This Surprising Condition Can Skyrocket Your Travel Insurance Premium by Over 1,100%!

Those with
health
Issues will be distressingly familiar when customers face additional charges.
travel insurance
—and new findings highlight exactly how significant the additional amount is.

According to data from GoCompare, customers who declare pre-existing medical concerns typically pay more than double for annual
holiday cover
, averaging the premium from £40 to £90.

However, in the latest
Which? study
, specific conditions led to an increase in the price of a
single trip policy
up to 1,159% more

To investigate the issue, the consumer champion sought insurance quotes from 12 well-known providers for three real people: a 67-year-old with type 2
diabetes
, a 40-year-old with
epilepsy
, and a 41-year-old individual with
bipolar and personality disorder
who had experienced an unexpected hospitalization within the past half-decade.

For each scenario, Which? chose the most affordable European yearly plan offering £5 million in medical coverage, £2,000 for cancellation costs, and £1,500 for luggage including device protection. They compared the pricing both prior to and following the disclosure of their health statuses.

For the traveler dealing with both bipolar disorder and a personality disorder, five major insurance providers denied coverage outright, which left only seven suitable policy options available.

The highest increase seen was with one insurer where premiums soared by a staggering 1,159%, rising from £38.48 to £484.52 following disclosure of their pre-existing conditions. Overall though, the hikes continue to be quite alarming, averaging around 715%, jumping from approximately £58 to about £426.

However, there is a bit of good news. Despite declaring both bipolar and personality disorders, there remained a significant £531 gap between the priciest and cheapest policies, indicating potential savings can still be found by comparing different options. Moreover, since the lowest quote (£184) originated from a specialized insurance provider, it pays off to look beyond standard comparison websites when dealing with intricate health issues.

Following the declaration of the second case study’s epilepsy, their premiums increased by approximately 23%, rising from £67 to £77. The quotes varied significantly, with the lowest being £52 and some as high as over twice that amount at £110.

The traveler who has diabetes noticed only minor fluctuations, with prices increasing by an average of 6%, moving from £129 to £136. Nevertheless, Which? discovered considerable disparities among the different quotes provided. It turned out to be more cost-effective for this individual to opt for mainstream insurance providers rather than those specializing in medical coverage.

When the watchdog spoke to insurance specialists at medical screening firms Protectif and Verisk, neither identified particular conditions as being particularly ‘tricky’ to insure, but they did note that the stability of a condition (from time after diagnosis to ongoing treatment) is often key.

In February, a Which? survey involving 9,000 British individuals revealed that 82% of participants who disclosed a health issue reported an effect on their insurance premium costs. Additionally, 25% stated they experienced a significant impact due to this factor. One participant commented that ‘affordable premiums are hard to come by,’ while another expressed that getting reasonable coverage seemed nearly unattainable.

Sam Richardson, the Deputy Editor at Which? Money, remarks: ‘
Travel insurance is crucial.
When heading off on vacation, securing the ideal insurance policy at a reasonable cost can be quite challenging—particularly if you have an existing health condition.

‘Our study revealed considerable differences in pricing across various insurers, highlighting the importance for customers to explore and contrast numerous policies prior to reaching a decision. Although comparison websites serve as an excellent beginning, they may not encompass all niche providers; therefore, it’s crucial to seek out individual quotations from specialists before finalizing your choice.’

Although it might be enticing to skip a condition to reduce the cost, it’s not worth the gamble. Neglecting to disclose information beforehand can lead to your policy being voided, and in extreme scenarios, result in bills amounting to thousands of pounds.

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ChinPaoLifestyleTeam@ChinPao.co.uk
.

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