Think the main caveat was you pay upfront and then claim it back, so who knows what they are like for that.
But being an insurance company the ombudsman is there for any disputes.
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Worth noting though that as Nationwide are buying Virgin, they will be equalising the terms at some point.
Youād need a crystal ball to be sure of that. Many possibilities, including the one you suggest.
Just to flag, Which magazine arenāt massive fans of the Virgin account, although Iāve not personally used it and it depends on your individual needs of course. They sayā¦
False economies
Virgin Moneyās Club M account was the cheapest packaged bank account we analysed.
But its breakdown cover remains very limited, with no cover in Europe, and no alternative travel and accommodation if your vehicle breaks down.
The accountās travel insurance also received the lowest policy score in our analysis, with no cover if your airline or holiday provider goes bust.
If youāre paying for a FlexPlus account youāve also likely met the criteria for a few Ā£100 payouts from them too - while itās obviously not a given that theyāll continue, it does soften the blow a little.
This years wasnāt based on that I donāt think. As I was flex but not eligible.
You had to have some savings I think.
Has something changed or is Which mistaken? The policy documentation indicates this is included. Can live without European cover, will get a separate policy if I plan a trip outside the UK, as it stands in 10 years of driving Iāve only driven in England & Wales so far.
Fine for me, we donāt fly, and to be honest Travel Insurance is the least useful part of the trio for me - it has taken the edge off a couple of cancelled hotel stays but other than that itās not much use for UK holidays.
Sadly, this is not the case.
I think it could have changed, as the Which comparison was last year and the Virgin Insurance Product Information Document looks like it was updated 02/24. But they could have just made a mistake.
You generally need Ā£100 in a savings account too.
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Iām going to get rid of flex plus. I used to save Ā£2/ month by having flex plus and monzo perks vs monzo max plus family upgrade but now the same combo will cost Ā£3 more per month vs having monzo max plus family upgrade. I think the key benefits are the same so may as well save the moneyā¦
Only for a period. I put money in and transferred it out and still got the Ā£100.
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Yeh, Iām certainly considering my options. I think if the cost hike had been small and incremental over time (as others have mentioned) I probably would have accepted it. However another Ā£5 a month / Ā£60 a year is quite a jump.
Depends if you have to declare medical conditions. Monzo wonāt cover them, Nationwide will.
Thereās a hard upper age limit on Monzo, none on Nationwide.
And thereās other differences. One will likely be better than the other but youād need to read through whatās included in each.
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Nationwide has Defaqto 5 stars for Travel Insurance. Monzo has 3.
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And yet has one of the highest monthly amounts for packaged accounts.
Iāve been trying to find options for alternatives. The biggest benefit for me is the mobile insurance and it covers 4 phones. All the other polices Iāve seen so far cost more than the increased cost and thatās before you add in breakdown cover etc.
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Received an email about the increase and naturally jumped in here to see what alternatives people are looking at. Iāve honestly found it hard to beat and even at the higher price I probably wonāt find a compelling alternative. If you use the worldwide travel insurance and have a joint account it still seems like good value. If youāre using it solo, maybe less so
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Another benefit of nationwide compared to others is that I believe it covers pandemics. So if say the FCDO says you canāt travel to somewhere due to a pandemic, you are insured for losses, whereas with say Lloyds you arenāt I believe.
Do you use world wide travel insurance enough to actually warrant the cost?