8 August 2013
More than a third of people going on holiday this year do not intend to take out holiday insurance, according to new research for Nationwide Building Society¹.
According to the survey, 35% said they do not intend to take out holiday insurance. Of those people with cover, buying directly from traditional avenues such as an insurance provider or the holiday company, are not so popular. Many people tend to take advantage of offers from banks or building societies – 32% said that their holiday insurance is available as part of their current account.
Nationwide is the only high street provider to offer free European travel insurance for main current account customers², through the FlexAccount, which can be upgraded to cover worldwide travel for a small charge. Nationwide’s packaged current account with a monthly fee of £10, FlexPlus, offers further benefits, such as worldwide travel insurance and emergency card assistance. This is available for the whole family and covers travel disruption from weather events, natural disaster or airline failure and offers expenses cover for delays of more than six hours. Cash withdrawals are also free while abroad for FlexPlus customers.
Phil Smith, Nationwide’s head of current accounts, said: “It’s extremely worrying that some people going on holiday this year will have no holiday insurance, particularly when it’s now so easy to pick up – you may even be able to obtain it through your current account provider. The level of travel cover that we offer our main FlexAccount and FlexPlus customers is among the best in the market and provides those heading off on holiday, at home or abroad, with peace of mind knowing that they will be protected if difficulties arise.
“Not only does our FlexPlus account provide a whole host of travel benefits, for those travelling by car either at home or abroad to their holiday destination, it also includes UK and European breakdown cover.”
It is not only the FlexAccount and FlexPlus accounts that offer great deals for travellers. Nationwide’s Select Credit Card³, which is available exclusively to customers with a Nationwide main current account – FlexPlus, FlexDirect and FlexAccount – offers unlimited commission free purchases abroad, 15.9% APR representative.
Notes to editors:
1All figures, unless otherwise stated, are from Atomik Research. The total sample size was 1,008 adults. Fieldwork was undertaken between 21 – 26 June 2013. The survey was carried out online. These figures have been weighted and are representative of all UK adults (aged 18+).
2To qualify for European travel insurance you must:
- Be a permanent resident of the UK
- Be aged 16-73
- Hold a Visa debit card (not cash card or cash card+) and either:
- Switch all your Direct Debits and standing orders to us from another bank or building society to your FlexAccount, using our Account Transfer Service – backed by our Account Transfer Promise; or
- Pay in at least £750 per month into your FlexAccount for at least 3 consecutive months (excluding internal transfers)
- Eligibility will be assessed when the account transfer is complete or at the end of the month, when you have deposited £750 or more
To maintain cover you must:
- Continue to hold a Visa debit card (not cash card or cash card+)
- Pay in at least £750 into your account per month (excluding internal transfers), and
- Remain a UK resident
The European travel insurance offered with the FlexAccount is underwritten by UKI.
Maximum trip limit of 31 days applies. Pre-existing medical conditions must be disclosed.
To upgrade from European to worldwide cover, a fee of £20 will be charged.
FlexPlus Key Information
Full information can be found here
FlexPlus is open to new and existing customers aged 18 years and over. Single and joint account options available. FlexPlus can be opened and operated online, by telephone and in branch.
FlexPlus has a £10 per month fee
Exclusions and limitations apply to all FlexPlus insurance products
Worldwide travel insurance – provided by UK Insurance Limited
- Family, winter sports, golf, business and wedding cover is included as standard
- Family members include: the account holder, their partner/spouse and dependant children who live at the same address as the account holder(s). To be covered any dependant children must not have reached the age of 19 (or 22 if in full time education) and be neither married nor in a civil partnership
- Protection if holiday is impacted by severe weather conditions
- Unrestricted cover is available to all customers irrespective of age. For account holders aged 75 years or over, an annual premium of £50 is payable per account
- Trips must start and end in the UK. Trips in the UK must be more than 25 miles from your home and be longer than two nights in duration
- The cover has been independently rated 5 star by Defaqto
- Existing medical conditions are not covered
Worldwide card emergency assistance – provided by Lifestyle Services Group
- If a customer’s cards are lost or stolen, one call will notify all issuers and order replacement cards
Breakdown cover – provided by Britannia Rescue and underwritten by Liverpool Victoria Insurance Company Limited
- Customers are protected while driving in Europe as well as the UK
- Personal cover protecting customer regardless of which vehicle they are in
- Vehicle cover - Protection to anyone driving the account holders vehicle with permission
- Home assistance, home transfer and relay cover included as standard
- The cover has been independently rated 5 star by Defaqto
3Qualifying conditions vary by offer and terms and conditions apply. Credit cards are only available to those aged 18 or over and availability of credit cards depends on circumstances. For more information on Nationwide credit cards visit: http://www.nationwide.co.uk/creditcard/default.htm
To be eligible for a Nationwide Select Credit Card, account holders must either:
- Hold a FlexAccount with a Visa debit card (not cash card or cash card+) and:
- Have been paying in £750+ a month (excluding internal transfers) for the last three months; or
- Complete an account transfer to us (from a non-Nationwide account) using our Account Transfer Service or have done so in the last 4 months; or
- Hold a FlexDirect or FlexPlus account.
For cashback, you must maintain a main current account relationship with us.
About Nationwide Building Society
Nationwide is the world's largest building society as well as one of the largest
providers and a top-three provider of
mortgages in the UK. It is also a major provider of
Nationwide has around 15 million members.
Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 15,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.