The two health conditions which could see your travel insurance premium soar by more than 1,000 per cent
Holidaymakers could find their travel insurance premiums soar by more than 1,000 per cent if they declare a certain two conditions, research from consumer website Which? reveals.
Telling an insurer about a pre-existing health condition typically more than doubles the price of an annual travel insurance policy, hiking the cost from £40 to £90, according to comparison website Go.Compare.
But individuals with bipolar and personality disorder could be forced to pay as much as £446 more when declaring their conditions – a 1,159 per cent hike on their original quote.
Which? compared quotes before and after declaring pre-existing medical conditions for three real people.
The quotes were compared across 12 well-known insurance providers, seven of which were standard insurers while five were companies that specialise in cover for pre-existing conditions.
The prices were compared for individuals with bipolar and personality disorder, epilepsy and diabetes – and the cheapest European annual policy was selected for all quotes.
The average premium soared from £58 to £426 for the traveller with bi-polar and personality disorder – a 715 per cent surge – with the most expensive policy coming in at £715 and the cheapest costing £184.
In the most extreme case the cost surged from £38.48 to £484.52.
However, premiums climbed an average of just 23 per cent when the holidaygoer with epilepsy declared their condition. Providers added an average of just £10 to the cost, with premiums rising from £67 to £77.
But it’s worth shopping around as the cheapest quote was just £52 while the most expensive was more than double this at £110.
The traveller with diabetes saw the smallest increase in price as quotes rose just 6 per cent on average – from £129 to £136 – when they declared their condition.
The cheapest came in at £76 while the most expensive cost £169.
Insurance specialists at medical screening firms Protecif and Verisk said the stability of a condition is often key to insurers, including when it was diagnosed, ongoing treatment and the side effects.
Sam Richardson, deputy editor of Which? Money, said: ‘Though it may be tempting to omit a condition in order to get the price down, it’s never worth the risk. Failing to declare something in advance could see your policy invalidated.
‘While comparison sites are a great starting point, these won’t always include specialist providers – so it’s essential to obtain these quotes separately before making a purchase.’
link
