MSE News: Nationwide scraps travel insurance perk

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Former_MSE_Rosie
Former_MSE_Rosie Posts: 105 Forumite
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Nationwide will become the latest current account provider to axe a key switching incentive, MoneySavingExpert.com can reveal...
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'Nationwide scraps travel insurance perk'
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  • Pincher
    Pincher Posts: 6,552 Forumite
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    I wanted to add Wintersport, and the premium they quoted made it pointless.

    It might even create problems, if I claim on a standalone policy, and they ask whether I have other cover.
  • amsquared
    amsquared Posts: 2,329 Forumite
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    I extended the cover to worldwide earlier this year by providing details of existing medical conditions to their insurance underwriters. For myself (age 67) and my wife (age 61) with several medical conditions declared the additional annual premium for worldwide cover was only £160. My quote from L&V for the same cover and medical conditions was £460 so this perk is worth £300/annum to us. I haven't signed a form for additional cover this was all done over the phone and I have the extended cover certificate. Do I still need to sign a form for the free part of the insurance? I think I need to phone them to check.
    Best Comp wins in 25 years of comping. Holidays to Hawaii, Toronto, Thailand twice, Dubai twice, Cyprus, Spain, Lake District, Glasgow and London. A couple of £1000 wins as vouchers. 2 Dimplex Fires. Baby cot and chest of drawers. £500 of blinds. Shibumi Jacket. Various small cash prizes under £500 and shopping vouchers. Cosmetics & weedkiller!
  • Yorkshire_Pud
    Yorkshire_Pud Posts: 1,860 Forumite
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    At least those who already have the travel insurance on their Nationwide account can continue with it.

    In the future watch out for a restriction from 'Europe' to Margate;)
  • blindman
    blindman Posts: 5,659 Forumite
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    I have always extended the cover to include Worldwide.

    Used to cost £20 for two of us (IIRC) now cost £40.00

    Still good value.

    I have never filled out any medical cert forms though.

    Is this a new requirement?
  • EarthBoy
    EarthBoy Posts: 3,046 Forumite
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    Nationwide says the axing of free travel insurance for new customers was planned before August's base rate reduction and is because fewer than 10% of its FlexAccount customers actually activate the free insurance. It says it is nothing to do with that base rate cut.

    Where does this business of activating the free travel insurance come from? Isn't it automatic if you meet the conditions? I don't remember ever returning any forms to activate the free insurance, yet Nationwide send me a letter every September telling me that the insurance has been renewed for another 12 months.
  • KTF
    KTF Posts: 4,820 Forumite
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    I have never 'activated' it either. Each year another certificate arrives on the mat to say its been extended again.
  • Vortigern
    Vortigern Posts: 3,247 Forumite
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    blindman wrote: »
    I have never filled out any medical cert forms though.

    Is this a new requirement?
    It's not new. You need to declare any pre-existing conditions each year. You do not need to fill in forms to say you have no such conditions.
  • blindman
    blindman Posts: 5,659 Forumite
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    Vortigern wrote: »
    It's not new. You need to declare any pre-existing conditions each year. You do not need to fill in forms to say you have no such conditions.

    Fine

    I've never activated it either, always get the letter saying I'm covered for another year.
  • Yorkshire_Pud
    Yorkshire_Pud Posts: 1,860 Forumite
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    edited 5 December 2016 at 3:26PM
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    I had to activate mine at the start by returning a form a few years ago. Then on each anniversary I just get a renewal letter that I don't need to react to, just file.

    Every time I opened a FlexAccount I got another travel insurance invitation which I didn't take up already having it, but I haven't got several policies!

    Medical conditions, if any, just need to be declared before any travel where the insurance will be used, then Nationwide can load the premium to cover those conditions or exclude pre-existing medical conditions.
  • amsquared
    amsquared Posts: 2,329 Forumite
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    amsquared wrote: »
    I extended the cover to worldwide earlier this year by providing details of existing medical conditions to their insurance underwriters. For myself (age 67) and my wife (age 61) with several medical conditions declared the additional annual premium for worldwide cover was only £160. My quote from L&V for the same cover and medical conditions was £460 so this perk is worth £300/annum to us. I haven't signed a form for additional cover this was all done over the phone and I have the extended cover certificate. Do I still need to sign a form for the free part of the insurance? I think I need to phone them to check.

    I have just phoned them and spoke to Uk Insurance since I declared medical conditions in June 1016 I am covered worldwide. They will issue a renewal for the upgrade in June. So the European insurance is valid until end of 2017 but worldwide upgrade only until June. As a policy holder since 2010 I have nothing to sign. I just have to keep them informed of any changes to medical conditions.
    Best Comp wins in 25 years of comping. Holidays to Hawaii, Toronto, Thailand twice, Dubai twice, Cyprus, Spain, Lake District, Glasgow and London. A couple of £1000 wins as vouchers. 2 Dimplex Fires. Baby cot and chest of drawers. £500 of blinds. Shibumi Jacket. Various small cash prizes under £500 and shopping vouchers. Cosmetics & weedkiller!
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