What factors can affect the cost of my travel insurance policy?
Like any type of insurance, travel insurance for over 60s can be a complicated business. While it’s important to find something that hits the spot pricewise, it’s equally as important to find something that covers you in every eventuality – whether you lose your luggage, or need a lengthy hospital stay.
There are a variety of factors that go into calculating the cost of your insurance, and they vary from provider to provider. The main ones however are:
- Pre-existing medical conditions: the more serious it is, the more it’ll affect your premium. For example someone with heart disease will almost certainly pay more for travel insurance than someone with asthma.
- Your chosen destination: it’s usually cheaper to get travel insurance for over 60s if you’re headed to Europe, but less so if you’re jetting further afield to places like the US, Canada, or the Caribbean. The reason being that medical care is generally much pricier in those areas.
- The length of your trip: from the insurer’s point of view the longer you’re away, the more there’s a chance of something going wrong.
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