RBC
Insurance Company of Canada, Assured Assistance Inc., and
The Liberty Marketing Corporation, provides a wide range of
travel, life, health, home, auto and reinsurance products
as well as creditor insurance services to more than five million
North American customers. The company is the leading provider
of travel insurance and emergency assistance services in Canada
and has also expanded into the U.S. travel insurance market.
Its travel insurance operations draw on more than 40 years
of professional experience and provide a wide range of products
and services through a network of over 4,000 travel agencies,
as well as over the Internet and through bank channels, to
more than three million individual and corporate customers
annually.
RBC offers a wide range of travel insurance
products. For more information when making travel arrangements,
ask a travel agent about RBC Insurance, go online to www.rbcroyalbank.com/travel,
call
1-800-565-3129, or visit a local RBC branch. For more information
on the RBC Insurance Ipsos Reid poll, visit www.ipsos.ca.
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Media Contacts:
Kerry Gaetano
RBC Insurance
Phone: 905-816-5583
Email : kerry.gaetano@rbc.com
Margie McNeil
RBC Insurance
Phone: 905-606-1425
Email : margie.mcneil@rbc.com
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