If you are aged 50+ and are looking for travel insurance, then the good news is that there are a number of specialist policies available that typically provide comprehensive cover, and without breaking the bank.
But firstly, why is travel insurance so important?
Depending on the policy and the level of cover you choose, travel insurance can cover a multitude of events that could spoil the enjoyment of your holiday – as well as leave you out of pocket. For example:
- loss of your luggage, tickets or passport;
- you needing to fly home earlier due to the emergency illness of you, your travelling companion or a member of your close family;
- you miss your flight or other travel connections;
- you become seriously ill before you travel and have to cancel or abandon your holiday plans;
- your travel money is stolen;
- you need emergency dental treatment;
- your break your leg while abroad and have to cover the medical costs as well as the repatriation costs (after all, it is likely you may need a row of seats so you can stretch your leg out).
These are just the tip of the iceberg of the things that could happen before and during your travels, so it makes sense to be protected.
Won’t my EHIC cover me on holiday?
You may think that your European Health Insurance Card (EHIC) covers you when travelling in European Economic Area (EEA) countries but you need to be aware that you may only get treatment at a reduced cost – it may not be completely free.
Also, things like medicines and dressings etc. may still attract a charge.
The EHIC does not include repatriation costs, either, nor loss or damage to your possessions or holiday cancellation.
That is why travel insurance is such an important product to have.
Why can it be difficult to get travel insurance if you are aged 50 or over?
Insurance policies are priced on risk – so the more likely you are to make a claim on the policy, the more the cover is likely to cost you. And this applies to all insurance policies, not just travel. (Which is why, on the upside, motorists aged 50 and over tend to get cheaper car insurance premiums, as they are seen as more experienced and safer drivers than their younger contemporaries).
As we get older, the likelihood of us suffering from illness increases, meaning that a planned holiday may have to be cancelled due to ill health or we get ill whilst abroad – leaving the insurer with a bill to pay. That is why, typically, over 50s travel insurance policies may be priced higher than you would expect.
There are, however, travel insurance providers who recognise that our generation are healthier and living longer than previous generations – and so they offer more realistically priced protection to reflect this.
This is why it make sense to shop around and compare travel insurance plans specifically aimed at the over 50s, to make sure you get the most suitable protection and at a price that meets your budget.
