Over-65s pay double for travel insurance
Travel insurers dramatically increase premiums ‘overnight’ when customers reach their 66th birthday.
Research by Moneysupermarket.com found that the average price of annual multitrip travel insurance is more than double for a 66 year old compared to a 65 year old.
Annual multitrip policies cost an average of 106% more for 66 year olds compared to 65 year olds.
Moneysupermarket.com said the study shows how deeply embedded age discrimination is in the insurance industry.
Maxine Baker, the price comparison site’s travel insurance manager, said: “Brits turning 66 will be shocked to see an overnight hike in the cost of their travel insurance, with no further medical evidence to suggest they might be at higher risk.”
She added that the Equity Bill will make little different to this discrimination because it sanctions ‘appropriate age-based treatment’.
“I had hoped to see a distinct shift in insurers’ attitudes towards older travellers, but the new Bill just means insurers can continue to class older travellers as higher risk,” Baker said.