Travel Insurance Ski

Insurers charge a premium when you take out your policy, which is dependent on several factors. Some of the common factors that can impact the cost of your insurance premium include:

Your age

The older you are, the more your travel insurance is likely to cost. Insurers see it as an important variable when assessing the price of your policy because the likelihood of injury and death increases with age. As such, those over the age of 60 tend to pay considerably more in their insurance premiums. Although you can be covered up to the age of 69 by some insurers, whether your policy is 

Your destination

Where you choose to spend your holiday can impact the price of your insurance premium. If you’re travelling to a country with expensive health care, you could be paying more upfront for your policy. For example, travelling to the United States to hit the slopes would likely incur a higher premium because the cost of healthcare is exorbitant compared to our system.

How long you’re abroad

Simply put, the longer your trip, the more you’ll pay for your insurance policy. Taking out travel insurance over a longer period means there’s a greater space of time where things can go awry, such as losing your belongings or having an accident.

Your excess

Any time you have to make a claim, you’ll need to pay an excess. Opting to pay a greater gap will drop the price of your premium simply because you’re offering to stump up more of your own money if you have to claim against your insurance.

Any pre-existing conditions

Some insurers have a list of pre-existing conditions which they can cover in either their basic or comprehensive policies (subject to meeting other qualification criteria). For example, some of these companies may offer cover for conditions such as asthma, graves’ disease, sleep apnoea or glaucoma automatically in certain situations. However, there are other, more serious conditions which may be excluded, such as cancer or heart conditions, so it's important to compare offers thoroughly if it's important to find one which offers cover where you need it.

Your level of cover

Consider the type of trip you’re taking and the coverage you’ll need on it, as this will help you narrow down the type of insurance best suited to your needs. Basic coverage is generally cheaper than comprehensive insurance, but typically offers fewer benefits and lower claim limits. 

How many people are being insured

Some travel insurance companies may allow you to include up to 25 travellers on the same policy (provided they meet the terms and conditions set by your insurer). As such, it may be cheaper in some cases to take out a group policy than purchasing individual insurance for each member of your group. However, it's important to determine what is and isn't covered under your policy before you buy.