Travel Insurance Premiums Can Triple After Age 70 – New Price Comparison Reveals Enormous Gaps Between Insurers

Turning 70 can almost double travel insurance premiums overnight, while 80-year-old travellers face quotes up to six times higher than their younger counterparts for identical coverage, according to new research published by personal finance research website MoneyHub. The guide is the only published resource in New Zealand that systematically price-tests which insurers actually quote for travellers aged 70 and 80 and compares pricing across multiple destinations.

MoneyHub obtained quotes from 12+ insurers for 70-year-old and 80-year-old couples across four popular destinations – Australia, United Kingdom, USA, and Fiji. Every insurer tested offered cover for both age groups, but the pricing differences were stark.

Key findings from the price comparison include:

• USA trips show the widest spread: An 80-year-old couple travelling to the USA for 22 days received quotes ranging from around $2,200 to over $6,300 – a difference of more than $4,000 for identical coverage
• Australia is most affordable: An 8-day Australia trip for a 70-year-old couple ranges from approximately $90 to over $300 across insurers
• Age 80 premiums escalate sharply: Premiums roughly double from age 70 to 80 across all destinations and insurers
• Every insurer tested quoted: All 12+ insurers offered cover for both 70 and 80-year-olds – but coverage quality and pricing varied enormously
• UK trips are mid-range: A 22-day UK trip for a 70-year-old couple ranges from approximately $390 to over $1,200
• Pre-existing conditions add further cost: The base prices tested excluded pre-existing conditions – adding these can significantly increase premiums at older ages

“Older New Zealanders are travelling more than ever, yet the insurance market makes it hardest for the people who need it most,” said Christopher Walsh, Founder of MoneyHub. “Medical emergencies are more likely after 70, treatment costs are higher, and the consequences of being uninsured are more severe. A broken hip in the USA can cost $150,000 or more. Medical evacuation from Fiji to New Zealand can exceed $50,000.”

Walsh emphasised that shopping around is essential: “The gap between the cheapest and most expensive quote for identical coverage can be thousands of dollars. Getting three or four quotes takes minutes and can save a significant amount. Unlimited medical cover is non-negotiable at this age – do not accept a policy with capped medical cover.”

The full price comparison, including destination-by-destination tables for 12+ insurers, tips for over-70s buyers, and pre-existing condition guidance, is available at: Over 70s Travel Insurance NZ

About MoneyHub

MoneyHub is New Zealand’s leading independent financial guidance website, offering free research, tools, and guides to help New Zealanders make better money decisions.

© Scoop Media