Why is travel insurance so inflexible on cost?

ShoestringBudget

I am trying to arrange travel insurance for my parents aged 77 and 69 for a long visit to India (70days).
They have a few pre-existing medical conditions but through good personal care and medication they manage really well - so they are generally very healthy.
Last year they also went to India for around 35 days - there was no issue with travel insurance - the cost was around £250 - everything declared.
This year with a longer trip I expected the cost to be somewhat higher but typically all the insurance seems to be around double that.
For me having cover is the most important - particularly medical - but I'm amazed that there is no way to reduce premiums by offering a flexible voluntary excess.

I would happily double the excess if I could reduce premiums substantially as the probability of a claim is quite small.

Furthermore, there doesn't seem to be flexibility on the component parts either - you just have to accept X for baggage, Y for curtailment, Z for cancellation.

Does anyone know of a travel insurer that will do this (premium/excess trade-off)?

Thanks

callum9999

ShoestringBudget wrote: »

I am trying to arrange travel insurance for my parents aged 77 and 69 for a long visit to India (70days).
They have a few pre-existing medical conditions but through good personal care and medication they manage really well - so they are generally very healthy.
Last year they also went to India for around 35 days - there was no issue with travel insurance - the cost was around £250 - everything declared.
This year with a longer trip I expected the cost to be somewhat higher but typically all the insurance seems to be around double that.
For me having cover is the most important - particularly medical - but I'm amazed that there is no way to reduce premiums by offering a flexible voluntary excess.

I would happily double the excess if I could reduce premiums substantially as the probability of a claim is quite small.

Furthermore, there doesn't seem to be flexibility on the component parts either - you just have to accept X for baggage, Y for curtailment, Z for cancellation.

Does anyone know of a travel insurer that will do this (premium/excess trade-off)?

Thanks

I think I'm lost? Why would you not expect a policy that's twice as long to cost twice as much?

dunstonh

Furthermore, there doesn't seem to be flexibility on the component parts either - you just have to accept X for baggage, Y for curtailment, Z for cancellation.

Having bundled pricing is cheaper for the majority. Its cheaper in administration and re-assurance. However, you can still get a tailored policy if you want. Although it probably wont be cheaper.

I would happily double the excess if I could reduce premiums substantially as the probability of a claim is quite small.

At their ages, the issue isnt really an insignificant excess. In your 20s or 30s it is baggage that is really the main cost. So, a hundred pound excess can make a difference. In your 60s and 70s, it is medical that ist he issue and a hundred pounds additional excess is nothing compared to medical costs.