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Travel Insurance

Tips for travel insurance in later life

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.

Photo: Free image by Pixabay
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Travel Insurance

What are the most common travel insurance claims?

Travel insurance is an essential pre-trip investment for any traveller. Travel insurance can help you pay for unexpected things that happen that would otherwise leave you largely out of pocket. But what are the most common travel insurance claims? Let’s take a look in this article!

The most common claims are for the following:

1) Flight delays

2) Cancellations of flights or accommodation

3) Medical costs

4) Lost or stolen baggage

A whopping 93% of travel insurance claims are for one of the above. Let’s explore in a little more detail…

Trip cancellation and delays

The most common reason for claiming on aib travel insurance tends to be trip cancellation or abandonment, with around 40% of claims being related to this.

Trip cancellation could come from the customer’s end or the supplier’s end – for example, if an airline goes bankrupt, they would subsequently cancel their customers’ trips.

However, trip abandonment could refer to when someone is unable to make a trip. This could be for a variety of reasons, including personal illness or illness of a relative, bereavement, moving jobs, or personal financial issues.

Illness or injury

Illness is the next most common claim, and many people consider this to be the most important thing to be insured for. This is because falling ill overseas, or having a bad injury, can result in bills of up to a million Dirhams or more.

And claiming for illness and injury is fairly common, although generally medical bills are less expensive. Still, having travel insurance for medical reasons is essential for peace of mind.

Lost or stolen baggage

Lost or stolen baggage is another common travel insurance claim. These are sometimes contested, especially if the baggage was not reported missing in time or left unattended.

There is also usually an excess, and some people find that the contents of their baggage are worth less than the excess, therefore they may not bother claiming.

There are many other things that you can claim on insurance for, but these are the main ones. As discussed, it’s important to have travel insurance not just so your holiday is covered if you need to cancel or if your airline or accommodation cancels, but so you are covered if you get ill overseas. Click here to find the right schengen visa insurance for you.

Photo: Free image by Pixabay