OAPs getting bad deal on travel insurance


Travel insurance providers force their elderly customers to pay huge increases in their premiums when they reach certain age brackets, according to new research from Which? Money.

As people get older, they move into different brackets, meaning customers are suddenly expected to pay a huge increase in their premium in the space of just one year.

Which? highlights Rias, a specialist travel insurance provider, as one example. If you are 74 years old and you want the annual worldwide travel insurance with Rias, you will have to pay a premium of £383. However, this jumps up to £707 for customers who are 75 or older.

In all, Which? studied 98 annual covers, and discovered that only five out of these provided any cover whatsoever for people over 80 years old.

Single trip cover was also causing problems. The research highlighted Saga, which offers cover for a 15-day trip to Europe for £57 to those aged 69 years old, which jumps to £86 for those aged 70 and over.

In addition, the consumer group discovered that large differences were normally found between telephone quotes and online quotes.

So is this age discrimination? The ABI (Association of British Insurers) says that it is not, and a spokesman is quoted in The Daily Telegraph as saying that insurers “do not discriminate on age”, and that age is only taken into account “where it may be relevant to the risk, based on claims experience.”

Still, Which? claims that many older people are “getting a raw deal” in terms of purchasing insurance, especially as older people often need insurance the most. It is also encouraging people to shop around to try to find the best rates before they make a purchase.


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