Just had my renewal through…

To encourage me to renew they have offered lots of great new benefits like volcano cover (I shit you not) and a whopping £500 additional baggage cover (it was £3,000 – I am not sure how many valuables I need for two weeks in the Med) but with very specific exclusions to anything COVID related (unless it is for a trip booked prior to March then they ‘may’ cover it depending on the terms of the original contract).

Ohh, and they quite literally DOUBLED the price.

Chancers! (and cancelled immediately).

There are a great number of us that have claimed against our policies and got a payout as we’d booked accommodation we then couldn’t use. Insurance companies were always going to want the money back but from us! Also, we will not be EU members for the whole of the next 12 months so things will potentially be far more expensive (although I’m unclear on the terms of what we will have instead).

Everyone’s travel insurance will increase next year. Two big reasons. I’m sure you’re aware of both.

Edit: Toby has spelt it out.

Save many money.

Don’t travel. Saves on insurance. Saves on travel

Saves being subjected to this pish and saves being exposed to Corona virus which hasn’t actually gone away yet.

Many savings.

Folk rushing to travel abroad will be the first ones greeting when they find them selves In hospital facing a nice large bill that the insurance won’t foot – looking towards the gov to foot the bill no doubt.

Chancers

I’m generally no apologist for insurance companies, however, it’s reasonable to assume the risk of travelling has dramatically increased in the last 12 months.

Pretty much everyone i know has claimed refunds back from accommodation providers and airlines, not via their insurance.

Ah. That’s a point.

Had booked a holiday to Canada this summer.

I currently have credit notes from the Canadian airlines involved. I was tempted to redeem them for flights in June 2021…. but presumably that would count as having been ‘booked’ post March 2020, and not covered for any covid related cancellations?

Looking at the state of North America right now, I’m not 100% confident that holidays to that continent will be a goer, even in 12 months time…

Pretty much everyone i know has claimed refunds back from accommodation providers and airlines, not via their insurance.

And where did that money come from? Was it in Easy Jet’s bank account so you think it their insurance etc?

Also, we will not be EU members for the whole of the next 12 months so things will potentially be far more expensive (although I’m unclear on the terms of what we will have instead).

indeed. I think those are still to be negotiated.

Obviously, we hold all the cards and it will be the easiest negotiation in history. But it’s still TBC…

I’m generally no apologist for insurance companies, however, it’s reasonable to assume the risk of travelling has dramatically increased in the last 12 months.

But they have specifically excluded any COVID related claims so what other risks have increased?

But they have specifically excluded any COVID related claims so what other risks have increased?

They have paid out a lot in this round, they will up the stakes to cover themselves against the next thing!

Obviously, we hold all the cards and it will be the easiest negotiation in history. But it’s still TBC…

Oven-ready in fact!

I can understand an increase in premiums, but to specifically exclude one of the major concerns for most people travelling in the next couple of year is beyond cheeky.

Time to hit the comparison sites?

Here is the exact wording of the new exclusions…

From your renewal date, your policy will not cover 1) any claims caused by or relating to Coronavirus (COVID-19), Severe Acute Respiratory Syndrome Coronavirus (SARS-COV2), any mutation/variation of these, or any claims relating to any fear or threat concerning these viruses (this general exclusion applies to all sections of cover); 2) any claims relating to Third Party Supplier Insolvency and Scheduled Airline Failure (these sections of the policy have been removed).

I will renew my policy just before we plan on travelling again – which isn’t going to be in the near future anyway!

Insurance companies are reluctant to insure against something that is happening, rather than may happen.

My annual travel insurance is included as part of my bank account. I guess they will (a) exclude Covid etc and possibly (b) increase the account charge. TBH, that’ll likely see me close that account.

lots of great new benefits like volcano cover (I shit you not)

Tricky now. Trying to plan ski trip next year but there’s a high risk things could go wrong if there’s a second wave or whatever. My annual insurance might cover it but renewal in in Feb so have to go before then as renewal certainly won’t.

Not sure it’s worth the risk going anyway, especially as want to do US and things are just getting worse there.

Covid issues will be excluded as it’s a known problem at the moment, so insurers won’t cover it. I suspect, if you already have annual insurance, and now book something within the period of cover, you’ll find Covid excluded too (new bookings).

From your renewal date, your policy will not cover 1) any claims caused by or relating to Coronavirus (COVID-19), Severe Acute Respiratory Syndrome Coronavirus (SARS-COV2), any mutation/variation of these, or any claims relating to any fear or threat concerning these viruses (this general exclusion applies to all sections of cover); 2) any claims relating to Third Party Supplier Insolvency and Scheduled Airline Failure (these sections of the policy have been removed).

So – legal bods – 2 questions

claims arising from being unable to travel due to government avice against travelling. Excluded or not?

Is the above relating to cancellation refund costs, or is it also excluding medical cover should you contract the disease abroad?

lots of great new benefits like volcano cover (I shit you not)

You mean like that Icelandic volcano that disrupted a load of folks travel plans a few years ago?

Insurance companies are reluctant to insure against something that is happening, rather than may happen.

That’s fine, I get that bit but doesn’t excuse doubling the cost from last year as they have specifically excluded insuring against it.

however, it’s reasonable to assume the risk of travelling

I believe it’s the risk of NOT travelling that has risen. Insurance is just a convenient way of informing you about relative risks, where price = risk. Treat it as such.

claims arising from being unable to travel due to government avice against travelling. Excluded or not?

Is the above relating to cancellation refund costs, or is it also excluding medical cover should you contract the disease abroad

on point one, depends on your policy and when trip was booked. most policies will pay for cancellation if trip booked pre-covid and cancelled due to FCO to not travel (the FCO non travel is the trigger for the policy) if you book a trip after the FCO advice came out, most policies won’t cover you for anything as its a specific exclusion in pretty much all policies

point two -its excluding any claim related to covd 19 – travel cancellation, medical costs the full works.

all new travel policies, and pretty mcuh any insurance polciy you buy for the next few years, will have covid 19 exclusions. it is a known risk where the likely occurrence is not fortuitous – ie we’re in the middle of a pandemic, your pretty much nailed on the have a covid related loss / claim

That’s fine, I get that bit but doesn’t excuse doubling the cost from last year as they have specifically excluded insuring against it.

If a business lost a load of money because of some massive unforeseen global event and needs to make it back to survive as a business what do you think they should do?
Clue – increase premiums

If you don’t want to pay either travel without insurance or don’t travel. Up to you.

If you don’t want to pay either travel without insurance or don’t travel. Up to you.

Third option:
Check the market and purchase when I do decide to travel again. I flatly refuse to believe that the pandemic has increased costs to insurance companies to such an extent that they have to double policy fees. It would be interesting to know just what impact it actually has had on them in terms of payouts as a direct result of COVID.

I flatly refuse to believe that the pandemic has increased costs to insurance companies to such an extent that they have to double policy fees.

based on similar real world evidence to some of trumps claims or just a story you made up you choose to believe ?

based on similar real world evidence to some of trumps claims or just a story you made up you choose to believe ?

You have lost me, sorry.

do you have any evidence to support your claim or are you just believing in fairy tails because that suits ?

the facts are all in the thread – industry loses millions

industry seeks to claim back via future policies

and your quote is evidence that its trying to claim back its losses via future policies

ive not seen any evidence that the industry didnt lose millions

@trial-rat. I am sure you know that it was a figure of speech and nothing to do with Trump (a very weird claim) or a made up story and as such I am happy to stand corrected if every travel insurance policy has to be doubled (would they come back down again once the insurance companies have made their losses back) to mitigate costs to insurance companies but right now I am not in a position whereby I can accept a 100% increase in cost to me with an additional absolute exclusion of any cover against the new risk.

And which thread are you referring to?

Ok, I personally paid ~£80 for last years policy and claimed back ~£800 on accommodation. I may be one of a subset of people, but even if I am 1 in 10, that still hurts their figures and they will try and reclaim that from renewing or new policy customers. They are covering themselves against future losses and billing mugs like us for the recent payouts.

I’d also imagine most of their accounts are public so if you really wanted to you could see the impact on their margins. I suspect they will make back more than they lost of course so agree with you there.

It sucks, but it’s the world we built.

on point one, depends on your policy and when trip was booked. most policies will pay for cancellation if trip booked pre-covid and cancelled due to FCO to not travel (the FCO non travel is the trigger for the policy)

For what it’s worth, my yellow Jersey policy won’t and supposedly most if not all covered by the same underwriter (Allianz) won’t. It would need disruption to travel cover not cancellation cover, (and its an optional extra they don’t offer)

If my flights etc are cancelled it kicks in. My choosing not to travel (inline with fco *advice*) isn’t covered, only if I’m prevented from travelling or already abroad when the advice is put in place.

[edit: obviously traveling against advice voids my cover – damned if you do, damned if you don’t]

but right now I am not in a position whereby I can accept a 100% increase in cost to me with an additional absolute exclusion of any cover against the new risk.

Lots of people won’t be able to afford the increased premiums for next year… it’s not just you OP. That doesn’t change the fact that they have two big events to factor into prices… losses this year due to the pandemic, and (huge) expect increased costs due to Brexit next year.

this thread

I am not in a position whereby I can accept a 100% increase in cost to me with an additional absolute exclusion of any cover against the new risk.

then you have to ask your self – can you actually accept the cost to travel.

I have had to talk the wife down from we need a holiday with the – do you really think that travel right now is wise regardless of the gov stance on it – they are just appeasing the masses.

look the other way – if you come down with it abroad , and given that no policy in their right mind will cover that exposure right now – are you prepared to sell your house to cover the costs ?

what a wierd claim

what the claim that he makes statements that are not based on fact ? good comparison if you ask me.

I’m surprised it’s only doubled. It’ll be interesting to see how the travel industry as a whole deals with it. I’m not sure I’ll be travelling unless medical bills can be covered. I’m happy to self insure for cancellation and maybe even repatriation, but medical is a different level of cost completely. At least we have EHIC cover for Europe. #bloodygammons

I can understand an increase in premiums, but to specifically exclude one of the major concerns for most people travelling in the next couple of year is beyond cheeky.

Insurers generally won’t insure things they can’t afford to pay out on – things like terrorism, and now Covid

but medical is a different level of cost completely. At least we have EHIC cover for Europ

and even EHIC only covers certain things.

a family members 2 nights in an induced coma in a french hospital after a vehicle collision was eye watering.

wouldnt like to see the bill for ventilation and certain medication.

i’m sure its a reasonably low risk but the stakes are high risk matrix says no.

Auto-renewal is always the most expensive way to buy insurance, it comes with a huge Apathy Tax. It was the case 30 years ago when I bought my first* car insurance policy and it’s still the case today. I’m genuinely amazed that anyone is still surprised by it.

(* – well, second)

and even EHIC only covers certain things.

AIUI, the EHIC (usually?) gives you the same benefits as afforded to the locals. Which of course will vary between countries.

Daft point but, along side the above mentioned B word, there’s likely to be a lot of risk regarding scheduled airline failure over the next few years which will bump cost for the insurance companies.

Equally for my peneth worth, I’d strongly suggest making sure your insurance covers it as a lot don’t.

AIUI, the EHIC (usually?) gives you the same benefits as afforded to the locals

indeed , alot of people seem to think reciprocal means you get the care you’d get at home.