Abacus Daily Debt News

Older people warned of travel insurance hikes

People over the age of 66 who wish to holiday in Europe have been warned they may face elevated travel insurance costs.

According to moneysupermarket.com, individuals in this age bracket are to be confronted with premiums 109 per cent greater than those aged 65 or under.

The hike relates to holidaymakers travelling within the continent with an annual multi-trip policy.

Such vacationers could see a further 24 per cent added to these costs when they reach 70, the website warned.

Bob Atkinson, travel expert at the portal, advised older tourists to “prepare themselves for the shock of being penalised for turning 66 and then 70″, regardless of their health.

He described the 109 per cent premium swell as “extreme” and stated using age to calculate prices is a “crude measure”.

Una Farrell, media relations manager for the Consumer Credit Counselling Service, recently recommended people planning an overseas getaway should fund their trip by saving, not borrowing.

By Amy White