Here are a few tips for finding more affordable travel insurance for older travellers.
When being an older traveller there are many advantages such as a reduced price to the access of many sights and attractions in Europe. However, there are many disadvantages as well. Travel Insurance, for example, can be significantly higher for the older people. It doesn’t just affect people over 50, it affects people over 40 and once you reach 65, some companies won’t even insure you! Even if they did premiums they are more likely to double and will continue to increase as you grow older.
Older travellers, being wiser and more experienced, are less likely to end up in hospital after doing something silly, however, if an insurer was told this, they would disagree. Their response would be that the higher premiums reflect an increased risk of other types of medical claims, these are the most expensive to settle. They also say older people are more likely to become ill, are prone to falling over and will most likely stay in hospital for a longer period of time resulting in being more expensive to treat. Insures ignore the fact that most age mature travellers are much fitter than most younger travellers. The only thing insures look at are the averages, and they like to make sure they always win. If you are fit and healthy, they aren’t going to offer you a discount for it. But if you have a health condition there is a good chance that they will charge you even more, and most likely include an exclusion for treatment which is related to that condition.
1. Find a specialist insurer Columbus Direct (0800 068 0060): up to (age) 85 for single trip, 74 for annual multi-trip cover no upper age limit for single trip/ P J Hayman (02392 419 070): no upper age limit on single trip Travel Plus “standard cover”; 79 years for annual cover / Travel Insurance 4 Medical (03459 080121): up to 100 years for single trip; 75 years for annual policy / World First (03459 080161): up to 100 on single trip policies; 79 on annual / All Clear Travel Insurance (01708 339295): no age limit
2. Buy a multi-trip policy
If you travel more than once a year, it will be cheaper to take an annual multi-trip policy, this will ensure you are covered for your yearly travel. However, upper age limits for this type of policy are usually significantly lower than for insurance that covers single trips.
3. Cut cover
Policies are now flexible: you can remove some cover: lost or stolen baggage for example – and reduce premiums.
4. Declare health problems
If you don’t do this, your claim could be refused and you may be left without cover at all.
5. Check activities
If you like to keep active on holiday, check through which activities are included/excluded or, again, you might be left with no cover and an expensive hospital bill.