Travel
Travel insurance secrets that might save your next holiday
Skipping travel insurance is risky business, especially as we get older. Experts reveal the must-know traps to avoid so your next holiday isn’t spoiled by surprise expenses.
By Rosalyn Page
The saying goes if you can’t afford travel insurance, you can’t afford to travel. But as we get older, it’s vital not just to have insurance, but to check the fine print – it might just be the difference between having your claim covered or rejected.
Whether it’s age limits, pre-existing conditions or medical inclusions, there’s some important things to consider when taking out travel insurance as you get older. Travel and insurance experts share their advice on what you need to consider before heading off on your next trip.
1. Have you seen a doctor lately?
When it comes to travel insurance, existing medical conditions are one of the most common exclusions people get caught out by, according to Jodi Bird, manager of money and travel with consumer advocate, CHOICE.
“If you have a medical condition that you've received treatment for in the last couple of years, check with your insurer if they cover it. You might need to declare your condition and pay an extra fee,” says Jodi.
More on this: 9 tips for travelling with an existing medical condition
In fact, anything that relies on medication can potentially cause issues with a travel insurance claim, according to Anthony Lee, owner of Traveloso.
“We find that our older travellers can forget about an ailment which could void their insurance if something happens when they are away. We often help our clients in declaring their conditions by asking them what medication they are taking,” says Anthony.
2. Expect to encounter age restrictions
Some insurance companies have age limits or might charge you more once you hit 65. So, it's a good idea to take some time to compare different options that cater to older travellers.
Be aware of any restrictions on activities too.
“Things like hiking, diving or zip lining could be off the table after a certain age,” says Sebastian Garrido, digital marketing manager with Vibe Adventures.
And while some travel insurers run a mile from older travellers, others, like Citro partner Freely, offer cover that’s tailor-made.
3. Beware other sneaky restrictions
Many insurers will impose age limits on their policies from about age 66 and up, but even if an insurer doesn't have an age limit, they may sneak in some other restrictions, according to Jodi.
“Keep an eye out for lower limits for medical cover, or a higher excess you have to pay if you claim,” he says.
Insurance premiums are generally based on regions of the world – Africa, North America and South America are generally more expensive than Asia and Europe, according to Anthony.
“The choice or holiday location can therefore determine the insurance premium and for older travellers it’s important to take into account the insurance premium as a cost of the trip,” he says.
On the other hand, if you’re a frequent traveller, it may be better value to consider a year-long policy instead of several separate ones, says Anthony. And be wary of travel insurance through your credit card.
“We often have clients claiming that their credit card company provides insurance, but they don't know the details or how the insurance is activated,” he says. “Be sure to understand what the insurance policy covers.”
4. Watch the booze on your trip
Travellers need to keep an eye on the amount of grog they drink and where they drink it. All insurers will exclude a claim if they think it was incurred because you were 'under the influence' of alcohol but how they define that can vary, says Jodi.
Some insurance will specify a blood alcohol content, while others leave it up to the insurer’s interpretation.
“If you're going to have a few drinks, take note of your surroundings and take it easy. Stairs on cruise lines and slippery footpath tiles are just a couple of things that have brought people undone,” he says.
5. Take a good look at cancellation and interruption policies
No one wants to cancel their trip, but it does happen and can be more common with older travellers.
“We've noticed that older travellers often have to cancel trips due to personal or family health issues, so it's smart to know what you're up against,” says Sebastian.
And make sure you have good coverage for emergency medical care and evacuation, especially if you're heading to places that aren’t the usual tourist spots, he notes.
Travellers should also have an idea of what refunds could come if they can’t go ahead with the trip and need to claim.
“A $50,000 European trip made up of a flight and cruise may be partially refundable,” says Anthony.
6. Compare quotes for a better deal
Like with all insurance policies, when it comes to travel insurance, it pays to shop around. As you advance in years, it will usually become more expensive because you’re seen as a costlier risk.
Most insurers will increase the cost of travel insurance as you get older, but how much they increase it by and at what age can vary significantly between insurers, according to Jodi.
“So if one insurer quotes too much money, keep searching around for a better deal,” he says.
But whatever you do, don’t overlook travel insurance in any circumstances.
“Look at insurance as part of the trip cost and not an unwanted cost element,” says Anthony.
Feature image: iStock/Leo Patrizi
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