For the sake of simplicity insurers place travellers in bands according to their age. Those under 60 typically fall into the lowest cost band.
Over 60 or 65 travellers can expect a blip in the price of their travel insurance, but the increase is usually small provided there are no other factors that might increase the cost of a policy, such as a pre-existing medical condition.
Where the cost of travel insurance heads into the stratosphere, or even becomes unavailable, is for the over-75 age group.
While insurers maintain that the pricing of their policies is based on actuarial analysis that determines that older travellers are more at risk, and therefore more likely to make a claim, there is also evidence to the contrary.
Among other findings from a study that compared the risk behaviours between those over and under 60 published in the Journal of Travel Medicine, those in the senior age group were more likely to faithfully follow an anti-malarial regimen and take an organised tour and less likely to eat street food and suffer from diarrhoea.
Evidence such as this suggests that older travellers are more risk-averse than younger ones, and therefore are the higher insurance premiums that they must pay really justified?
Travel insurance policies vary hugely in price and insurance websites make it easy to gather several quotes. One insurer that has a good reputation for its fair-minded policy for older travellers is InsureandGo.
Before you leave, get an instant travel insurance quote from our Traveller Insure tool.
