What is over-65s travel insurance?
As you get older, you’ll find the price you pay for insurance increases – and this includes travel insurance. This is mainly because insurers perceive older travellers as being at a higher risk of making claims.
Typically, insurers have one premium bracket for those aged 18 to 64, and those aged 65 or over will pay more. This can often mean that low-risk, healthy customers can be turned down simply for being on the wrong side of 65, but there are insurers who do offer specific over-65s travel insurance.
Travel insurance for the over 65s may come at a price, but equally, you may get additional benefits that you wouldn't with a standard policy, such as extra emergency and medical cover.
You can also get standard policy coverage for lost or damaged possessions up to a certain amount, and even pay for cover against circumstances out of your control like the airline you’re flying with going bust.
And if you’re going on a cruise, make sure your policy covers this type of holiday.
What does travel insurance for over-65s cover?
Travel insurance for over-65s generally provides the same benefits as standard travel insurance. But you may also find that it includes extra coverage for medical related issues – a common feature in travel insurance for people in their later years.
Taking out over 65s travel insurance can offer medical benefits like:
- Medical treatment costs: A travel insurance policy for the over-65s might provide more cover for the cost of emergency medical treatment while you’re away
- Medicine: If you need to take any form of medication with you, a policy will help you pay for replacements if yours become lost or damaged
- Medical equipment: You may also be covered for the cost of replacing medical equipment, including wheelchairs or walking aids
- Pending treatment: Some over-65 travel policies can even provide cover if you need to end your holiday early for any medical treatment you have been waiting for
What else is covered by over-65s travel insurance?
While insurance policies for older people provide more medical cover than a standard travel insurance policy, there are other advantages:
- Age limit: Basic travel insurance often has a minimum for what age you can take out cover at – but policies designed especially for over-65s won’t. However you should keep an eye out for maximum age limits – read the policy documents to be sure before you take out cover.
- Travel companions: Another plus point is that you might even be able to take companions with you who won’t have to take out a separate policy. Instead, they’ll be covered for the same things you are
As with any insurance policy, it’s important to read the documents and policy wording carefully so you can understand exactly what level of cover you get.
How much does over-65s travel insurance cost?
The price of travel insurance with cover for over-65s varies by insurer, but the average single-trip policy cost £20.34 for people aged between 66 and 70 in May 2019. This increases to £28.31 for those ages 71 to 75, and £31.32 for those aged 76 to 80.
For people aged 66 to 70 buying an annual travel insurance policy, the average cost is £65.38. Between 71 and 75, such a policy costs £71.56, while for people aged 76 to 80, the cost is £95.48.
Costs increase significantly for older people who declare pre-existing medical conditions.
What isn’t covered by over-65s travel insurance?
Travel insurance policies generally have exclusions that are specific to older age groups. The main exclusion is the amount of time you can travel on one policy – some insurers might set a limit of around 31 days for the length of a trip.
This isn’t always set in stone, so check what each insurers’ travel limit is – or whether they even have a limit at all – when you compare quotes.
Travel insurance policies for over-65s also have many of the same exclusions as other policies, including:
- Undeclared medical conditions: Insurers won’t assume you have a list of medical conditions if you’re over 65. You should declare every condition that applies to you to make sure you’re covered for all possibilities, especially as medical costs can vary hugely between countries and continents
- Undeclared activities: Being over 65 shouldn’t limit the activities you’re able to do on holiday, but you’ll only be covered for potential injuries or lost belongings that occur if you’ve declared beforehand. This could be as simple as taking out an extra policy to cover the winter or water sports
- Undeclared belongings: Some insurers might require you to list the items you take with you abroad, particularly expensive or delicate items like instruments and gadgets. If you don’t list something, it’s unlikely your insurer will pay out for a claim
- Substance abuse: Insurers can also refuse a claim if you were under the influence during the event – for example, if you were drunk when you broke your arm falling down the stairs. This can differ depending on your insurer, as some may have a blood alcohol limit, while others may refuse if you have had anything to drink at all. The same can apply to drugs, as illegal substances are likely to void your claim, while prescription medication can be a grey area, depending on your insurer. You’ll need to have a proper read of their policy wording to make sure
- Reckless behaviour: Everyone’s expected to enjoy themselves on holiday, but it’s worth remembering that you might not be covered for injuries or lost and damaged items if it happens as a result of reckless behaviour – you should talk to your insurer to find out more
You should check with your insurer to see a full list of exclusions before taking out a policy, so you can be sure you’ve taken out the right level of cover and avoid any nasty surprises while you’re away.
When should you take out over-65s travel insurance?
It’s advisable to take out your travel insurance policy as soon as you’ve booked your holiday, as you will likely be covered in case you have to cancel your flights or accommodation early. You may have to do this as a result of:
- Redundancy
- Illness or injury
- Bereavement
Data collected by MoneySuperMarket between January and April 2019, accurate as of July 2019
Where can you go with over-65s travel insurance?
If you’re only travelling in Europe, you’ll be best suited to a policy that only covers Europe, while a worldwide policy would be better if you plan on visiting Asia or the Americas.
Worldwide insurance coverage can also come with exceptions, generally applying to the USA, Canada and the Caribbean – so if you’re planning on travelling to any of these places, it’s best to check your worldwide insurance policy offers coverage.
Data collected by MoneySuperMarket between January and April 2019, accurate as of July 2019
Compare over-65s travel insurance
When you’re taking out over 65s travel insurance, it’s always a good idea to shop around before you take out a policy. Comparing policies on MoneySuperMarket is simple – all you need to do is give a few details about where you’re going, how long you’re away for, and any pre-existing conditions you might have.
Then you’ll be able to browse and filter results depending on the provider, the level of cover they provide for medical costs, baggage and cancellation fees, as well as their Defaqto rating. This tells you what other customers have said about the policy, and can help you find the best ones on offer.
It’s important to remember that the cost of the policy isn’t the most important factor – you should pay more attention to what is covered by the policy, making sure that it provides everything you need in terms of medical cover and cover for your belongings.