Travel Insurance and Missed Flights. These Conditions Can Skyrocket Your Premium.
Planning your next getaway? Crucial research from consumer champion Which? reveals a shocking truth: declaring certain pre-existing medical conditions can cause your travel insurance costs to explode, potentially by more than 1,000%.
While disclosing any pre-existing condition typically more than doubles the price of an annual policy (jumping from around $50 to $113 on average, according to Go.Compare, the impact is devastatingly severe for travellers with bipolar disorder and other so-called personality disorders.
The Staggering Cost of Disclosure:
Which? analysed quotes for three real individuals across 12 insurers 7 were standard and 5 were specialists, before and after declaring conditions, focusing on the cheapest annual policy available:
Bipolar & Personality Disorder:
- Average premium soared 715%, from $73 to $533.
- The most extreme case saw a 1,159% increase – a jump from $48 to $606
- Cheapest post-disclosure quote: $230
- Most expensive post-disclosure quote: $894
- Epilepsy:
- Average increase was a far lower 23%, rising from $84 to $96.
- Cheapest post-disclosure quote: $65
- Most expensive post-disclosure quote: $138
- Diabetes:
- Saw the smallest average increase at just 6%, rising from $161 to $170.
- Cheapest post-disclosure quote: $95
- Most expensive post-disclosure quote: $211
Why the Huge Variation?
Insurance specialists explain that insurers heavily weigh the stability of a condition. Factors include:
When it was diagnosed, Ongoing treatment plans, Severity and management, Potential side effects.
Sam Richardson, Deputy Editor of Which? Money, issues a critical reminder: “Though it may be tempting to omit a condition in order to get the price down, it’s never worth the risk. Failing to declare something in advance could see your policy invalidated – leaving you without cover and facing massive costs if something goes wrong.”
Smart Shopping is Essential:
Richardson adds: “While comparison sites are a great starting point, these won’t always include specialist providers – so it’s essential to obtain these quotes separately before making a purchase.”
The Bottom Line for Holidaymakers:
- Always declare pre-existing medical conditions honestly.
- Be prepared for significant premium hikes, especially for mental health conditions like bipolar and personality disorder.
- Shop extensively: Use comparison sites AND get direct quotes from specialist insurers covering pre-existing conditions.
- The stability and management of your condition are key factors for insurers.
Don’t let unexpected insurance costs derail your dream holiday. Research thoroughly and disclose fully to ensure you have the protection you need.
