Nationwide FlexPlus - Travel Insurance

NoodleDoodleMan

Looked at cancelling our joint Nationwide FlexPlus since they've announced travel insurance cost changes that are imminent.

If anybody on the policy is over 70 there will be an additional £65 per year added to the £13 monthly account fee - and cover will still end (no change) at 75.

The Co-op Bank offers broadly similar cover up to age 80 for a £15 monthly account fee - but if you have 4 Direct Debits taken you are eligible for a £4 monthly reward.

So, in effect you can have travel insurance for £132 to age 80 as things stand with the Co-op - as opposed to £221 from Nationwide to age 75, as of early next year.

Obviously for anybody below that age group the Nationwide remains the better deal.

Each includes other decent benefits like vehicle breakdown assistance and mobile 'phone insurance.

Roger1

Are you comparing bank accounts or insurance policies? There are other reasons for choosing a bank account.

Are you sure that Nationwide FlexPlus cover expires at age 75? I haven't got all the relevant info in front of me, but I would be surprised if cover didn't continue after 75, possibly with a surcharge.

I used to have the Co-Op Plus account (I don't remember the exact name) but gave it up when the boardroom scandals became public. Also, I prefer being a member of a mutual building society rather than a customer of a hedge fund-owned bank whose links with the Co-Op are at best tenuous.

AlexMac

Wow- how did they slip that past me? I have FlexPlus cover (with all the other benefits of FlexPlus) yet dodn't see any letters or online messages.

Still, there it is, buried several levels down on their website, at
https://www.nationwide.co.uk/support/support-articles/important-information/changes-to-travel-insurance-age-upgrade

So to answer Roger1's Q- the insurance didn't "expire" at 75 (just as I hope I won't), but you had to pay a £50 "age upgrade" at 75. From 3 Jan 2019, the upgrade age is 70 and the fee is £65 (pay attention at the back).

That's the bad news, but the good news is that if you have two of you insured on a joint account (as we do) , only one fee applies.

And the even better news (to quote their website) is their answer to their own Q
"What if I booked my holiday before 3 January 2019?
No matter when your holiday is going to take place, if you’ve booked before 3 January and you’re under 75 years old, you don’t need to do or pay anything."

Which is great, as we always book well early (e.g have already done one to catch Brittany Ferries recent 20% early booking discount on ferry/accomodation packages...) and can certainly now book a few late 2019 breaks before the year end- thus deferring the inevitable £65 outlay! And as it sounded too good to be true, I rang in and confirmed that latter point from one of their charming and efficient call-centre people

pollypenny

OH was 75 in March so we paid a pro rata fee for the rest of the year. I don't mind an extra £15. I hadn't realised that the one fee covered us both, as I am 71.

It's still an excellent account, costing us around £7 pm , allowing for the interest.

Roger1

pollypenny wrote: »

It's still an excellent account, costing us around £7 pm , allowing for the interest.

I agree 100%.

Non-believers should try to find equivalent cover elsewhere.

Oh, we have an excellent banking service included with our insurance.

pollypenny

Roger1 wrote: »

I agree 100%.

Non-believers should try to find equivalent cover elsewhere.

Oh, we have an excellent banking service included with our insurance.

Don't forget breakdown cover and mobile phone insurance, too.

NoodleDoodleMan

Are you comparing bank accounts or insurance policies?

Both.

We've had the Co-op Everday with Rewards for a year, no fee and the monthly £4 nice little earner, based on a minimum of four Direct Debits, for a year. Very good general current account, no issues, now upgraded to Everday Extra with Rewards.

I should have said at the start that the Nationwide "free" insurance, as about to be changed, ended at 75 unless you paid a surcharge, as AlexMac flagged up.

The Co-op deal with travel cover from 70 to 80 is effectively £132 per annum, whereas the Nationwide from 70 to 75 is £221.

Both these packaged accounts covers a couple for insurance.

hollie.weimeraner

Our holiday insurance used to be with the Co-Op from an old account but after a couple of health issues this year they wouldn't cover us. We hunted high and low for an affordable policy that covered both me and my wifes health issues but no-one would cover my wifes undiagnosed issue. I just tried Nationwide (Flex Plus)on the off chance and ran through their screening and was pleasantly surprised when they covered us both for a total of £200 which I considered to be reasonable.