26, March 2015: Recent research undertaken in the travel industry has revealed that the rates of many travel insurance companies skyrocket in the over 50s category. With this being the case, many experts are advising travellers in this age bracket to consider opting for single trip travel insurance rather than an annual policy, in order to compare variable quotes.
A Growing Travel Demographic
A recent survey revealed that the over 50s demographic account for more than half of the UK’s travel and tourism expenditure. With pension regulations set to change later in the year, experts predict the over 50s will become an even more dominant travel demographic as they gain easier access to their pension.
However, with the over 50s having some of the highest pre-existing medical condition statistics, many travellers in this age range are left struggling to find insurance with comprehensive cover for a reasonable price. Single trip travel insurance has proved to be a big money saver for this age group, with insurers able to take into account the type of holiday the traveller is embarking on (which can have a big influence on the price).
Experts advise the over 50s to consider carefully where they choose to travel, as rates can differ depending on each country they visit. This is often a direct reflection of the costs of medical care within that country, so it is also wise for travellers to secure the (free) EHIC card to augment their single trip travel insurance policy.
A spokesperson for respected online travel insurance company, InsureMore, commented, “It’s a shame that the over 50s are often penalised by some insurers when they make up such a large portion of travel and tourist expenditure. It’s something we definitely don’t believe in doing.”
Tourism and travel experts suggest anyone over 50 should throw their net wide when doing their research and consider online companies like InsureMore who can often provide more bespoke solutions.
Insuremore provide a range of low-cost travel insurance policies for the B2C market, including single-trip, multi-trip and family insurance. Contact them at http://insuremore.co.uk/
For Media Contact:
InsureMore Travel Insurance
Axiom House, The Centre
Feltham, Middlesex, TW13 4AU
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