Not So Free Travel Insurance

DavidKlyne
DavidKlyne Club Member Posts: 13,860 ✭✭✭
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edited January 2016 in General Chat #1

Every year we get a letter from Nationwide telling us that we have free travel insurance with them for up to 31 days European Cover. The proviso being that health conditions have to be checked which is understandable and there could be an addition fee. We
are thinking of going on a cruise later in the year so need cover for just over a week. I rang them and went through our various conditions and hey presto an additional charge of £252 which is hardly free in my book!!! Interestingly I then went onto the Age
UK insurance website and found they would charge virtually the same for annual cover. Fortunately we don't pay a monthly fee to get the supposedly "free" travel insurance but I would be even more miffed if we had!!!

David

Comments

  • Bakers2
    Bakers2 Forum Participant Posts: 8,195 ✭✭✭
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    edited January 2016 #2

    In view of our up and coming trip to NZ we converted our joint Nationwide account to FlexPlus, £10 per month but few cash withdrawals overseas.  Fee saved on first withdrawal
    Laughing.  Plus we shall be back out there again in June for the birth of our second grandchild, timing a surprise to our daughter too
    Embarassed so looking to save as much as possible.  Also swopping to their Select credit card commission free purchases overseas
    Laughing.  It comes with 'free' travel insurance and sincw we have cover for our first trip, OH decided single trip policy grrrrr. 
    Pleasantly surprised when I telephoned the insurers out of interest at this stage, that one medication is within the terms of the policy and so long as no regular prescriptions, heart or cancer in last 12 months no increase.  OH hasn't taken his meds for over
    a year Surprised.  The extentension to however many days  requested lasts for 12 months too for a one off fee, which when I asked about
    120 was just over £120 which I didn't think was bad.  It also 'gives' breakdown cover which we don't need but it is with the same company we use, and extended warranties on electrical items.  Have to say swopping credit card is not proving simple
    Yell but paperwork finally arrived today and they may arrive before we leave the country
    Sealed.  I have a Select credit card so we'll manage if they don't. 

    Sorry last bit off topic, but for once somethng 'free' works in our favour.  But last time we wanted to increase from Europe cover it was so pricey we bought a year's cover elsewhere.

  • DavidKlyne
    DavidKlyne Club Member Posts: 13,860 ✭✭✭
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    edited January 2016 #3

    Fortunately we don't pay a monthly fee to have either of our bank accounts and if this experience is anything to go by I certainly won't in the future unless I have no choice. I shall save my money and buy my own insurance!!! Interesting to add that Red Pennant was £90 cheaper last year for 31 days cover and that was for motoring as well as personal cover. 

    I might well write to Nationwide!

    David

  • Bakers2
    Bakers2 Forum Participant Posts: 8,195 ✭✭✭
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    edited January 2016 #4

    Ordinarilly I wouldn't pay for a bank account unless forced too.  However the FlexPlus costs us less than it would actually do for withdrawing £500 cash in one go abroad, so in effect a saving; whilst we are 'often' in NZ and certainly if we stay within
    the 31 day limit the insurance is good too. The other add ons will be ok too but hte breakdown cover will have to be fully read and digested before I cancel our current paid for one, even if it is with the same provider.  Tha account also gives us access to
    a regular saver that pays 5% on up to £500 saved monthly, so another benefit. 

    Because interest rates are soooo poor I've spent a long time sorting out accounts as our fixed term savings earning more than 4% end next month.  We have effectively swopped our Santander 123 current account to use an existing NW joint account that was rarely
    used saved for paying credit card, which in it's time was free to use abroad and the debit card didn't attract such high fees for withdrawlas overseas - all changed now
    Sad.  Anyway as even with the monthly charges the 123 account pays the best interest for instant access, in fact we now have one each as well. 
    We have just upgraded to FlexPlus because of overseas travel, it will be reconsidered once we have had our two
    Surprised trips to NZ this year.

     

  • Fisherman
    Fisherman Forum Participant Posts: 2,367
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    edited January 2016 #5

    No such thing as a free lunch.

  • Tammygirl
    Tammygirl Club Member Posts: 7,957 ✭✭✭
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    edited January 2016 #6

    We bank with Nationwide and have for about 30 years still just have the original Flex account current account, did look at upgrading to the plus account but decided we didn't need it. The FREE European insurance works well for us as neither has medical issues,
    when we went on a Panama cruise for 2 weeks it only cost us £20 to cover worlwide, we think that was very good value.

  • Bakers2
    Bakers2 Forum Participant Posts: 8,195 ✭✭✭
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    edited January 2016 #7

    Have to agree Tammygirl, haven't bothered to upgrade from the Flex account until now.  Like you we had European cover, but don't get over the channel much these days
    Sad.  I think with all these things it is horses for courses.  Certainly for us at the present time FlexPlus offers a good deal, if this is not
    the case at a later date it will be reviewed again.

  • DavidKlyne
    DavidKlyne Club Member Posts: 13,860 ✭✭✭
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    edited January 2016 #8

    It is the medical bit that pushes the prices up. I was even refused by one well know insurer!!! Fortunately Age UK came to the rescue again with a reasonable quote. Its strange how insurance works. Those with the recognised problems which are well controlled by medication and have regular check ups suffer but those that might be walking timebombs in terms of unknown medical problems pay nothing extra!!!

    David

  • Tammygirl
    Tammygirl Club Member Posts: 7,957 ✭✭✭
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    edited January 2016 #9

    You are right there David, watched a programme on TV where people who take statins are charged more for their insurance, yet as they point out there are the least likely to have problems because they are on them, while others who are not could have but pay
    less.

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