Age discrimination from insurers highlighted by research

29/04/2009

Retired Brits are facing huge travel insurance premiums, Moneysupermarket.com has said.

Figures from the site show that people face a 106 per cent hike in the price of cover when they hit their 66th birthday.

This huge price rise is because insurers see older people as at higher risk of falling ill or suffering an accident while on holiday.

The report comes in the wake of the launch of the Equality Bill last week - which aims to put anti-age discrimination measures to the vote in parliament.

Moneysupermarket.com also identified a similar age-related insurance difference for youngsters.

Maxine Baker, travel insurance manager at moneysupermarket.com, said: "Brits turning 66 will be shocked to see an overnight hike in the cost of their travel insurance, with no further medical evidence to suggest they might be at higher risk.

"Now that the Equality Bill has sanctioned 'appropriate age-based treatment', it means some travellers will continue [to] find their premiums rise considerably on their 66th birthday. I had hoped to see a distinct shift in insurers' attitudes towards older travellers, but the new Bill just means insurers can continue to class older travellers as higher risk."

It also found that a 17-year-old male living in Lancaster pays three times as much for his car insurance than an 18-year-old male neighbour.

Tags; Advice on Travel Costs, Retirement Money Problems,

Regional Debt Advice; Debt Advice Lancaster,

• Share
• 
• 
• Store
• 
• Follow
•