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 due to insurers perceiving older travellers as being a higher risk.
Typically, insurers have one premium bracket for those aged 18-64, and those aged 65 or over will pay higher premiums. This can often mean that low-risk, healthy customers can be turned down for being 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 find you get additional benefits that you wouldn't have 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 cover against circumstances out of your control like the airline you’re flying with going bust. You may have to pay extra for this cover – but it may be a price worth paying to avoid ending up out of pocket.
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 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, an over 65s travel insurance policy could 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 for if you need to end your holiday early to come back for any medical treatment you were waiting for or expecting if you were on a waiting list for surgery.
The most commonly declared illnesses people declare when searching for travel insurance with coverage for pre-existing conditions, according to MoneySuperMarket data - accurate as of July 2018.
What else is covered by over 65 travel insurance?
While many over 65 policies provide a higher level of medical cover than a standard travel insurance policy, they can also offer other advantages:
- No age limits: basic travel insurance can often have a cut-off point for how old you can be to take out cover, and this can often be at around 65 years. But with a policy that’s designed specifically for older age groups, you can be sure that the coverage will apply to you.
- Travel companions: another plus point of travel insurance policies for over 65s is that you might even be able to take companions with you on your holiday - and they won’t have to take out a separate policy. Instead, they’ll be covered for the same things that you are, where some insurers might only offer the same benefits available to the oldest member of the travelling group, and some may only allow travel companions if they’re necessary for you to travel.
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 would get.
How much does over 65s travel insurance cost?
The price of travel insurance with cover for pre-existing medical conditions for over 65s can vary by insurer, but the average policy costs £75.02 for people between 61 and 70 years.
The average cost of pre-existing medical condition travel insurance for over 65 year-olds is £75.02, according to MoneySuperMarket data - accurate as of July 2018.
What isn’t covered by over 65s travel insurance
Over 65s travel insurance can offer advantages that other policies may not be able to, like enhanced medical cover - but they might also have exclusions that are specific to older age groups. The main exclusion is the amount of time you can travel on the policy – some insurers might set a limit on how long you’re allowed to travel for, and can set the limit at around 31 days.
This isn’t always a concrete amount, so it’s best to check what each insurers travel limit is - or whether they even have a limit at all - when you compare quotes.
Other common exclusions for over 65s travel insurance
Travel insurance policies for over 65s also have many of the same exclusions that other policies do, 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 during these activities if you’ve declared beforehand. This could be as simple as taking out an extra policy to cover the activity, such as winter sports 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 and it becomes lost, damaged, or stolen, 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 that means you won’t be able to claim if you’re over, 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 the actual holiday, as you’re more likely to be financially 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
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.
The average cost of travel insurance with cover for pre-existing medical conditions by destination, according to MoneySuperMarket data - accurate as of July 2018.
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. This way you can be sure you have the right level of cover, so you won’t be over- or under-insured.