There is perhaps nothing more refreshing than taking off on a trip that one has been postponing for a long time. That said, travel can be expensive. Additionally, any unexpected expenses only increase the total cost of the trip. That’s why any trip requires extensive financial planning. Seniors who are on a budget can especially benefit from planning ahead . A key part of the plan should be travel insurance , which reimburses travellers for unexpected expenses.

Purpose of travel insurance for seniors
Travel insurance is designed to cover any risks or financial losses one may face on a vacation. The loss could be caused by an inconvenience, such as luggage issues and flight delays or cancellations, or more serious issues, such as health emergencies. As seniors tend to be on a budget post-retirement and are particularly vulnerable to health issues, travel insurance is a great way to receive financial support in such situations . While many insurance companies offer travel insurance policies, looking for reputed ones with good ratings and affordable premiums is important.

Top travel insurance companies for seniors
1. Allianz
This renowned insurance company’s travel policies have garnered excellent average ratings from travellers. For example, its domestic travel policy has four-star ratings from over 3,000 customer reviewers. The best part about Allianz travel insurance plans is that they allow policyholders to customise the plan and add snow, cruise, or adventure coverage, as required. The company is also known for its comprehensive policies that cover all travel-related risks and losses, including lost and stolen belongings, rental car issues, etc. Also, since the policy has no age limit or excess for seniors, it is a preferred option amongst senior travellers in the country.

2. 1Cover
The travel insurance policies by 1Cover financially compensate policyholders, who can also be seniors well over 80. These policies cover various risks and losses, from pre-existing health conditions to car rental excess, thefts, injuries, credit card fraud and replacement, and flight misses or delays. The provider also offers coverage for any injuries or other issues faced when riding a motorcycle while travelling if one has an Australian driver’s licence. Also, the company’s coverage offered under the overseas emergency medical assistance policy is unlimited for frequent overseas travellers.

3. Medibank
This is another popular company for affordable travel insurance amongst seniors over the  age  of 50 up to their early 70s. Several of its travel insurance policies come with excellent user ratings. For example, its Travel Insurance Direct Domestic policy has received a rating of 4.1 stars from 23 customer reviewers. The company also has other domestic and international travel policies, covering aspects such as the cost of flight cancellation and delays, luggage loss or damage, health emergencies, rental car excess, and other unforeseen situations during travel. Also, the plans are quite cost-effective, making them highly suitable for seniors. With Medibank’s policies, one can opt for add-ons like ski and snow cover, motorcycle and moped cover, and cruise cover.

4. Cover-More
The policies offered by this company are varied and comprehensive, covering domestic and international travel. The policies provide financial relief for basic and specific expenses. So, they cover emergency dental costs, pet cat or dog boarding, travel services provider insolvency, amendments and cancellations, and health emergencies, including pregnancy-related complications. The company also offers cruise covers, adventure-activity packages, motorcycle or moped riding covers, and snow sports covers.

5. Travel Insurance Direct
TID is a preferred travel insurance company amongst seniors for several reasons. With its policies, travellers are covered for various kinds of emergencies and losses they may face while travelling.

• Stolen or lost luggage, including valuables like phones and cameras
• Illnesses and injuries during travel, including pre-existing conditions
• Personal liabilities
• Cancellation costs
• Rental vehicle insurance excess

Also, if one cannot return to the country due to an accidental injury suffered during the trip, one can seek coverage for temporary or permanent loss of income.

Tips to choose the right policy
1. Consider the type of vacation and destination
One may be travelling for various reasons— for adventure, work, visiting family members and friends, health purposes, etc. Based on the purpose of travel and destination, one should look for a policy that covers possible mishaps. For example, if one is headed to a snow-capped area, it’s best to opt for a ski and snow cover. On the other hand, a motorcycle or moped riding cover would be a suitable add-on if one is planning on motorcycling. One should also look for a policy that offers such convenient add-ons.

2. Check the extent of coverage
Often, one may have a health insurance cover that financially compensates for any health-related emergencies. That said, a travel insurance policy should pay for expenses over and above the coverage offered by health insurance policies. Certain good travel insurance policies can cover the out-of-pocket costs of regular policies.

3. Consider the provider’s reputation
The travel insurance company one is looking for should be rated highly on online platforms . This indicates the provider has a good reputation amongst other policyholders. Thoroughly reading the online reviews of the company can help. One can also consider consulting other policyholders, including family members and friends, to shortlist the best travel insurance companies for seniors.