Older travellers still face sharp increases in travel insurance premiums when they turn 65, research has revealed.
When pensioners take out insurance to travel in Europe there is a 174% increase and 131% increase for worldwide destinations, compared to those aged 64.
Travel is a huge priority for retirees and people 65 or over, but those seeking to enjoy their pension years should brace themselved for a shock at the cost of their annual multi-trip travel insurance policies when they turn 65.
The research conducted by moneysupermarket.com also shows that there are further considerable hikes as people get older.
For instance, when you turn from 65 to 66 years of age there is another average increase of 46% and when you turn 71 there is once again a further 20% hike.
Bob Atkinson, travel expert at moneysupermarket.com, said: 'Anyone who is planning to spend their retirement seeing the world should prepare themselves for the shock of being penalised for turning 65, and this is repeated when you turn 66 and then 70.
'My advice to travellers who find themselves in this situation is to shop around as the difference in premium can vary considerably between providers.
'You should always take out travel insurance no matter how high the premium may seem, as the cost of medical treatment or repatriation would be considerably higher and would leave you with some expensive bills to pay.'
People in the UK are living longer and many pensioners now have far more disposable incomes in which to travel with. The increased levels of price for travel insurance when you hit retirement age doesn't seem to fairly reflect the risk people over 65 pose when going abroad.
วันเสาร์ที่ 20 มีนาคม พ.ศ. 2553
Travel insurance hike points to taking career break
Older travellers are facing steeper travel insurance premiums when they turn 65, possibly encouraging more people to take a career break earlier in life.
Research by moneysupermarket.com found that when pensioners take out insurance to travel in Europe there is a 174 per cent increase, with a 134 per cent increase for worldwide destinations, compared to those who are aged 64.
The data also showed that when a person turns from 65 to 66 years of age there is another average increase of 46 per cent, making a career break more attractive earlier in life.
Bob Atkinson, travel expert at moneysupermarket.com, advised: "You should always take out travel insurance no matter how high the premium may seem, as the cost of medical treatment or repatriation would be considerably higher and would leave you with some expensive bills to pay."
People taking gap years or career breaks in the coming weeks need to make sure that they check their travel insurance in light of the planned British Airways strikes, according to Gocompare.
Research by moneysupermarket.com found that when pensioners take out insurance to travel in Europe there is a 174 per cent increase, with a 134 per cent increase for worldwide destinations, compared to those who are aged 64.
The data also showed that when a person turns from 65 to 66 years of age there is another average increase of 46 per cent, making a career break more attractive earlier in life.
Bob Atkinson, travel expert at moneysupermarket.com, advised: "You should always take out travel insurance no matter how high the premium may seem, as the cost of medical treatment or repatriation would be considerably higher and would leave you with some expensive bills to pay."
People taking gap years or career breaks in the coming weeks need to make sure that they check their travel insurance in light of the planned British Airways strikes, according to Gocompare.
Does your travel insurance cover British Airways strikes?
Passengers of British Airways who had plans to fly during the strike dates should check their travel insurance to see if they are covered for delay and abandonment cover, says Gocompare.
Some travel insurance policies will pay out if passengers are left at departures when British Airways cabin crew go on strike between 20 and 31 March, which is likely to disrupt flights for the entire period and also a few days following to deal with the backlog of cancelled and delayed flights.
When travellers could be on the beach, the slopes, or taking a relaxing city break, a travel insurance payout will not completely ease the disappointment of a cancelled or delayed trip, but Gocompare suggests that at least the cost of the holiday could be recouped.
However, those passengers who took out travel insurance retrospectively on 12 March or after, the day when the strikes were announced, will not be covered for delayed or cancelled flights, the comparison website warns.
Passengers are afforded compensation by airlines under an EU travel directive in certain circumstances, but travel insurance can offer additional cover for delays.
Airlines must provide passengers who are delayed more than two hours with a meal and refreshments, access to communications and, if appropriate, accommodation. A delay of more than five hours will require the airline to fully refund the cost of the ticket.
Some travel insurance policies also provide compensation for delays, but this will vary from one provider to another, so travellers should compare travel insurance to get the best value for money, Gocompare urges.
Mark Greening, head of product partnerships at Gocompare.com, said: "Yet again it will be innocent passengers who will be most disrupted when British Airways staff take industrial action. Unfortunately travel insurance can't make your flight take off on time but many policies do offer useful cover which will help you meet the unexpected extra cost of food and drink whilst you're hanging around the departure lounge.
"In the worst case you may decide to abandon your holiday altogether and travel cover can give you that protection but it's always worth checking the wording of your policy to make sure under what circumstances you can reclaim the cost of your trip."
Mr Greening urges all passengers to check the terms of their travel insurance and get official confirmation of the length and reason of the a delay which would result in a claim being successfully made.
Some travel insurance policies will pay out if passengers are left at departures when British Airways cabin crew go on strike between 20 and 31 March, which is likely to disrupt flights for the entire period and also a few days following to deal with the backlog of cancelled and delayed flights.
When travellers could be on the beach, the slopes, or taking a relaxing city break, a travel insurance payout will not completely ease the disappointment of a cancelled or delayed trip, but Gocompare suggests that at least the cost of the holiday could be recouped.
However, those passengers who took out travel insurance retrospectively on 12 March or after, the day when the strikes were announced, will not be covered for delayed or cancelled flights, the comparison website warns.
Passengers are afforded compensation by airlines under an EU travel directive in certain circumstances, but travel insurance can offer additional cover for delays.
Airlines must provide passengers who are delayed more than two hours with a meal and refreshments, access to communications and, if appropriate, accommodation. A delay of more than five hours will require the airline to fully refund the cost of the ticket.
Some travel insurance policies also provide compensation for delays, but this will vary from one provider to another, so travellers should compare travel insurance to get the best value for money, Gocompare urges.
Mark Greening, head of product partnerships at Gocompare.com, said: "Yet again it will be innocent passengers who will be most disrupted when British Airways staff take industrial action. Unfortunately travel insurance can't make your flight take off on time but many policies do offer useful cover which will help you meet the unexpected extra cost of food and drink whilst you're hanging around the departure lounge.
"In the worst case you may decide to abandon your holiday altogether and travel cover can give you that protection but it's always worth checking the wording of your policy to make sure under what circumstances you can reclaim the cost of your trip."
Mr Greening urges all passengers to check the terms of their travel insurance and get official confirmation of the length and reason of the a delay which would result in a claim being successfully made.
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