Annual Holiday Insurance - wow !

[BeaLola]

Yes I am being U but excuse me for venting here - our annual holiday insurance renewal just arrived - usually for worldwide for DH, Me & DS12 it's around £105 - renewal is for£465

Wow - Coronavirus effect kicking in already!

Can you open an account with the Halifax?

There is a small monthly fee, (Think it’s about £17), but then you get travel insurance, mobile phone insurance, breakdown cover & emergency home cover.

I tried to beat the price a little while ago & got nowhere near.

Travel insurance is for world wide family cover.

I bought an a single trip policy during the week. I got a quote at lunchtime, looked at it again about 6 hours later to actually pick which quote to go for and it had increased by £6! Within the space of 6 hours!

It's fair enough that the insurance companies want to protect themselves against big losses.

I too am basking in the glow of trying to organise travel insurance..oh what fun it is! Last year I paid 40 quid for a single trip fro 3 of us...today I can get same cover with an added corvid 19 add on for the bargain price of .....256!!! Over a barrel they appear to have me and I never begrudge anyone for making a quid or two when they can but bloody hell ....

They have stopped all new business in the light of the virus .May be as well to wait if you can and renew if things improve

They dont want to insure you. Hence the big price.

The underwriters will have put their prices up so insurance companies will have to cover the additional costs.

No-one will gain anything if all the insurance companies go into liquidation. Anyone booking travel now should only be for emergencies, not holidays!

Ours has always been about that price for world wide and ski cover for four of us.

Like a PP I'd consider upgrading your bank account. Worth it for the travel insurance and breakdown cover

Are the bank travel insurance policies as comprehensive as other policies?

Of course premiums will be going up, just think how many claims they are dealing with?

I hate to be the bearer of bad news but...

You do all realise that no one is going anywhere after the next few weeks don’t you? The world is literally shutting down, countries locking up their borders with many many more to come.

The last thing you’ll be needing is travel insurance. I’ll also say how selfish it is to consider travelling now potentially becoming a burden on another countries health system should you fall sick.

I've had bank travel insurance for years and it's been good whenever a claim needed. Also covered pregnancy. The RAC cover also high end courtesy car etc.

Of course it’s going to go up, I’m surprised many are still offer cover given the amount of claims there will be.

I’d have like to have seen a travel ban, it’s unfair to put burdens on others health system and risk to people for a holiday.

Try having an underlying health condition- that's cheap!₩

Was looking at single cover insurance yesterday it went from £77 in the morning to £150 by evening

If you're thinking of virus cancellation it hardly matters since most will no longer cover this anyway. They're not so much trying to avoid paying out for you as clawing back some of what those who were already insured will cost them

I renewed ours in the middle of last week. Annual for 5 of us (2 with pre existing medical conditions which also happen to be the underlying conditions for CV). It was £500 +

2 of us have a holiday booked. Just got an email this this morning saying they will cover booked holidays if FCO advice is not to travel but will not cover new bookings in those circumstances. The company have also stopped offering Travel Insurance at all

I have an annual policy which is due to expire in July. It covers epidemics /quarantine /coronavirus so will cover the trips I already have booked for March and June. Thanks to Virgin getting rid of change fees I am able to reschedule the March one to later in the year. Until my insurance expires I will have cover. Once it expires I will either need to renew the annual policy, or take out a single trip policy. I haven't dared check how much either of those might cost. It will be rather annoying if it costs a fortune, as I am not choosing to book a "new" holiday, this is trip i booked last June way before COVID-19, that I now need to move, and will need insurance for.

I am very much hoping the FCO ban travel to the country I was going to, so I can cancel completely and get a full refund and then rebook next year or the year after for a date of my choosing, when hopefully things have settled and insurance is not quite so extortionate.

I wouldn’t be booking travel at the moment anyway. It probably won’t be long before all non essential travel is advised against.

Wow, I'd kill for annual worldwide that cheap, just for me! Cheapest quote I could find, before all the COVID 19, was £1600!

I took insurance out in February for a trip in May but excluded pre existing conditions so I could afford it. At least I will be covered when my trip is cancelled. Currently the country I am going to has suspended all visas, so you can't even get in.

I'm sure I heard one of the advisers on one of the travel info call ins saying that many insurers have altered their T&C's just this week to exclude CV related claims or have made it harder for you to claim. Make sure you read all of the small print if you take out insurance now.

@leiaskye those packaged insurances are usually fairly rubbish with very low cover. Be careful before relying on them.

There's also every chance that some will follow their well worn path of refusing to pay out even when we're theoretically covered, citing "unprecedented circumstances" or some such phrase

I recall this happening after the chaos of the Icelandic ash cloud, and while ombudsmen and class actions forced them to pay in the end, it's worth remembering that the ombudsmen may be absolutely swamped this time

The underwriters will have put their prices up so insurance companies will have to cover the additional costs.

But what about all the years/decades when they have been on the "winning" side of that bet and trousered millions in profits?

They are in the business of gambling - they gamble that the majority of customers will pay up and ever claim. They win/we lose most of the time; and we accept the cost of our premium is the non-refundable stake.

Yet now it comes to them potentially losing, they can change the rules to favour themselves?