Travel Insurance

Posted by: Innocent Bystander on 07 October 2018

A sister to the home insurance thread...

This year my renewal quote from Liverpool Victoria for annual multi-trip travel insurance has jumped by 51%. No claims in the year, no more medical conditions to add, and Iím the oldest on it, just past 64th birthday - not a common Ďmajorí one, and next oldest is 50. 

Going to a comparison website, the cheapest for comparable cover was significantly more expensive, from a company Iíd never heard of (Good to go), and the next cheapest quite a bit more. Playing with options I couldnít find anything cheaper without a substantial and I feel unacceptable reduction in cover. 

Is anyone else aware of major hikes in travel insurance this year, and who do you find the best (For UK based traveller)?

Posted on: 08 October 2018 by Pev

I use Alpha travel insurance - never made a claim. They are very reasonable for a pre existing medical condition and they allow you to ride a motorcycle if you have a license for it whereas most don't. I have used Direct Line in the past for similar reasons but like all insurance policies, you need to shop around every year.

Posted on: 08 October 2018 by Jonners
Innocent Bystander posted:

A sister to the home insurance thread...

This year my renewal quote from Liverpool Victoria for annual multi-trip travel insurance has jumped by 51%. No claims in the year, no more medical conditions to add, and Iím the oldest on it, just past 64th birthday - not a common Ďmajorí one, and next oldest is 50. 

Going to a comparison website, the cheapest for comparable cover was significantly more expensive, from a company Iíd never heard of (Good to go), and the next cheapest quite a bit more. Playing with options I couldnít find anything cheaper without a substantial and I feel unacceptable reduction in cover. 

Is anyone else aware of major hikes in travel insurance this year, and who do you find the best (For UK based traveller)?

I don't know whether this is a solution for you or not but I opened a Nationwide bank account specifically for this purpose. I pay £13 a month which includes worldwide family travel and mobile phone insurance too. It never goes up and never needs ro be renewed. I had to use it last year when taken ill in the US and it worked a charm.

Posted on: 08 October 2018 by Innocent Bystander

Funnily enough I looked  into one of those at the weekend, with a different bank (i canít open a Nationwide account where I live):  £18 per month initially seemed not unreasonable compared to renewal quote (not so compared to last year).  But that is without any pre-existing medical conditions, the cist of which I can only discover by phoning them so no idea yet. I also found they have some niggling requirements that could be a risk, like  effectively having to tell them of any new medication prescribed since last update to them, prior to booking any trip, rather than just an annual update which is more normal for medication (as opposed to significant medical diagnoses).

But banks as an account bonus may indeed be ian area worth looking into more.

 

Posted on: 08 October 2018 by Jonners
Innocent Bystander posted:

Funnily enough I looked  into one of those at the weekend, with a different bank (i canít open a Nationwide account where I live):  £18 per month initially seemed not unreasonable compared to renewal quote (not so compared to last year).  But that is without any pre-existing medical conditions, the cist of which I can only discover by phoning them so no idea yet. I also found they have some niggling requirements that could be a risk, like  effectively having to tell them of any new medication prescribed since last update to them, prior to booking any trip, rather than just an annual update which is more normal for medication (as opposed to significant medical diagnoses).

But banks as an account bonus may indeed be ian area worth looking into more.

 

Yes, that would complicate matters. I'm hardly anyone to give advice on such matters but I can recommend going to Martin Lewis' website, moneysavingexpert.com. There's a whole section on Travel Insurance with links to a bunch of broker and comparison sites which are probably worth looking into if you fancy a bit of a project. My gut feeling is you won't be successful with the packaged bank accounts - the cover they provide is aimed at people without pre-existing medical conditions which is how they can include it in the price. Still might be worth considering anyway for the mobile phone and breakdown cover alone, even if you can't make use of the travel insurance.

Posted on: 08 October 2018 by Don Atkinson

I've been getting annual travel cover for over 10 years with the same company and via the same broker. It covers some of those "risk" activities such as skiing, rock climbing and flying private aeroplanes. The premium had remained constant for 9 years but this year went up by about 12.5%. No new medical conditions - but this time they wanted a list of intended travel activities for the year ahead and a requirement to notify new medical conditions/prescriptions as and when they arise (if any). Didn't require notification of changes to travel arrangements.

Seems as if insurers are getting a bit more cautious about annual insurance.

Posted on: 08 October 2018 by Rich 1

MSE site well worth a look at as Jonners said. I should add that as far as Nationwide (you can open up an on-line account if you're in the UK) linked insurance is concerned, age and preexisting conditions are no barrier so long as you let them know. Over 70 something you pay a small surcharge, most pre existing conditions are covered at no extra cost, others will have a surcharge. That £13 also covers car breakdown. Rich 

Posted on: 08 October 2018 by Innocent Bystander

MSE was where I first went to compare, but and the cheapest higher than my renewal, despite the latterís 51% hike. I just donít understand why the hike, in a year with no known trigger from my end.

The banking angle seems one to explore further, though the hasdle of having to contact them for quotes to cover pre-existing conditions makes it less quick and easy. Out of interest I Ďve looked at the Nationawide policy, finding the same sort of position as the bank I had looked at,, except it does at least exempt prescribed medication for colds, flu, HRT and contraception. While looking I noted that it doesnít cover bancruptcy  of the holiday provider, which may be important for anyone who canít/doesnít always use a bonded provider, though it is possible that paying by credit card covers tgat.

Posted on: 08 October 2018 by Pev

I did look at the bank acount linked options but the exclusions made it worthless to me - it may be better now but as ever with insurance you really need to check the small print before you commit.

Posted on: 08 October 2018 by Allan Milne

 

I have RBS travel insurance through my bank account but previously I found the Post Office very competitive.

Allan

 

Posted on: 08 October 2018 by Innocent Bystander

Hmm, Post Office was in the MoneySupermarket comparison list, ant twice the price of LV fir similar cover...   It seems that LV remains competitive, but just a big increase for no apparent reason. Maybe thereís a travel equivalent to the number of bathrooms, that being a change someone in the Home Insurance thread mentioned having been told was a new consideration that increased premiums.