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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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Annual travel insurance doesn’t always cover kids travelling alone

June 10, 2011 By Paul Roberts Leave a Comment
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Parents are being urged to check the small print on their annual travel insurance policies as recent research has found that approximately half of those policies offered don’t provide cover for children travelling alone.

Independent research company, Defaqto, found that half of the annual travel insurance policies available in the UK don’t cover a child if he or she travels independent from an adult. According to the small print on the policies, a relative or guardian must accompany the minor in order for the cover to be valid.

Although the majority of families will travel together, in some cases youngsters will travel alone with the intention of meeting up with a family member later into the journey. If this is the case for you, you’re advised to check your annual insurance policy to ensure your child has adequate cover while travelling alone.

Other research also found that the cost of a single trip travel insurance policy has increased by 23% over the course of the last 3 years. With holiday insurance costs rising at such a steep rate, the use of price comparison websites is on the increase as more and more people seek to track down the most affordable deal available on travel insurance.

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Female car insurance provider not worried about EU ruling

February 23, 2011 By Dawn Bickford Leave a Comment
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Specialist female car insurance provider, Sheila’s Wheels, say they are not worried about the forthcoming European Court of Justice ruling which is expected to bring an end to gender bias in the car insurance industry.

Currently, women enjoy cheaper car insurance premiums than men on the whole, this is especially true in the younger age brackets as young male drivers have been proven to pose a bigger risk to insurers as they have a higher accident rate. However if the expected EU ruling goes ahead, it will then become illegal for insurance providers to calculate insurance rates based on gender.

This could spell bad news for insurance companies, such as Sheila’s Wheels, who specialise in cover for female drivers. However the insurer says they are not worried about the anticipated change. They believe that the change could be beneficial to specialist female insurers as it will attract more drivers to their brand.

Although Sheila’s Wheels do offer insurance policies to men, the overwhelming number of customers are female. Because of this high ratio of women to men holding Sheila’s Wheels policies, premiums will be kept low as women are statistically, less likely to be involved in a serious accident.

Sheila’s Wheels are currently running an advertising campaign on TV and in press publications, however they are not planning to run an ad campaign in light of the expected change to gender discrimination in the insurance industry.

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The number of travel insurance policies on the market increases

June 11, 2010 By Paul Roberts Leave a Comment
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The number of travel insurance policies currently available in the UK has risen, according to a recent report.

A study which was carried out by an independent research company found that the number of holiday insurance policies which are now available has risen by almost 10% despite the fact that travel to overseas destinations has fallen drastically.

1,018 travel insurance policies are currently on offer, when 12 months earlier there were  just 930. 50% of the new travel insurance policies were introduced by five of the biggest national insurance companies.

As the country slumped deeper into the economic recession last year, more and more people cut back on non-essential spending, which included holidays for many. For this reason, a huge percentage of people chose to not take a holiday abroad last year, with many opting for the cheaper option of the stay-cation which involves holidaying in the UK.

According to recent statistics, overseas travel decreased by 16% during 2009. However travel agents and insurance companies are hoping to recoup some of the losses from last year as thousands of Brits prepare to leave the country to support England in the football World Cup which is being held in South Africa.

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Travel insurance essential for men as they are more likely to encounter a problem while on holiday

June 8, 2010 By Dawn Bickford Leave a Comment
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Travel insurance should be essential for all, but for men it seems the need for cover while abroad is especially vital.

A recent study has revealed that men are three times more likely to run into trouble while on holiday when compared to women. The survey questioned over 2,000 customers of an online travel agent and discovered that 34% of men fall victim to some type of mishap while away from home, compared to just 11% of female travellers.

One theory to explain statistics is that men tend to behave in a more carefree manner and are will more commonly throw caution to the wind while away on their holidays, whereas women tend to be more careful.

Despite the high percentage of men who run in problems while on holiday, 19% of those questioned as part of the survey said they don’t take out travel insurance when planning a holiday.

Topping the poll for the most common accidents experienced by holidaymakers is slipping by the pool, followed closely by falling over after drinking too much. Road accidents, water sports, and skiing mishaps were also included in the top five most common problems. As far as health issues are concerned, the most complaints while abroad are caused by food poisoning, with heat stroke coming in a close second.

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Travel insurance add-on to cover volcanic ash disruption is launched

June 4, 2010 By Dawn Bickford Leave a Comment
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Aviva have launched a new add-on feature to their travel insurance policy to protect against disruption caused by the volcanic ash cloud from Iceland.

The optional extra can be added to travel insurance policies from the beginning of June. The add-on cover can be included on single trip and annual trip policies.

Existing customers with Aviva will also have the opportunity to add the volcanic ash cloud cover to their policy, although they must purchase the cover direct from Aviva within 30 days from June 1st.

With experts warning that the ash cloud is likely to hang around for the rest of the summer, and possibly the next few years, Aviva’s policy looks set to become very popular with travellers. Many insurers are wary of offering cover on ash cloud disruption due to the widespread problems which travellers have experienced over the last few weeks.

The cost of adding the volcanic ash cloud cover to a travel insurance policy with Aviva stands at £5 per head, or £10 per person for annual trip cover. Each policyholder will be covered for up to £5,000 should their trip be cancelled due to airspace being closed due to the ash cloud. This will cover all travel and accommodation costs which customers are unable to recover from their provider.

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Female motor insurance company branches out into travel

February 1, 2010 By Katrina Campbell Leave a Comment
sheilas-wheels

 

Sheila’s Wheels, the insurance company which specialises in female car cover, has added another branch of insurance to its growing portfolio. 

The company has launched a travel insurance policy for female customers. The cover offers comprehensive insurance as well as a number of value for money features geared specifically towards women. 

One of the new female-friendly features on the new travel insurance policy from Shelia’s Wheels is the “Handbags on holiday” cover. This means customer’s handbags are covered as standard when a baggage policy is taken out. Plus a customer will not be required to pay an excess charge if their bag is forcibly stolen from them. 

A holiday hotline, which is available 24/7, has been set up for the convenience of travel insurance customers. The designated phone number allows policy holders to call up while abroad if they have any queries, or for customer to call to clear up any questions they have before they travel. 

Another great feature of the female-only travel policy is their “By your side pledge” which means that if a customer is forced to stay in foreign country due to a medical problem, the insurance cover will ensure a companion stays with the policyholder until they are fit enough to travel home. 

As an added bonus, customers who book online are entitled to a 10% discount.

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