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Diabetes travel insurance

The facts about getting travel insurance with Diabetes

If you have Diabetes Type 1 or 2, your condition will need to be disclosed when applying for travel insurance. Diabetes is classed as a pre-existing medical condition, therefore it isn’t something that is covered under standard travel insurance.

With a Diabetes travel insurance policy, you can claim for lost or stolen medication so you can continue with your holiday with little disruption, receive hospital treatment you may require abroad, or cancel your holiday if you are unfit to travel. Diabetic travel insurance can also cover your flights in the case that you miss them due to your condition.

What does Diabetes travel insurance cost?

If you suffer from Type 1 or Type 2 Diabetes and need travel insurance, then you will need to provide insurers with information about your condition. Insurance underwriters will assess your application for Diabetes travel insurance based on the following:

Your premiums for Diabetes travel insurance will also depend on:

  • Sum assured (£’s)
  • Term of cover (years)

Diabetes travel insurance rates/ratings

Rates for any non-standard cover such as Diabetes travel insurance will vary from one insurance provider to another depending on their underwriting philosophy. Insurance providers use a risk based scale to determine the amount you will pay for your cover which uses a ‘percentage loading’ or ‘£’s per mille loading’. All insurance companies have their own underwriting criteria which will also change over time, so can be difficult to predict unless you regularly speak to them.

Percentage (%) loading for Diabetes travel insurance

A percentage loading basically applies a % to your standard premium based on the levels of risk calculated for your own circumstances. Your percentage loading will apply a multiple to your Diabetes travel insurance premium which will be based on your health at the time of your application. You should also know that some insurance providers have different maximum levels to others, so some are prepared to take on higher risks (e.g. 250% or 400%).

EXAMPLE:

Basic premium
% loading
Final premium
£20.00 50% £30.00
£20.00 100% £40.00
£20.00 150% £50.00
£20.00 200% £60.00
£20.00 250% £70.00

Per mille loadings for Diabetes travel insurance

You may also find that a ‘per mille loading’ could be applied to your Diabetes travel insurance premiums, but this is more rare and only tends to be used for more severe underlying conditions such as Cancer. A ‘per mille loading’ will be an additional amount that is applied to your premiums which is based on the amount of cover you are applying for (e.g. £2 per thousand £’s of cover). The other difference with a ‘per mille loading’ is that it can be applied for the whole term of your Diabetes travel insurance policy, or for a period of time from the start of your policy (e.g. 2, 3, 4 or 5 years).

Type 1 Diabetes is when the body doesn’t produce any insulin, which is used to regulate blood glucose levels. The condition requires regular insulin injections. If you have Type 1 Diabetes, you will need to disclose it with your travel insurance underwriter to ensure you can receive the best cover possible. You may want to take out Diabetes Travel Insurance in case you require medical treatment for your condition while on holiday.

Type 2 diabetes is a more common form of Diabetes than Type 1. Your body still produces insulin, but not quite enough to meet your body’s needs. It doesn’t typically require daily injections, but if the condition can worsen over time. Tablets are often prescribed, which is why it might be worthwhile taking out Diabetes travel insurance, in case you lose your medication and need to claim.