British pensioners face high travel insurance costs, with European travellers facing a significant hike in prices as they reach the age of 65.
According to moneysupermarket.com, travellers hitting their 65th birthday and travelling within Europe will see a massive 174 per cent increase in their travel insurance multi-trip policy. Those opting for the worldwide equivalent will fork out 131 per cent more.
Bob Atkinson, travel expert at moneysupermarket.com said “With people in the UK living longer, and with many pensioners having far more disposable income which enables them to travel more, insurers need to change their attitude towards older travellers and play fair by ensuring the premiums they are charged actually reflects the risk they pose.”
He added “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.”
With so many providers offering differing cover it’s important to understand what travel insurance cover you are buying and not just consider that the cheapest travel insurance is the best.
Don’t forget too, if you haven’t got an EHIC you can apply for one free.