Pensioners face paying twice the price for their travel
insurance after their 66th birthday, a new survey has shown.
Research from online price comparison
site
moneysupermarket.com revealed that the average cost of
the five cheapest annual travel insurance deals available for
both European and worldwide holidays is more than double for
people who are 66 than it is for those aged 65.
Annual
European multi trip insurance rose by 109% from £23.79 for 65
year olds to £49.64 once an OAP turned 66. The average cost
for worldwide trips also went up from £36.42 to £73.41 – a
102% hike.
There is a
similar sorry story when people turn 70. European travel
insurance shot up 24% from £49.64 to £61.51, while worldwide
holiday insurance rose by 12% from £73.41 for 69 year olds to
£82.29 for those who were 70.
Pensioners
should be prepared to shop around to make sure they get the
best holiday insurance deals. Even the prices provided by some
of the more well known specialist senior citizens insurance
companies vary quite considerably, whilst other brokers can
also offer competitive deals – that is if they even cover
older people, as many have particular age restrictions.
It is also
worth people contacting their home, car or life insurance
providers, as they might be able to sort out additional travel
coverage as well. There might even be the opportunity of a
discount for existing customers.
Some
combined family package insurance deals can also lead to
savings for pensioners planning a group holiday.
Back in
July, one couple in their 80s hit the headlines after their
premiums went up by more than 600% from £168 to £1,002.