Is Brexit going to push up the cost of your travel insurance this summer? Nationwide this week effectively blamed the Brexit-inspired fall in the pound for the decision to increase the cost of its popular FlexPlus packaged current account by 30%, from £10 to £13 a month. It has grabbed a sizeable share of the packaged account market and comes with a range of benefits including worldwide family travel insurance.
However, Nationwide says the price of providing this cover, and other perks such as mobile phone insurance, have risen substantially. “The cost of the exchange rate, particularly for travel insurance, has increased,” says the society. This refers to the fact that the slump in sterling since the Brexit vote has impacted on meeting overseas medical bills and other claims.
Related: Take a break from the falling pound … you can still minimise your holiday costs
Related: Will your travel insurance cover you if an airline goes out of business?
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