More than a third of those aged over 60 (37%) take a new insurance policy each time they travel, resulting in them having to go through the difficulty of arranging cover every time they go on holiday. Around a quarter (24%) possess standalone multi-trip cover.
However, while there is only slight fluctuation between age groups taking single and multi-trip travel insurance, the survey shows that those aged between 60 and 64 are twice as likely to have a packaged account offering travel insurance than those aged 75 and above (20% vs 10%). This could be because many policies will not cover beyond the age of 70 years of age (see table in Notes to Editor).
Phil Smith, Nationwide’s Head of Current Accounts, said: “September is an extremely popular time for older travellers to enjoy a cheap and peaceful break outside of the school holiday season. But it appears many are willing to go on holiday without insurance due to their age, their medical history or because they feel it’s just too expensive.
As one of the few current account providers that allow customers to upgrade their travel insurance from the age of 75 and over, we would always recommend looking around for a provider that is willing to cover you at an affordable price.”
The Nationwide FlexAccount offers free UK and European multi-trip travel insurance to eligible customers. The FlexPlus current account offers a range of benefits for just £10 a month, including worldwide travel insurance for customers and their family, with winter sports, golf, business and wedding cover as standard6. Holidaymakers are covered whether they are travelling abroad or in the UK7.