As you get older and the risk of illness or injury increases, getting travel insurance can become increasingly more difficult and more expensive.
Much the same as insurance for younger travellers, over 65 travel insurance protects against unforeseen circumstances, both prior to travelling and while away. What should you consider before you buy over 65 travel insurance cover? Check out the guide below.
The Price Of Insurance Will Increase With Age
As might be expected, the older you are, the more expensive insurance is likely to be. Travel insurance will typically be cheaper for a 40-year-old than a 65-year-old, while a 75-year-old will pay more still. This is especially the case for those searching for an annual policy which can provide them with year-round cover.
There are a few options for older travellers, however, including All Clear Travel and Age UK, both of whom do not stipulate an upper age limit for their policy holders. One aspect to check are any claim limits placed upon permanent disablement and also for accidental death. These will usually reduce with age.
Those with an existing condition will be better off finding a policy which includes medical conditions, as opposed to cover simply designed for over 65s. The reason for this is that insurance companies consider existing conditions to be a greater risk than a person’s age.
Buy Cover Immediately After Booking
As we get older, we are naturally more vulnerable to falling ill and are statistically more likely to have to cancel a trip. Therefore, it is essential that you arrange cover as soon as possible after booking a holiday.
Although it can be tempting to leave it, especially if the trip is not for a few months, doing so poses an unnecessary risk of something happening before you go, and insurance not being in place to cover the costs of cancellation.
Remember, Not All Policies Will Be The Same
Different policies vary in terms of what is included, so do a careful comparison of several policies before you decide on the right one for you. Carry out your own risk assessment for a more informed choice. For example, do you need more cover for personal belongings or for cash? Will you be participating in risky activities, such as winter sports? It’s important to ensure you have the correct cover for this.
Group Or Separate Cover?
If you are travelling as a group, you might consider taking out group insurance. However, this will always be based upon the oldest traveller, or those with medical conditions, so it can sometimes prove more cost-effective to organise individual cover.
However, do bear in mind if taking out individual cover, that if one of you did fall ill and was unable to fly home at the end of the trip, only that individual would be covered to stay on. A group policy would cover for everyone to stay on.
Check Out Single Trip Cover
Annual cover can prove extremely costly for the over 65s. Therefore, it can sometimes work out more cost effective to buy single trip cover each time you travel. However, if you are a frequent traveller and plan to make a number of trips over the course of a year, it is a good idea to compare single trip prices with that of an annual policy to work out which will work out as the cheapest option.
Free EHIC For Trips To Europe
The European Health Insurance Card (EHIC) entitles the holder to treatment in EU countries, as well as Switzerland, Liechtenstein, Norway and Iceland. There are some costs, however, which are excluded, as not every treatment is free or included on the card. This card should not be used in place of travel insurance, but alongside it. More information about the EHIC card can be found on the EHIC website.
Some bank accounts provide benefits like travel insurance. These types of accounts usually charge a monthly fee. If you do have travel insurance through your bank, check to see if the cover offered is appropriate for you and the type of trip you wish to take. This should not be confused with travel accident insurance, which is sometimes offered as an additional benefit for those paying for train or aeroplane tickets, or car hire.
Don’t Go Overboard
Just because one insurance policy is more expensive than another does not automatically mean it is the better policy for you. For example, upgrading policies to platinum levels to include things such as £10 million worth of medical cover is rarely worthwhile. It is highly unlikely that your medical bills would ever reach even close to this level before you could fly home.
Insurance offered by travel agents is rarely the most cost-effective option. In fact, a single trip policy could cost you as much as £250 more!
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