Travel insurance policies are “uncompetitive” for older travellers, according to an expert.
Premiums for travel insurance policies “jump” by as much as 100 per cent between the ages of 65 and 66, research from moneysupermarket indicates.
Furthermore, elderly travellers face an additional price rise upon reaching the age of 70, the research indicates.
Richard Mason, director of insurance at moneysupermarket, comments: “This pricing structure for senior travellers is unnecessarily punitive.
“Only one provider offers a premium to this age group which could be considered real value for money.”
He adds that many insurers have “clearly hiked” the price of travel insurance for customers over 65, which he claims cannot be justified.
However, Mr Mason admits that insurance risk may well increase with age, although he asserts that a divide between the ages of 65 and 66 is “laughable”.
He claims that travel insurance providers should do more to provide reasonable rates for a growing market and older people should not be “penalised for going abroad”, with “affordable travel insurance policies made available”
Recent research from swiftcover shows that around 2.5 million UK residents will travel without travel insurance this summer.
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