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Cost of travel insurance will double for some OAPs

February 3, 2012 By Katrina Campbell Leave a Comment
Four Retired Age People On Vacation Portugal The Algarve

The cost of travel insurance could double for some over 65’s in 2012 new research suggests. An investigation by Money Mail has discovered that the price travel insurance for an OAP could be set to rise from £163 to as much as £361 for annual cover this year.

Younger travellers are also noticing an increase in the cost of travel insurance policies, however the rise is expected to be in the region of less than 9% which is significantly less than the 121% increase effecting the cost of cover for some OAPs.

The hike in the price of travel insurance for older people has caused concern amongst charities and consumer groups who fear that elderly travellers may be priced out of the insurance market which could lead these people to travelling without any type of cover.

The rising cost of travel insurance may push over 65’s towards taking out the cheapest possible option for insurance, however this could leave them open to problems if the policy doesn’t offer adequate cover for their needs. In some cases, experts believe that the sudden hike in holiday insurance premiums will deter older people from travelling abroad altogether.

In their defence, insurance companies say the premium cost reflects the increasing claims experienced for specific groups and that the price of travel insurance takes into account each travellers risk factor, which in many cases, means older travellers are placed in a high risk category due to the increased risk of health problems.

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Brits travelling without insurance wrongly think Government will pay bills

October 11, 2011 By Paul Roberts Leave a Comment
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British holidaymakers who travel without insurance wrongly think the government will pick up their medical bills should they require treatment while abroad.

A recent survey by ABTA found that 20% of British people are venturing oversees without any kind of travel insurance, with many mistakenly believing that the UK government will assist them with any medical bills and repatriation costs should they encounter a problem while abroad, which is simply not the case.

The average cost of a claim for medical bill for UK travellers abroad is £1,333, with the most common reason for seeking medical attention while on holiday being attributed to ear infections.

The research also revealed that 17% of travellers believe that carrying a European Health Card provides adequate cover for travel throughout Europe without realising that the card only allows access to basic state health care and does not cover repatriation to the UK should you need to be airlifted home in the event of a serious health issue.

The biggest problem amongst British holidaymakers appears to stem from inaccurate information, and so the travel industry needs to ensure all travellers are fully aware of the consequences of travelling abroad without insurance as the knock on effects, should you be unlucky enough to encounter while overseas, can be far reaching and extremely costly.

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Half of holidaymakers now purchase travel insurance over the internet

March 15, 2011 By Fiona Clarke Leave a Comment
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Over half of all holidaymakers questioned as part of a survey conducted by World First Travel Insurance were found to have bought their travel cover over the internet.

The travel insurance specialists at World First had noted a sharp increase in the number of insurance policies they were selling online, and so decided to conduct a survey to see if this trend was peculiar to their company, or to the travel industry as a whole. The study was conducted on behalf of World First by independent research company, PFA Research.

The poll questioned 600 holidaymakers all of whom were previous customers of World First Travel Insurance and found that 63% of those who took part in the survey said they tended to look for, and buy, travel insurance over the internet.

Out of those questioned as part of the survey, 51% said they would buy their travel cover direct from their chosen insurance provider online, while just 12% said they used a travel insurance price comparison website. After online travel insurance policies, the second most popular method of buying holiday cover is via the telephone.

Do you always buy your travel insurance online? Would you always go direct to your chosen insurance provider, or shop around using an insurance price comparison website? Let us know your thoughts on the survey findings.

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New travel insurance cover launched by AXA

January 18, 2011 By Samantha Lewis Leave a Comment
AXA-life-Logo

AXA Insurance has launched a new direct insurance policy which will offer comprehensive flexible cover for Brits planning their summer break.

The leading insurance company believes that British holidaymakers are at real risk of travelling abroad without adequate insurance, with AXA estimating that as many as nine out of ten travellers may be heading abroad with inadequate insurance cover, or worse, no cover at all.

It’s estimated that 7 million UK holidaymakers will book their summer holidays over the coming month, and so AXA have chosen to launch their new travel insurance policy now to coincide with the busiest time of the year for holiday bookings.

AXA believe that a combination of consumer ignorance, and the inability of the insurance industry to offer relevant products has led to the problem of holidaymakers travelling to foreign destinations without adequate travel insurance.

According to a poll run by AXA, 19% holidaymakers now say they are more likely to consider travel insurance. High profile incidents such as the ash cloud problem, swine flu, and airline strikes have promoted travel insurance to become a priority for travellers, something which the insurance industry welcomes.

The new travel insurance policy from AXA is only available directly through the company, and offers 3 levels of cover from single trips, to annual multi-trips, plus individual age and health rated cover, and also the added bonus of new travel disruption insurance. Please visit AXA for more information on their new travel insurance cover.

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Failing to take out travel insurance could be a false economy

January 17, 2011 By Katrina Campbell Leave a Comment
family-on-holiday

According to a recent survey, a high number of Brits are ditching the sunny summer holiday abroad in favour of a staycation as the budget cuts have left people with less money to splash on holidays. However a large proportion of those who are venturing aboard say they are considering cutting back on travel insurance as a way to save money, something which experts warn could be a false economy should they encounter difficulties during their trip.

AA Insurance found that 21% of British people have decided against leaving the UK for their annual holiday this year with 40% of those reporting that they simply can’t afford it, or that the downturn has forced them to reconsider their plans for a foreign holiday.

47% of those questioned as part of the survey said that the economic situation had affected their travel plans and that they will be looking at their budget more closely while deciding where to take their holiday this year. One way many of these travellers say they may try to save money is by not taking out holiday insurance.

However experts are warning that this could be a false economy as the cost of medical bills in a foreign country, even within the European Union, could set Brits back by thousands if they are not covered.

With many price comparison website offering holidaymakers the chance to compare the cost of travel insurance cover with a wide range of providers, it’s never been easier to find a great deal on holiday insurance, so there’s no excuse for holidaying without adequate cover.

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Importance of travel insurance highlighted by foreign office report

July 16, 2010 By Fiona Clarke Leave a Comment
people-getting-off-plane

The importance of adequate travel insurance was highlighted this week following the foreign office’s annual British Behaviour Abroad report.

The Foreign and Commonwealth Office (FCO) reported a high number of elderly British nationals encountering problems while abroad as a result of being hit by enormous medical bills because they had failed to declare any pre-existing medical conditions to their insurance provider before travelling. Failure to make this known can cause your travel insurance policy to be deemed invalid.

Other medical issues faced by UK travellers arose as a result of forgetting to pack their medication.

The volcanic ash situation emphasised again the importance of a good travel insurance policy. Those with cover were able to gain help from their policy in paying for extra accommodation and expenses while their flights were delayed.

Issues relating to drink and drugs were high on the list of situations encountered by British holiday makers aboard, according to the report.

The countries where Brits required the most assistance from the FCO was found to be in Spain, although as a proportion of UK visitors the country where the most help was needed was Thailand, followed by Pakistan and Cyprus.

Despite the dangers of travelling outside of the UK without appropriate cover, 1 in 5 Brits are still holidaying abroad without travel insurance a survey found.

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Travel insurance policies fall short on cover for airline insolvency

June 30, 2010 By Katrina Campbell Leave a Comment
family-on-holiday

A recent report has found that the majority of travel insurance policies fall short on providing holidaymakers with adequate cover should their airline go bust.

The financial research discovered that only 20% of the travel insurance policies currently available to UK holidaymakers offered the appropriate cover for policyholders in the event of their airline going into liquidation.

There are major repercussions for travellers if their airline goes under. Firstly your travel will be lost, which will have a knock-on effect on pre-booked accommodation, plus any extra excursions which may have been booked in advance, and also car hire.

Some travel insurance policies which do offer cover should your airline go bankrupt only provide compensation up to £1,500, which when you take all of the aforementioned details into consideration such as money lost on accommodation and such forth, the amount is far from adequate.

Travel experts advise that you book with a company which is ABTA or ATOL protected, as this way you will be covered in the event of an airline going bust. Also some credit cards offer cover if you pay for more than £100 of your holiday using your card, although you are advised to check with your bank that they offer this protection with your credit card.

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