Nationwide Flexplus Insurances

harz99

I recently had the invite letter from Aviva to renew my Nationwide Flexplus additional travel insurance policy upgrade, the quote was for around £110 more than last year, making the cost of running the FP account around £550 for the next 12 months.

My reason for maintaining the FP account has always been for the worldwide travel insurance, with the vehicle breakdown cover useful to have, and the phone cover immaterial as we don't run flash or expensive phones.

We have decided to suspend (abandon) worldwide travel and stick to the UK for the next few years as we approach our 80th year, so instead of renewing my upgrade I took out a separate UK only policy with Aviva, declaring all my ailments and paid around £225 with the September 20% discount offer applied. When my car insurance renewal comes up in October I'll include breakdown cover or just buy an AA or similar standalone policy, so around £250 in total, instead of £550.

Next job will be to downgrade the FP account before the end of this month to avoid the ongoing £18 monthly fee...

Exodi

I think you mean Aviva - you can downgrade the account quickly and easily online, no day like the present.

It also comes with FX, but nothing a Wise card can't do for a one off £7 (other travel cards exist).

Also, you should check GreenFlag, we found it's was half the price of the likes of AA/RAC for basically the same offering.

Like you, we also made the decision this month (ours was even more ridiculous - our phones are usually bought used so likely would never have been covered by the insurance policy, my car is a company car so it would be just my wifes and I have travel insurance as part of being a director (including for personal travel covering my whole family)... and I have a wise card. It was £18 a month for nothing really for us.

I think we might have looked the other way, but the hike from £13 p/m to £18 p/m had left a sour taste in our mouths.

If you don't have a FlexDirect account, you also get a promotional 5% rate on balances up to £1.5k (I believe) which can be a nice little earner.

harz99

@Exodi thanks, I was in railway mode and have changed it, sadly we've both had an FD before so I won't benefit from the 5% interest, just the Fairer Share bonus (if they do that again next year).

Exodi

harz99 said:

@Exodi thanks, I was in railway mode and have changed it, sadly we've both had an FD before so I won't benefit from the 5% interest, just the Fairer Share bonus (if they do that again next year).

It was the same for me - sounds like you're making the right decision in any case!

luci

harz99 said:

@Exodi thanks, I was in railway mode and have changed it, sadly we've both had an FD before so I won't benefit from the 5% interest, just the Fairer Share bonus (if they do that again next year).

I shouldn't really post this, as I'm not 100% sure. It's a long time since I opened a FD account, but I seem to remember that you could open a joint one and get the interest, even if you'd previously had a sole account. May be worth checking just in case my memory isn't as bad as I think it is.

harz99

luci said:

harz99 said:

@Exodi thanks, I was in railway mode and have changed it, sadly we've both had an FD before so I won't benefit from the 5% interest, just the Fairer Share bonus (if they do that again next year).

I shouldn't really post this, as I'm not 100% sure. It's a long time since I opened a FD account, but I seem to remember that you could open a joint one and get the interest, even if you'd previously had a sole account. May be worth checking just in case my memory isn't as bad as I think it is.

Thanks, you could and we've already done that as well😁

luci

harz99 said:

luci said:

harz99 said:

@Exodi thanks, I was in railway mode and have changed it, sadly we've both had an FD before so I won't benefit from the 5% interest, just the Fairer Share bonus (if they do that again next year).

I shouldn't really post this, as I'm not 100% sure. It's a long time since I opened a FD account, but I seem to remember that you could open a joint one and get the interest, even if you'd previously had a sole account. May be worth checking just in case my memory isn't as bad as I think it is.

Thanks, you could and we've already done that as well😁

Sounds like you've maxxed out all the deals, which is not a bad thing.

woodyemm

I recently had the letter from Rock Insurance Services to renew our Medical Assessment for the Coop Worldwide Travel Insurance (with AXA).  Last year my husband's extra for his medical assessment was zero and mine was £36, this year with everything the same except we are both a year older (71 and 74) the cost has risen to £36 for my husband and £126 for mine, plus the monthly subscription increased from £15 initial cost to £18 part way through the last 12 months!  How they can increase the cost by over 350% is unbelievable but it just comes in less than buying a joint annual policy.  Neither of us has anything major wrong with us, but we have booked a holiday so need to get the insurance.  I want to be able to continue to go on cruises but at this rate we won't be able to afford to do so.

luci

woodyemm said:

I recently had the letter from Rock Insurance Services to renew our Medical Assessment for the Coop Worldwide Travel Insurance (with AXA).  Last year my husband's extra for his medical assessment was zero and mine was £36, this year with everything the same except we are both a year older (71 and 74) the cost has risen to £36 for my husband and £126 for mine, plus the monthly subscription increased from £15 initial cost to £18 part way through the last 12 months!  How they can increase the cost by over 350% is unbelievable but it just comes in less than buying a joint annual policy.  Neither of us has anything major wrong with us, but we have booked a holiday so need to get the insurance.  I want to be able to continue to go on cruises but at this rate we won't be able to afford to do so.

If it came in less than you can get it elsewhere, perhaps you have a good deal already. Insurance premiums do increase with age for all types of insurance,