Travel Insurance Prices Set to Rise
Tom Volpe
September 21, 2010
Tags: Travel insurance
Travel insurance experts P J Hayman warned yesterday that travellers should prepare for record increases in insurance costs by the New Year, they also predict that it will be harder for older people and those with a pre-existing medical condition to find cover. We have seen a drop in insurance premiums over the last 3 years, but this is soon to be a thing of the past. Quoted in Travel Mole, Peter Hayman said “Rate increases of 20+% are not untypical"
"These changes will take some time to filter through to the public. Many will coincide with the increase in insurance premium tax on travel insurance from 17.5% to 20% on January 4."
This makes now a great time to buy your travel insurance if you are already planning a big trip for next year, don’t hold off and watch the prices increase. It is also a great time to look to buy annual cover for any winter breaks that you have planned, and to cover next year’s holidays.
Remember to compare insurance carefully before making a final decision.
