Traditionally, silver haired vacationers purchased travel insurance at the peril of their travel agent when booking their holiday. Unbeknown that this could be costing them up to 50% more than purchasing the same level of cover directly with an insurer!
In recent years, baby boomers embraced the power of knowledge and these savvy seniors have been redefining how the over 60s and 70's book their travel insurance. Seniors today are more active, financially independent, and keen to travel. And insurers have come to the party by increasing maximum age limits and in some cases providing specialist senior friendly policies.
But which seniors policy is best?
Whether you're a seasoned traveller or planning a trip of a life time, if you want to find the right policy, you need to consider how you travel and what your cover requirements are.
Savings can be made: Be it a coach tour, Carribbean cruise, mountaineering in the wilderness or a trip to simply visit the grandkids, significant savings can be made by comparing policies online. The simplest way to find great value seniors travel insurance is to do some research through a comparison website like ours to compare levels of cover along with quotes. When comparing policies look for a high level of cover for cancellation and lost deposit fees. Especially if you have pre-booked a package deal or tour where there is greater financial loss at risk should circumstances make it impossible to travel.
Pre-existing medical conditions: Arguably, the most important cover benefit for seniors to compare is medical treatment. Medical cover is vital for travellers of any age to avoid expensive overseas medical bills and out-of-pocket expenses during an emergency should the unexpected happen. In order to get the right cover, you must let your insurance provider know of any pre-existing medical conditions that you have. If you fail to do this you may be left facing a massive medical bill when you try to make a claim.
High value items: Travel insurance companies have different 'caps' on how much they pay out for a claim. So if you're travelling with valuable items such as high end cameras, it is worth comparing the itemised cap on personal items under luggage and personal effects.
Grandkids travel for free: Some travel insurance providers also provide cover for dependents for free, so if you're travelling with children or grandchildren check whether they can be added under your policy.
Age limits apply: Some insurers are more "senior friendly" than others. For example, 1Cover provides cover for all ages, with no upper age limit on single trips. So whether you’re in your 60s, 70s, 80s, 90s or beyond there’s a policy for you. On the other hand Tower only cover up until the age of 65. We've made life a little easier and highlighted the age limits of New Zealand's well known travel insurers for you right here...
Here's the age limits of New Zealand's most popular insurers. NOTE: This does not refer to age restrictions in regards to family members! The following table explains at what age you can purchase a policy up until.
|Insurer||Single trip age limits||Multi trip age limits||Underwriter|
|1Cover||No age limit||Under 64||Certain Underwriters of Lloyds|
|AA Travel||Under 70||Under 70||Allianz Australia Insurance Limited|
|American Express||Under 80||Under 65||Allianz Australia Insurance Limited|
|Columbus Direct||Under 84||Under 69||Certain Underwriters of Lloyds|
|Covermore||Under 84||Under 79||Great Lakes Reinsurance|
|DUinsure||No age limit||Under 65||Allianz Australia Insurance Limited|
|Hot of Travel||Under 70||N/A||Allianz Australia Insurance Limited|
|NZ Travel Insurance||Under 71||Under 70||Allianz Australia Insurance Limited|
|Southern Cross||No age limit||No age limit||Southern Cross|
|State||No age limit||No age limit||IAG Insurance limited|
|TID||Under 81||Under 75||Certain Underwriters of Lloyds|
|Tower||Under 65||Under 65||Tower Insurance limited|
|The Warehouse||No age limit||IAG Insurance limited|
|Worldcare||Under 70||Under 70||Allianz Australia Insurance Limited|
|Webjet||75||75||Allianz Australia Insurance Limited|
The insurers offer unlimited 24/7 overseas emergency medical assistance and unlimited overseas medical treatment in the event of an emergency.
Be sure to read the PDS to understand what is and is not covered by your chosen policy prior to purchase. Make sure you declare any pre-existing medical conditions to ensure you have adequate cover. And don't forget to consult your physician on any medications required during your journey along with immunisations and vaccinations that may be required.
Seniors Travel Insurance Summary
- Assess your travel insurance needs
- Shop around by comparing policies
- Read the fine print
- Disclose any pre-existing medical conditions
- Have fun and enjoy your holiday
Use our website to compare seniors travel insurance, to help you find the best policy for your holiday. Get cover for pre-existing medical conditions and more! For heaps more handy information see our guide to seniors travel insurance.