Going on Holiday with Grandparents? Watch Out for Travel Insurance Hikes
If you still have plans to squeeze in a holiday to Spain this summer, one of your first concerns is probably to make sure you have adequate travel insurance cover to protect you against any COVID-related cancellations.
Insurance has leapt up everyone’s priority list as a result of the pandemic. This makes it a good time to review some of the key considerations around finding the right travel cover, especially if you are travelling with elderly relatives.
Going on holiday with grandparents makes your trip a real family affair - and it can certainly help mum and dad find some more time to relax by sharing your childcare responsibilities. But particularly if you are travelling with people aged 70-plus in your party, care needs to be taken over travel insurance.
Don’t be put off
Whereas most businesses are not allowed to do anything which could be taken as discriminating against someone because of their age, this rule doesn’t apply to insurance companies. Put simply, providers argue that older travellers represent a higher risk of making a claim. They are therefore allowed to charge more for travel insurance policies the older a person gets.
This has led to angry claims that insurance firms are taking advantage of older travellers by imposing price hikes which put many off going abroad at all. On the other hand, some companies will simply refuse to offer travel insurance to anyone over a certain age.
If you are travelling as a family with grandparents, watch out for how this might affect a group insurance policy. Family travel insurance generally works out cheaper than buying individual cover for everyone in your party. However, if you are heading abroad with anyone over 70, this might not be the case. The elderly person surcharge will be applied to the full price.
In this situation, you could be better off buying a family policy for everyone aged under 70 in your group, and then look for individual cover for grandparents. Look out for providers who specialise in travel insurance for older people. Not only do they offer the best rates, they are less likely to impose age restrictions on their policies, and often also specialise in cover for people with pre-existing medical conditions, if that applies. And don’t forget to check the cancellation cover!
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