Top tips for cheap travel insurance for over 70s

Travel insurance for over 70s can be incredibly costly – and the price can often come as a shock. In this article we will provide:travel insurance for over 70's

–       A brief overview of travel insurance over 70

–       Why it is so costly

–       Ways you can help bring down your premiums

–       Tips to help you ensure that your cover is comprehensive

Upon retirement many people naturally want to spend time travelling, seeing the world and experiencing new cultures. But as we get older travel insurance premiums creep up. When you reach 70 the premiums tend to rise steeply – and this can come as a shock for many older travellers and holidaymakers.

Travel insurance for the elderly needn’t be expensive though – and it’s equally important to ensure that cutting costs doesn’t affect your cover. On this page we will share tips to help you source cheaper travel insurance if you’re over 70, whilst maintaining a level of cover that is suitable for you.

60 second overview of this article

  • Travel insurance for over 70s can be expensive
  • Premiums are especially high when you have existing health conditions
  • There are tips and tricks you can use to bring your premiums down
  • It’s important to ensure that you are fully covered when travelling

Why is travel insurance over 70 so expensive?

When you hit 70 you may see your travel insurance premiums hike up. Some premiums can go up by almost 50% – especially if you haven’t been away for some time and are likely to notice a big difference in price. So why is this? Statistically speaking older travellers are more likely to make a claim – either for medical treatment during their holiday or for a cancellation.

Insured parties are classed within several age brackets – 55 to 65, and 65 to 74. After the age of 74 it’s likely that you’ll see your insurance rise year on year.

Getting travel insurance over 70 is often costly, no matter where you want to go or when. Despite this there are benefits attached to seniors travel insurance – such as added extras. Generally policies for over 70s come with benefits that aren’t often available to younger policy holders, such as extra emergency and medical cover.

Travel insurance over 70 may be more expensive – but there’s good news for older travellers. There are tips and tricks you can employ to help keep your premiums at a minimum – some of which we’ll share later on in this article.

Here is a short video that explains more about getting cheaper travel insurance.

What insurance options are available for over 70s?

Although the cost of insurance may be higher, there are actually a range of versatile options available to older people who want to travel. These include:

–       Annual insurance policies: If you’re planning to travel for a long period of time or looking at taking multiple trips over the course of twelve months, an annual policy might be a better and more cost-effective option. This covers you for multiple trips whether you’re planning on visiting multiple destinations during one holiday or having several tours throughout the year. This is much cheaper than buying separate single trip insurance policies.

–       Location-specific insurance: If you’re purchasing an annual policy it’s worth planning where you’ll go in advance – as a European policy will be cheaper than a worldwide policy. This applies automatically when buying travel insurance for single trips as you generally will be able to cover all locations in one go.

–       Unexpected events: It’s worth checking to see whether your travel insurance includes cover for unexpected events. As there are now a number of unexpected incidents that can affect holidaymakers including civil unrest, strikes and natural incidents such as the Icelandic volcano of 2010. Taking out additional cover will incur an extra cost but it may be worth it for peace of mind and will pay dividends should a potentially disruptive event occur. Some seniors travel insurance will include cover for certain unexpected events as standard – which pushes up the price.

How to source reasonable travel insurance for the elderly

Travel insurance can be an unwelcome additional cost that you may not have factored in to your initial calculations when booking a holiday. Most of the time it is taken out as a necessary precaution – so understandably few people want to pay over the odds for something they’re unlikely to benefit from.

If you’re looking for cost-effective, reasonable cover there are several ways to minimise your premiums. Remember that the cheapest cover won’t be the best – it’s advisable to source travel insurance that covers all your potential needs for the best price – offering good value for money. To source reasonable travel insurance follow these five steps:

1/ Check for deals. Before you start your search, check with any existing insurance providers (home insurance, car insurance) to see whether they are willing to offer you a deal as an existing customer. At this stage it’s also worth seeing if any of the major companies are offering a sale or discount for new customers which could further bring down your premiums.

2/ Head online. The first step when looking for travel insurance for the elderly is to log on and search the web for seniors travel insurance. Most insurers now offer the best deals and the widest choice online. if you don’t have internet access or aren’t confident using a computer, ask a family member or friend to help you.

3/ Set a budget and consider your requirements. Once you’ve got a feel for roughly how much the insurance will cost, decide how much you’re willing to pay. Work your way down from a top estimate, as this means you can be open to more types of cover. Don’t forget that cover will naturally cost more if you have special requirements or have a long-term medical condition that puts you at extra risk.

4/ Compare cover and prices. Comparing cover and prices between companies will help you to determine the best possible price you can get for the most comprehensive cover. It’s possible to do this manually, but the best and easiest way is to use a comparison site. This way you can enter all your details just once, including any additional extras you need your cover to provide. They will then share all provider partners they work with alongside costs for each insurer. Some companies don’t partner with comparison sites – so you may need to add a couple separately to your list.

5/ Call direct to see if you can get the best quote. Once you’ve shortlisted several insurance providers, you can also call them direct to see whether they’re willing to offer an even cheaper rate. Often the best prices can be found online – but occasionally they may be able to lower your premium if you speak to them directly.

Tips when buying seniors travel insurance

The last thing you want is to pay too much for too little cover – or pay too little and find you aren’t protected against common issues holidaymakers face. There are a few key things to bear in mind when buying seniors travel insurance. These include:

Check out what is classed as ‘standard cover’ and compare: Most insurers will have the same schedule of cover – where they will vary is the amount of cover offered. It’s important to get a feel for what’s ‘enough’ and what’s ‘too little’ or ‘too much’. This will partially depend on your personal situation. For example, if you plan on taking expensive belongings on your trip £500 for lost baggage may be insufficient.

– Don’t forget about added extras: If you’re planning on taking certain items or equipment on your trip, or want to engage in activities, standard cover may not be enough for you. Also consider special cover for cameras, mobility aids or wheelchairs and sports equipment such as golf clubs.

– Look at specialist insurance providers: Insurance prices for over 70s vary widely. Some standard insurers may turn you away for being the wrong age – others may charge extortionate premiums. It’s probably best to look at quotes from specialist insurers as well as general ones, as there are now many that specialise in older travellers.

As they are specifically set up to cater to the travel insurance needs of over 70s they are less likely to overcharge. They’ll work out your premium based on your individual health and claims history. Staff will be knowledgeable and sympathetic and tailor the cover to suit your specific needs.

– Read up on destinations before you fly: Before you fly (or even before you book your holiday) it’s prudent to check out health facilities and medical provision in your destination country. Research any potential health risks and organise vaccinations or medication such as malaria tablets. Speak to your GP before you fly to identify any potential problems associated with your medical history.

– Always read the small print: So many of us neglect to read small print – but it’s especially important if you’re buying seniors travel insurance. Read the small print carefully and thoroughly to make sure your cover is as comprehensive as you think it is.

– Avoid policies sold as standard by tour operators: These policies don’t necessarily offer sub standard cover, but they will almost certainly be more expensive than policies offered by other insurers.