Over the past year, many pensioners have seen their travel insurance double in price, with some policies going from £163 to £361.
Industry experts worry that the huge increase in premiums will lead to many over-65s travelling with any insurance, leaving them open to risks of no medical cover overseas or protection against theft. 
Director of the charity Age UK, Michelle Mitchell, said: ‘These figures confirm our worst fears that older people will be forced to risk travelling without protection or forgo holidays abroad altogether because they can’t afford insurance.’
In addition to the price hikes, many companies are refusing to insure elderly customers as they are more likely to have health issues when on holiday.
James Daley, editor of Which? Money said: ‘Insurers cannot say it is because of older people’s deteriorating health, as many people are much healthier than they were before, so these increases are hard to justify.’
Critics have accused insurance companies of trying to claw back money from retirees to cover payments of recent catastrophes like earthquakes, flooding, political issues in North Africa and the Icelandic ash cloud.
Younger travellers have also seen their insurance premiums go up, but by an average of around 9%.
The insurance company Direct Travel, was generally regarded as one of the better value insurers, but it has changed its policies so that its prices vary depending on age. They have discontinued their Senior Cover policy.
This has meant that a couple aged 66 would pay a premium of £365 for a two week cruise compared to £202 last year on its Premier Plus policy, an increase of 80%. Their annual cover has also increased vastly, from £163 to £361, a rise of 121%.
In addition, the company has changed its small print. Older holidaymakers will not be able to get a refund if they cancel their trip due to illness of non-immediate family members, such as in-laws or aunties and uncles. Their policies have also stopped the cover of prescription glasses and sunglass if lost, stolen or damaged.
Many other UK travel firms have followed suit, Esure have upped their annual travel insurance costs for the over-65s by 66% from £157 to £261.
The UK’s largest insurer, Aviva, has put the cost of cover for a couple of over-65s going on a cruise by 26%, and Direct Line’s has risen by 19%.
Virgin Money is one of the few insurance companies who have not increased their premiums to the elderly however, it has increased the minimum time of claiming due to being delayed from 12 to 24 hours. It has also written into its small print that it will no longer pay out for claims due to natural disaster or civil unrest.
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