Travel insurance rates double for older travellers
Travel insurance premiums have skyrocketed in recent months for those over 65, even doubling in some cases.
Travel Insurance News - 30/01/2012
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The news comes via a recent investigation by Money Mail, which showed that many High Street travel firms have raised prices for over-65s from around £163 to more than £360. Travel experts have since said that the trend could lead to older holidaymakers not taking out coverage, which can lead to disasters during breaks.
Age UK’s charity director, Michelle Mitchell, said that there were even concerns that some major insurance providers don’t want provide any cover whatsoever to elderly travellers. Similarly, Which? editor James Daley said that the increase comes despite many older travellers having better health than they had had in recent years, meaning the rise is difficult to justify.
The increase comes at a time when insurance providers continue to raise premiums and tighten up policies following heavy losses in the wake of political turbulence in North Africa and the Middle East, as well as volcanic ash disruptions and other natural disasters such as flooding in Thailand and earthquakes in Japan and New Zealand.
Experts say younger holidaymakers are also dealing with increases, although the increase is much smaller with an average rise of 9 per cent or less.
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