As summer approaches, many Britons are eagerly planning their holidays. However, for those with pre-existing medical conditions, securing travel insurance can be a daunting task, fraught with increased costs and potential pitfalls. Failing to disclose relevant health issues can lead to invalidated policies, leaving travellers exposed to substantial medical bills abroad.
The Rising Costs of Coverage for Older Travellers
For retirees like Bernie Lawrence, 77, the challenge of obtaining affordable travel insurance has become increasingly pronounced. Lawrence, from Fleet, Hampshire, experienced a drastic spike in his insurance premiums following a diagnosis of heart problems. Once accustomed to annual travel insurance policies for Europe priced under £100, he faced quotes exceeding £1,000 in recent years.
Lawrence’s journey began with a heart surgery in 2018, after which he encountered significant hurdles in finding affordable coverage. After undergoing a quadruple bypass, he received a shocking quote of £1,200 for insurance, which dropped to £584 only after he paid for a private echocardiogram to confirm his condition had stabilised. This stark reality reflects a growing trend among older travellers, who are often perceived as high-risk by insurance companies, facing premiums that can feel exploitative.
The Risks of Skipping Insurance
A recent survey by AllClear indicates that approximately 18% of Britons with pre-existing medical conditions are considering travelling abroad this summer without insurance. This decision poses significant risks, particularly given the potential for exorbitant medical expenses abroad. For instance, a medical emergency in the United States can lead to bills that reach hundreds of thousands of pounds, underscoring the importance of comprehensive travel insurance.
James Daley, founder of Fairer Finance, emphasises the vital role of insurance, noting that travellers must ensure their policies cover their specific health conditions. “If you end up having a medical emergency in the US without insurance, the costs can run into the tens and even hundreds of thousands of pounds,” he warns.
Finding Appropriate Coverage
When seeking travel insurance, it is essential for individuals with pre-existing conditions to disclose all relevant medical history during the application process. Insurers typically ask about medical issues within a specified timeframe—often five years—but this can vary. In some cases, if a condition has been resolved and no treatment has occurred since, disclosure may not be necessary.
For those struggling to find suitable policies through traditional channels, specialist insurers like Medical Travel Compared and PayingTooMuch offer tailored coverage options. Additionally, broker services provided by the British Insurance Brokers’ Association can help navigate the complexities of securing insurance that meets specific health needs.
Tommy Lloyd, managing director of Medical Travel Compared, advises that, when possible, the entire travelling party should be covered under the same policy. This approach not only simplifies the claims process but also ensures consistent protection for all members of the group in case of cancellations or medical emergencies.
Understanding the Impact of Health Conditions on Premiums
The financial implications of pre-existing health conditions on travel insurance premiums vary widely. Common issues like anxiety or asthma may add only a few pounds to a policy, while more serious conditions like angina or a history of heart attacks can substantially inflate costs. For example, a traveller with a history of heart problems could see premiums rise by approximately 50%.
The Financial Conduct Authority has introduced measures to improve access to insurance for those with pre-existing conditions, requiring insurers to refer customers to specialist companies if traditional options are prohibitively expensive. This regulatory change aims to foster a more inclusive insurance landscape.
Ian Wardle, 68, from Essex, faced an overwhelming quote of £6,000 for travel insurance following his non-Hodgkin lymphoma diagnosis. Despite being in remission, he struggled to justify such high premiums for a trip to the US to visit family. Eventually, he found affordable coverage through AllClear Travel Insurance, highlighting the importance of seeking help and being thorough when shopping for policies.
Why it Matters
The landscape of travel insurance is increasingly challenging for those with pre-existing conditions, as highlighted by the experiences of Lawrence and Wardle. With many travellers opting to forgo coverage, the risks of facing significant medical expenses abroad are rising. This situation underscores the need for greater awareness and education around travel insurance, particularly for vulnerable populations. As the summer holiday season approaches, ensuring adequate insurance coverage is essential not only for financial protection but also for peace of mind while travelling.