Nationwide Flex Plus et al...uber-cheap worldwide travel insurance by the back door??

My_name_is_not_Guinevere

So, say you're going on a holiday abroad for a week or two, or a month.

You need travel insurance (Or at least it would be very wise to get it).

There won't be any skiing involved.

If you have a Nationwide Flex Account that you pay £750 into each month you're covered for free. But say you wanted to go to Uruguay or Uganda, Cameroon or The Comoros.

You'd need to get world single trip cover - and a quick comparative search suggests the cheapest deal you'd be looking at might be around £50. (But don't take my word for it, go compare, as it were.)

BUT...WOULD THIS WORK...?

Open a Nationwide Flex Plus Account (You'd have to pass the credit check). Or indeed any so-called packaged current account that provides worldwide travel insurance cover as part of the deal and doesn't commit you to paying the monthly subscription fee for a fixed length of time.

Then, for £10, you'd be covered for the next month. When you get back from holiday, close the account, or change it to a different Nationwide one, or whichever other banks there are that do a similar deal.

Just make sure that the account doesn't require you to sign up for a year beforehand, as I spotted one that did, but rang Nationwide and they advised that wasn't the case for them. (Albeit I don't have that in writing.)

But that's why I'm putting it out here...have I just discovered a way of cutting single trip cover by over 75%...or have I missed a trick, if you get what I mean...?

Do advise!!

rb10

Yes, your plan would work.

However, you need to have travel insurance in place from when you book your flight tickets / accommodation / other package, so in reality you'd need the FlexPlus for longer than just one month (unless you book really last-minute).

Since it's one of the cheapest packaged accounts though, the other benefits (breakdown cover etc) may make it worth while despite this.

roddydogs

Isnt The Flex ac cover Europe only?

Gizmo247

roddydogs wrote: »

Isnt The Flex ac cover Europe only?

True but the OP goes on the say one should open a FlexPlus account to get worldwide cover.

This approach should work although I would hope only once.

Maybe Nationwide should consider enforcing an account switch for new accounts.

Chorlie

Or phone up the Flex Account Insurance number and ask for the cost to upgrade it to Worldwide Cover, I asked and it was £10 for the year....(without Winter Sports or any Medical Issues)....but this was 4yrs ago so this may of changed or been removed due to the FlexPlus Account.

My_name_is_not_Guinevere

@Chorlie - yes, I tried this just now and they say it is now £20 for the year - so £10 more expensive than 4 years ago but still a very good deal compared to anyone else, and probably worth it considering the hassle of my original proposal.

harbrimar

The insurance may be free but one way or another they will try to get money from you. After paying an extra premium and taking out the worldwide cover I later complied with the the small print and informed them of a couple of trips to the doctor; a boil and to have my prostate checked out (routine check). My prostate was enlarged (I'm over 60) and was benign. Another trip to the doctor for Phlebitis (now fully resolved) and again I told UK Insurance. They wanted another £40 to cover me for Phlebitis and I declined to pay and understood that I would not be covered for this complaint. However, a couple of days later I got a letter informing me that as I declined cover for Phlebitis they would not cover the Boil or enlarged Prostate either (this was certainly not made clear to me at the time I declined the Phlebitis cover).

Having spoken to them on the phone they said that if I paid the £40 they would include cover for all three complaints; all or nothing. Personally, I think this is underhand and smacks of extortion! Although the illnesses are unlikely to cause me any problems it could have been different and many other people may be swayed into paying the extra.

marathonic

How about this one for customers who haven't had a Nationwide account to date:

• Open Quidco Account;
• Apply for FlexDirect Account through http://www.quidco.com/nationwide-flexdirect-current-account/
• Get £70 cash reward from Quidco (although this wouldn't be paid for about 2-3 months)
• Buy travel insurance
• Pocket the change from the £70
• Get 5% interest on credit balances up to £2,500 or else an interest free overdraft for a year with the account

Jennifer_Jane

Also note that if you get your current account, you have to wait 3 months before they send you your travel insurance.