Finding the right over-50s travel insurance policy
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As you start to get older, you may need to think differently about your travel insurance plan. What may have suited you several years ago, may not be the right policy for you right now.
Discover what makes up the perfect over 50s travel insurance policy
Finding the right over-50s travel insurance policy
Do you dream of travelling around the world? Perhaps it is your life ambition to travel around the seven wonders of the world, from visiting the Great Wall of China to the Colosseum in Italy or the Taj Mahal in India.
While we may dream of travelling around the world in our youth, the truth is that many of today’s intrepid travellers are globe-trotting in later life. It makes sense. After all, you may be approaching retirement, the kids may have grown up, or you may have greater disposable income, turning that dream into reality.
If you’re considering heading out on a golden gap year or even the holiday of a lifetime, then it’s essential that you have the correct travel insurance in place.
But what does an over-50s travel insurance plan look like? Let’s find out!
Why do you need travel insurance?
Before we get into the heavy details regarding over 50s travel insurance, it’s essential to start from the beginning.
If you’re planning on travelling anywhere, in the UK or abroad, you should always take out a travel insurance plan. Although it may not be a mandatory insurance policy in the same way as car insurance, it’s very much recommended. It’s there to make sure that you are not financially penalised if something happens to you or a family member between booking your holiday and returning home from your trip of a lifetime.
A standard travel insurance policy will provide you with:
- Medical treatment in case you fall ill or suffer an injury
- Financial compensation if your holiday is cancelled or something happens and you can’t jet off
- Protection if any of your baggage, personal possessions or gadgets are lost or stolen
- Repatriation to the UK
Will you need specialist insurance for over 50s?
The great news is that most standard travel insurance policies are for people aged 18-64. Therefore, if you’re over 50, you probably won’t need to search for specialist travel insurance.
But, as you get older, you may be more likely to be affected by a range of pre-existing conditions or take regular medication. In this case, choosing an over 50s travel insurance policy will be the best way to make sure that you will have complete protection.
You might be tempted to opt for the lowest price for travel insurance. We get it. No one wants to spend a penny more than they need to on insurance, especially if you’ve never needed to make a claim before.
However, doing a little advanced research is always worthwhile to make sure that your travel plan pays out when you need it.
With a specific insurance plan aimed at people in their fifties (and beyond), you may benefit from
- Additional medical and emergency cover covering specific medical conditions
- Cover for named medicines and specific prescriptions
- Any mobility equipment will be protected against damage, theft or loss.
- Adding named travel companions on the same policy
Choosing the right type of over-50s travel cover
Your first choice is to decide which type of travel insurance plan you’re looking for. There are many different types, and your choice may depend on where you intend to visit and what activities you plan on doing.
Single trip travel insurance
This will last provide you with cover for one single trip, or one destination. It’s ideal for those people planning on an annual holiday.Annual trip travel insurance
If you want to travel more than once a year, or you’re going to be out of the country for over 30 days, an annual travel insurance policy will likely offer better value for money.Golf travel insurance
The Algarve is an amazing place to head to for a golfing holiday. If you’re planning on a getaway with your golf buddies, you’ll need specialist travel insurance to protect your clubs.Cruise travel insurance
The over 50s cruise market is huge. Taking out specific cruise cover will offer the financial protection you need that comes with life at sea. It will cover you in case you miss a port, or if you suffer a medical emergency and need to be confined to your cabin.Sports travel insurance
Whether you’re headed for a ski trip or plan on taking part in water sports, you will benefit from enhanced protection against injury.Gadget cover travel insurance
We all love to stay in touch with our loved ones while we’re away. Adding gadget cover will protect your phone or tablet from loss, damage or theft.Why do older people struggle to get standard travel cover?
You may find that standard travel insurance policies become more expensive the older you get. That’s because insurers may be more concerned that you are statistically more likely to make a claim.
For example, as you grow older, you may start to suffer from a bad back or be affected by high blood pressure. You may be more likely to be diagnosed with diabetes or suffer from circulation issues.
Whatever the circumstances, travel insurers will likely want to know more about your medical history, which could impact your premium price.
That doesn’t mean you won’t be accepted for a standard travel policy. Far from it. If you’re in your over-50s and you’re generally fit and healthy, you won’t have any problems securing travel insurance.
Does travel insurance for over 50s cover pre-existing conditions?
The great news is that, as we’ve already mentioned, specific over-50s insurance plans will offer greater protection against a broader range of pre-existing conditions.
For most standard travel plans, you’ll already be covered for most common health conditions. But as we’ve already stated, as you get older, your body will begin to change, and you’ll be more likely to rely on a wide range of prescription medications or mobility aids.
Typically, a pre-existing condition may include illnesses such as
- Cancer
- Heart conditions
- Respiratory or circulatory conditions
- Stroke
- Terminal illness
If you have a known pre-existing condition, your travel insurer will want to know some of the details, such as what medication/treatment you are on, when you last saw a doctor, and what your prognosis is. By giving them as much information as possible, you can have more confidence that your travel insurance will pay out if and when you need it to.
Failing to declare a medical condition could result in a rejected insurance claim
You might be tempted to hide a medical condition to try and secure a cheaper policy price. After all, if you’ve been fit and healthy for a long time, what is the likelihood that you’ll have a flare-up when you’re on holiday?
This is a considerable risk, and in our opinion, it’s not worth taking.
If you’re searching for travel insurance with pre-existing conditions, it’s because you want to know that you will be financially protected if you fall ill or need to get hold of a prescription.
Failing to tell an insurer about a pre-existing condition is also known as ‘non-disclosure’. It will almost certainly mean that any eventual claim is rejected.
Here in the UK, we’re fortunate to be shouldered from the cost of medical treatment thanks to the NHS. If you’re travelling abroad, where health insurance is essential, you could be left with a costly bill or even denied treatment entirely.
It’s also worth reiterating that if you travel against medical advice, you will also be invalidating your travel insurance policy.
Travel insurance for the over 50s doesn’t have to be expensive
Any travel insurance price will depend on a variety of factors, including:
- Age
- Destination
- Trip length
- Intended activities
- Level of cover required
Typically, you’ll find that most insurance policies will be broken down into European cover and Worldwide cover.
European cover is often much cheaper because we have access to the Global Health Insurance Card (GHIC). This gives UK citizens access to state-supplied healthcare throughout Europe, with a promise of essential medical treatment.
However, it should be noted that having a valid GHIC is not a replacement for travel insurance.
Top tips for lowering your over 50s travel insurance premium
As you search for your travel insurance plan, there are a few simple tips and tricks you can use to lower your price.
- Compare single trip vs annual policies. Even if you’re only planning on one foreign holiday and one UK trip, it’s worthwhile checking to see the difference in price. Choosing an annual or multi-trip policy may provide better value for money, especially if you’re planning on travelling again next year.
- Compare prices with different insurers. Here at Insurance Dog, we can offer instant travel insurance quotes, allowing you to compare prices. We always recommend checking to see what other insurers may quote because you may find that there are significant differences in price.
- Double-check that you’re not over-insuring yourself. Many travel insurance policies will offer gadget cover or personal possessions insurance. These are great. No one wants to lose their personal belongings while on holiday – but you might already have protection in place. Before you choose a travel insurance policy, you should check to see if your contents insurance or mobile phone insurance covers you while you’re away. Quickly checking those small pointers may save you from duplicating insurance that you already have!
- Look at the whole package, not just the introductory price. Of course, while you are comparing policies, check the details of the plan. You want to look at the specifics of your insurance, such as how much the excess is. What is the compensation for lost luggage? Will it cover you for additional prescriptions? Will you need to pay for specific mobility aids, or will they be covered as standard? Paying attention to the policy details rather than just the upfront cost is the best way to make sure that you’re choosing the right over-50s travel insurance plan for your needs.
- Check if there are any exclusions. If you have any pre-existing conditions, you need to be 100% clear about any exclusions that may be added to your policy. If you’ve seen any policies but you’re not sure you understand what the jargon or terminology means, please feel free to send us a quick email. We firmly believe that everyone deserves to know what they are taking out, so don’t be afraid to ask the question. We’ll do whatever we can to help.
Frequently Asked Questions
Many travel insurance providers specialise in cover for people over 50, as well as those over 50 with medical conditions. There is no right or wrong answer to which company is best for you, as it will depend on your individual circumstances. When searching for over-50s travel insurance, you should always compare and contrast different policies to make an informed decision.
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