Travel Insurance

Jeanieevie · 18 March 2018 at 10:33PM

I had a Platinum Bank account with Lloyds, which incurred a monthly fee, and included Travel Insurance.
As I have declared medical conditions, I have had to pay an additional premium of around £90.00 for the past several years.
My account was then switched to TSB (not of my asking) but continued at the same branch.
On renewing my travel insurance this time, and declaring the EXACT SAME Medical Conditions, I was told NO EXTRA FEE !!
Have I been overpaying for the last six years!

BorisThomson · 18 March 2018 at 10:40PM

Different policies will have different rules of pre existing conditions, prices can vary significantly. The product you had before may have been poor value (or their rules changed in the meantime), but that isn't a reason to claim misselling. You were always free to get quotes elsewhere, did you do this?

elsien · 18 March 2018 at 10:40PM

Different bank policies, obviously. Parent is with Lloyds and also pays extra for declared medical conditions.

newatc · 18 March 2018 at 11:23PM

Look on the bright side, you could be underpaying for the next umpteen years.

[Deleted User] · 19 March 2018 at 12:36PM

Jeanieevie wrote: »

Have I been overpaying for the last six years!

Probably, but you won't get any of that money back I'm afraid.

Have you carefully checked to see if this cheaper policy gives you the exact same level of cover and that there are no exclusions for pre-existing medical conditions?

If the cover is the same, it's as if you were paying a high tariff for gas or electricity for a number of years and then discovered it was cheaper from another supplier. No refund would be given by the original supplier.

The lesson? Shop around even for financial products.

Travel Insurance

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