Depression affects twice as many women as men and it can increase the cost of some types of insurance.
One financial consequence of depression is that you might find it harder or more expensive to get insurance, but it’s not always the case.
Depression is often misunderstood but it can be a serious illness, affecting twice as many women as men. Most of us have bad days but severe depression can last for months and leave you unable to function (and certainly unable to work). Just as depression is misunderstood, so are its effects on your ability to get insurance. It’s true that there are times when insurance companies will either exclude depression from cover or ask you to pay more for your policy, but there are other situations where your premiums and cover may not be affected at all.
If you’re thinking of hiring a car for the Easter or summer holidays, you can save money on your insurance.
If you hire a car you might not realise that the insurance you’re offered usually has a large excess – which can add up to hundreds of pounds.
You’ve booked the holiday, bought the flight and managed to track down a hire car at a reasonable price. What could possibly go wrong? Well, if you’re not careful you could end up with a massive bill if you have an accident and you haven't taken out excess liability insurance. Many car hire insurance policies impose an excess of several hundred pounds, so you could be seriously out of pocket. And while you can take out extra insurance to cover this when you sign up, it can cost £10 a day or more. But if you shop around for excess liability insurance you can get a much better deal.
Many travel insurance policies have an upper age limit of 75, but you can still get cover if you’re older
Getting affordable travel insurance once you’ve retired can be a challenge, but you can reduce your premiums if you know where to look
We’re all living longer and are more active in our retirement than ever before, but many insurance companies won’t insure you if you’re 75 or over (with some, it’s as low as 65). Every year around 3 million over 65s travel abroad, but the vast majority of travel insurance policies still impose an upper age limit. Try and find a policy that will cover you if you’re over 75 and you’ll have your work cut out. But that doesn’t mean you can’t find cover if you (or an older family member) are planning a trip this Christmas.
