Older people pay too much for travel insurance?
A study by Which? suggests that the older you get the worse deal you receive on travel insurance. They quote the example of one insurer where a 74 year old would pay £324 more for his annual travel policy as soon as he turns 75. In another case they have found a single trip policy costing £57 for a 69 year old that would cost the same person £86 if he was one year older.
Travel insurers have responded by saying that this is not age discrimination but simply that older make more claims. The message for everyone is simple; you must shop around before arranging your holiday cover. Different insurers charge different prices right up and down the age scale. It may also be worth your while buying your policy just before rather than after a birthday.
Another area where travel insurance providers differ is in their attitude to pre-existing medical problems. You may have to complete a screening questionnaire so do not leave it to the last minute to arrange your insurance.
Let us know your thoughts on the above:
Are you over 65 and think you should be paying less for your insurance cover?
Would you be prepared to pay more for your car insurance if age criteria was banned from product rating?
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