Extortionate Premiums

Silversinker

OK, I have medical conditions and would expect to pay over the odds for travel insurance.  However, the premiums being quoted are, at best, immoral.
I diligently answer all the questions as I am aware that even the slightest error could invalidate a policy. However, it seems that there is no credit given for the fact that there have been no further occurrences in several years.  As an example, I had a TIA 10 years ago and a pacemaker 3 years ago.  Since then, I have had no issues related to either procedure, but the questionaire do not ask how long ago these procedures were.  Why not?  If there are no ongoing medical reviews/interventions, surely, premiums should be decreasing?
Using both comparison sites and direct with insurers, I have had quotes for 10 days in Mexico, ranging from £400 to £8270.39.  How can this be justified?

heatherw_01

The price doesn't decrease because you haven't had any issues related to the conditions, as the cost for medical care doesn't decrease because of that.
They charge for risk assessment. i.e what the cost would be to cover you IF anything happened while travelling.

If you needed medical care overseas, there would be a bill and that is what they would be paying to cover. That bill doesn't decrease because you have had no issues.

Even being very stable, you could still have an issue while travelling and the medical care cost would need paying.

I know it is expensive, I too have lots of conditions and many chronic illnesses.

daveyjp

£400 may be typical, over £8k means they probably don't want to insure you, but give a price as to some the £8k policy may meet their needs and its what they are happy and able to pay.

itsthelittlethings

I don’t think £400 is that bad for 10 days in Mexico?

Pollycat

Silversinker said:

OK, I have medical conditions and would expect to pay over the odds for travel insurance.  However, the premiums being quoted are, at best, immoral.
I diligently answer all the questions as I am aware that even the slightest error could invalidate a policy. However, it seems that there is no credit given for the fact that there have been no further occurrences in several years.  As an example, I had a TIA 10 years ago and a pacemaker 3 years ago.  Since then, I have had no issues related to either procedure, but the questionaire do not ask how long ago these procedures were.  Why not?  If there are no ongoing medical reviews/interventions, surely, premiums should be decreasing?
Using both comparison sites and direct with insurers, I have had quotes for 10 days in Mexico, ranging from £400 to £8270.39.  How can this be justified?

Is the cover exactly the same for all quotes?
Do you object to paying £400 for 10 days in Mexico?
If you don't - and the cover on the £400 quote is acceptable to you - the £8K quote is irrelevant.
Insurance companies don't have to justify their prices.

My travel insurance increased when I hit 70 years old.
I'm fit and healthy with no medical conditions.
They didn't have to justify their price.

user1977

Go on comparison sites for motor or home insurance and at the bottom of the list you'll get silly prices for those too. It means they don't really want to cover your demographic. Or are you saying the £400 quotes are also extortionate?

TELLIT01

£400 for cover including pre-existing medical conditions for a holiday in Mexico sounds dirt cheap, and if certain it does provide the required cover I would grab it.

sheramber

Inaurance companies assess the risk that you could have a recurrance of a medical problem. 

twopenny

If a fit and healthy person falls down some steps the most likely would be grazes or at worst, a broken bone.
If you fall down some steps it could affect your pacemaker. Have to adjust or examine other conditions.
The cost between the two and time to accommodate over there before flying allowed would be substantial.

silvercar

I agree that it sometimes makes no sense. OP is now less at risk of a heart attack as they have a pacemaker than they were before it was fitted.

Pollycat

This sounds more suitable to this board:
Praise, vent & warnings — MoneySavingExpert Forum
than holiday insurance.