Red Pennant - loading premium for over 70's
We are in our 80's - in 2018 our premium was approx. £239. This year it was increased to £644 because, we were informed, the underwriters did not like to insure members aged over 70. Increased risks due to age are understandable but, in reality, there are some members under 70 who have greater health problems than those into their 80's.
Bearing this in mind, although a Red Pennant operator did not wish to discuss it, I suggested the following alternative: For those of us over 70, retain the higher premium, but split it into two parts. Taking the above figures as an example, make the £239 a fixed basic charge, and the remaining £405 a form of bond - being refundable where no claim is made, and forfeited in the event of a claim.
For ourselves, the £644 was only accepted because we had already committed ourselves to the ferry charges and paid the deposit on our French campsite. Considering that it cost us a total of around £1,200 just to land, a very good holiday can be had at a UK quality touring site for this sort of figure.
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A neat suggestion, but I fear it might not fly.
if you are willing to divide your insurance requirements then European breakdown/recovery is easy to obtain, regardless of age and without drastically increased premiums. Look at Eurobreakdown, QDOS, Brittania Rescue, and GreenFlag EuroPlus among others.
Health and Medical cover is a bigger problem for someone your age, but the MoneySavingExpert website gives some clues of companies willing to cover older people - and you can try HolidaySafe, Staysure, GoodtoGo and Age Concern as well but much will depend on your medical history.
Allow a full day to trawl through them and get quotes.
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Mmm, whoever heard of an insurance company giving a refund in the event of there not being a claim?
It’s an attractive proposition but, unfortunately, not the way insurance works.
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Did the club change their underwriters that this has only just come in? If so surely they should change again to protect their older members' interests.
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What was the subtle change David ?
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There are many things we take for granted today, but which were hard-fought for in the past. Unlike some countries, UK people are not very good at voting with their feet, making it a Mecca for the likes of insurers and such. The Club would not be happy to risk a massive loss in membership, and the insurers would not like losing the thousands of "safe bet" policies that are sold every year.
And to the younger members I would remind them that they will one day meet the same financially harsh rulings. Also, when the insurers have 'brainwashed' members to accept current financial screw, what other pocket-raiding ideas do they plan for the future?
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Cover for those over 80 is available elsewhere and if the clubs underwriters will not accept them then the club with its massive premium potential could easily move the business to one who will. Sounds like they are letting the members down.
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I'm of the same opinion as Wildwood. The club has a huge membership base and should be looking after all of its members interests. The same apllies to all of the other insurance sectors, particularly motor insurance.
They are simply not making the most from their strong bargaining position.
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I agree with many of the comments above. I am a strong supporter of the Club but I think they are doing the over 80's a big disservice on travel insurance. I will be looking elsewhere next year when I turn 80
I would like to give the Club my business but not at the premiums I was quoted earlier this year for a "dummy" over 80's policy
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Was the change that the Club now underwrite Red Pennant themselves. I hadn't realised this until I looked at the annual report for 2018 where they have put aside £9.2 million of profits for what I interpretted as being potential claims over the life of policies?
peedee
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thanks David. That does sound like a really odd change, why on earth does the length of the trip home matter.....
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Last year we were booked in for 3 weeks at Sandringham. A few days before going, we cancelled in favour of an adults-only site in Cornwall - hard standing, fully serviced pitch, and £100 cheaper for the same 3 week stay. With our French holiday still being a major part of the year, our trend will be to continue finding decent campsites that are cheaper than the CAMC in order to maximise savings towards the French holiday. This could become a logical approach for an increasing number of members as time goes by, particularly with the £ now being weak against the Euro.
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Not sure why anybody would use RP for travel insurance since they effectively sub-contract it. My experience of the Club on insurance is that the only want the “safe” business.
We always have annual multi-trip worldwide travel insurance as we have other types of holidays as well as the motorhome. Also, motorhome insurers usually throw in European breakdown cover either for free or at costs much lower than RP.
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But people like RP because of its inclusive nature, one policy to cover all eventualities. At least with RP you know that both sides of the insurance will be seamless which might not be the case when you have separate policies. Some of course will be willing to hedge their bets and take out the two elements separately but many won't. In extreme circumstances (which probably increase with age) you have to ask how, if one partner was incapacitated by a serious incident how would the other partner cope? OK so there are many strong people out there that would not be knocked back by such a problem but I suspect there are many more where it would be and in a real crisis and they might be thankful for the support of an organisation such as Red Pennant?
David
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I guess it is convenient, especially if it is your only type of overseas holiday. For car and caravan the European breakdown is worthwhile but for a motorhome it is a very expensive way of insuring for breakdown and recovery. The quotes I had for motorhome insurance either included annual European cover or it was available at a moderate add-on price.
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I also used to use it untill the price went through the roof for a larger motorhome. I now do the same as B&B, annual multi trip medical insurance and shop around for breakdown. Currently the latter is part of my vehicle insurance with Comfort.
B&B not so sure the Club contracts it out, they now act as priciple rather than agent but to which insurance it applies, vehicle, RP or both I have no idea?
peedee
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Our policy with RP this year was £545 for 45 nights because I am now 80. We travelled 2,250 total miles from home to various destinations in France the furthest away being 600 miles from the port. Returning home safely, thankfully, without any incidents. Our friends, younger than us, paid around £200 for RP and are currently delayed in France by a week awaiting a breakdown truck from England to bring a car so that they can tow the caravan home, and to transport their own vehicle home as it was going to be difficult to put right in France. The reason for this post is to demonstrate that anyone might need RP, it doesn’t have to be for illness, so why penalise the over 80’s. We have been caravanning abroad on and off for 38 years and have used RP twice for parts for the caravan to be sent out. The service has been without fault as it is with our friends at the moment. Sadly we have decided we will no longer travel abroad with the caravan, the cost of insurance is too much.
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Well shame on the "club". Obviously not looking after all of their members.
I bet you've taken out RP every time you've ventured abroad and how do they repay you? By pricing you out of touring abroad. Those people in the insurance department must be proud, eh?
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A bit like having to have a medical at 70 to keep your C1 driving licence! I don't know of any medical insurance that doesn't load the premium once you reach 80. My current annual multi trip health insurance expires once I reach 80 I will then have to shop around for cover.
pèedee
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Pufball are those figures just for the motoring cover or motoring & personal ? interested to know if the motoring only cover gets loaded at age 80.
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A few weeks ago I got a quote for Personal only, self 72, wife 69, 93 days in Spain. £540. Unbelievable.
I've had another look today and its gone down to £474 for personal. I got a quote to include Motoring & Personal and it was £303 or £517 for the Plus version. Very odd.
Personal from the other club was £142. I'll go with them as I have done for the past few years.
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The excess for us (ages 70 & 74, some health conditions) with Nationwide Flexplus was £180 this year. Remember this is worldwide. I would prefer it if we could downgrade to EU only as we probably won't make any more trips to the USA but it seems a reasonable premium to me - especially with the associated breakdown cover.
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