For many, reaching your golden years and retiring is an opportunity to spend time enjoying life and leisure activities. After working hard throughout your adult years, retirement is the time you can spend reaping the rewards of your work. The freedom and fewer time constraints of retirement mean that many older people choose to travel and see the world. So, travel cancellation insurance for the over-60s is essential.
Travel insurance policies for over-60s can be more tricky to obtain or slightly more expensive compared to ones for younger people; however, that doesn’t mean it isn’t worth finding the right policy for you. Different factors impact how expensive a travel insurance policy is and here are a couple to consider:
Duration
As you’d expect, the longer your trip, the more expensive the travel insurance policy will be. So, if you plan on making the most of retired life with several lengthy trips a year, opting for an annual policy rather than several single-trip policies may be more cost-effective.
Destination
Some destinations will incur a higher travel insurance cost than others. This is often due to whether the location is considered ‘risky’ or not, for example, is there a history of natural disasters? However, as these locations often have a higher chance of something happening, it’s definitely a good idea to pay the extra and be protected.
Itinerary
The activities you’re planning on doing during your trip can impact the price of insurance. For example, if you’re planning a more adventurous retirement holiday and want a policy that covers activities such as snorkelling or skydiving, it will cost you more. In contrast, a more leisurely trip will likely be cheaper insurance-wise. You can even get specific cruise insurance if you’re planning on taking a trip across the seas.
Personal details
Your personal details and history will also impact the price of a policy. Specifically, your age and any pre-existing medical conditions are the two most significant factors taken into consideration. If you have medical issues, it is likely this may increase the price of your insurance.
To find the best travel insurance for seniors at a competitive price, use our comparison tool.