As you get older you may find it increasingly difficult to find reasonably-priced cover for your trip.
Travel insurance is essential for anyone going on holiday.
But once you hit 50, purchasing cover can start to get noticeably more expensive and harder to find.
However, there are a number of specialist over-50s insurers out there offering tailored cover.
So how do costs compare and when is a specialist policy worth going for over one from a general insurer?
Why older people struggle to get travel cover
Securing affordable travel insurance becomes much more difficult as you get older.
That’s because over 50s are statistically more likely to fall ill while abroad compared to younger travellers.
This age group is also more likely to suffer from poor health and have one or more pre-existing medical condition like diabetes, heart-related problems or circulatory issues.
These two factors make older travellers look riskier to insurers, which consequently leads to higher premiums.
On top of inflated prices, those over 65 also have to battle with age caps on policies, which can mean they are turned away by standard providers even if they’re perfectly fit and healthy.
Specialist travel insurance for over 50s
Specialist cover for over 50s can be found with a number of providers that can be tailored to your age and health.
Saga, for example, offers policies with no upper age limit and will cover a wide range of pre-existing medical conditions. It also provides automatic cover for over 40 leisure activities with optional protection for winter sports.
Similarly, Age Co (formerly Age UK) also has no barrier on age and offers cover for pre-existing conditions wherever possible. It also comes with free cover for children under 18 and provides special discounts for groups of ten or more adults travelling in the UK
Avanti Travel Insurance also provides policies with no upper age limit and will cover for pre-existing conditions including cancer, heart disease and diabetes. It claims to insure a large number of conditions free of charge. With a policy from Avanti you can also insure children and grandchildren under 18 years old for free.
AllClear is another place to turn. It claims to cover all ages, medical conditions and destinations. Indeed it says it will cover medical problems like diabetes, angina, arthritis, asthma, cancer, heart conditions, high blood pressure, high cholesterol, epilepsy and stroke.
Is specialist insurance worth going for?
Specialist insurance won't be for everybody but it's worth comparing it with standard policies to see if you can get a better deal.
Note that specialist cruise insurance often doesn't have an upper age limit.
The key as with any insurance is to tell the truth and make sure you are not under-insured.
Lying or omitting the truth is known as ‘non-disclosure’. If your insurer finds out it may turn down a claim later and invalidate your policy. ,Likewise if you don’t get enough medical protection on your policy, things like your hospital bills, which can be steep in other countries, may not be fully covered.
So it’s vital to either check the small print or tailor a policy for your age and health otherwise you might face a huge financial shock.
How to cut the cost of travel insurance
Here are some tips on how to minimise the cost of travel insurance and make sure you’re protected.
Shop around for cover: make sure you check what you can get with a comparison site like loveMONEY as well as specialist sites to ensure you are getting the right cover at the best price for your needs.
Check if you are already covered: you should double check your existing policies to avoid paying for things you are already covered for. Your home insurance policy might already have cover for your valuables for example, as might a packaged bank account.
Consider an annual multi-trip policy: if you’re going away at least twice in a year consider an annual policy instead of single trip cover as it will probably work out cheaper. But if your health changes make sure you consult your insurer before you travel to ensure you’re still covered.
Go for a Europe-only policy: if you aren’t planning to go any further than Europe you should opt for a Europe-only policy as they’re much cheaper than worldwide policies. Or at least get a worldwide policy that excludes the US, Canada and the Caribbean, which are far more expensive.
Other tips for holidaymakers
No matter your age, it’s a good idea to get an EHIC card, which allows you to be treated free or at a discount if you have an accident or suffer a sudden illness in Europe.
However, it’s not a replacement for travel insurance as things like baggage, cancelled flights and repatriation are not included.
Also, it’s a good idea to book your travel insurance at the same time you book your flights and accommodation. This way you can get cover for cancellation and other problems that occur before you leave (using your credit card can also help).
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