Older People Should Shop Around for Travel Insurance

Posted: 11th April 2014 08:54

By Webb Ward
As you age certain insurance bills might fall, such as car insurance and home insurance.  But not travel insurance.  The older you are the more expensive it gets.  However, it is possible to get good deals on travel insurance for seniors.  The secret is to shop around.
Search for best deals
Use the internet to find the best travel insurance deals.  A good place to start could be a comparison site like Money Supermarket.  Whatever you do don't simply take insurance offered by your tour operator.  It probably will not be the cheapest and it might not be the best either.  Some travel insurance providers will not provide cover for people over a certain age.  Some also will not provide cover for already existing medical conditions.  But you cannot do without it.  Travel insurance is essential for holidays or trips abroad and the costs of not having it can be horrendous.  In America the cost of treatment for pneumonia can reach £30,000.  Even a straightforward case of bronchitis can be £4,000.  A heart attack and bypass can cost £50,000 and that is just for the medical treatment.  It does not cover the cost of returning from the USA.
Emergency Help For Less
Most travel insurance claims for older people are for medical emergencies.  If you are travelling in Europe, apply for an EHIC (European Health Insurance Card).  This will mean you will be able to get emergency medical help at a much lower cost.  In some cases it will be free.  It is important to have it but you will still need adequate travel insurance.  The EHIC does not cover emergency flights home or private healthcare.
Declare Existing Conditions
Decide whether you want multi-trip or single trip cover.  If you are travelling overseas more than twice in one year it normally is sensible to buy a multi-trip – or annual – travel insurance policy.  Do declare existing medical conditions when applying for travel insurance.  Pre-existing conditions can be respiratory problems, heart conditions and such things as stroke and hypertension.  Also report any hospital treatment that you have had in the past year.  The insurer might class that as a pre-existing condition.  It is vital that you tell the truth on your insurance application.  If you do not there is the risk that the policy is void when a claim is made.  There are insurers that offer customised packages for older people.  Internet is full of resources and insurers offering different packages.  For example, check out travel insurance from Age UK to get a sense of the market and what you can expect to see. 
Check Existing Policies
Buy travel insurance as a couple.  Insurance will be cheaper if it covers both you and your spouse, or a partner who lives with you in a family unit.  And check your existing insurance policies.  If your home contents insurance covers personal possessions away from home you can save money by cutting personal possessions cover from the travel insurance.  That could save up to 10 per cent.
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