Our new Monzo Premium travel insurance provider is here 🏝

[RoreEricaOkoh]

Hey Community, it’s Rore the Product Marketing Manager for Monzo Plus and Premium. It’s been a while since my last update.

I’m excited to announce that we’ve changed Monzo Premium’s travel insurance provider. From 3rd July 2023, Monzo Premium’s worldwide family travel insurance will be provided by Zurich, powered by Qover. I’m here to give you all a little more detail about the switch.

Most of the things covered by the insurance will stay the same. As will the excess amount and the price of Monzo Premium.

Why we’re making the switch

Our Premium customers told us that making a travel insurance claim wasn’t always as easy or as fast as it should be. So we decided to switch from our current provider to Zurich, powered by Qover.

By doing so, we can give Premium customers a better claims support experience from the Monzo app.

New provider, smoother experience

You can start a claim and request a travel certificate in the Monzo app. Previously, you had to call the travel insurance provider or use their online claims management portal to do these things. And in the future, you’ll be able to submit and track a claim in the app too.

A bit about the new provider

As of 3rd July, the new Monzo Premium travel insurance provider will be Zurich, powered by Qover.

Zurich Insurance Company will underwrite Monzo Premium’s travel insurance policy, meaning they’re the ones who actually insure you. They will also arrange emergency help if you need it.

Qover will work with Zurich to deal with the claims you make and provide you with customer care.

Monzo Premium customers are still covered

Most of the things that Premium customers are covered for today will stay the same.

If you’d like to find out more, we recommend you read the travel insurance page on our website.

New provider, new terms and conditions

The change in provider means that Zurich, powered by Qover will be setting their own exclusions. We’ll also be changing some of the language in the Monzo Premium Terms and Conditions.

If you’d like to find out more, we recommend you read the Zurich Terms and Conditions in full.

If you’re already a Monzo Premium customer

If you’re a Monzo Premium customer, you should be receiving an email from us explaining the switch and how it affects your travel insurance cover. In case you haven’t received it yet, here’s what you need to know.

Rest assured, there’s no period of time when you won’t be covered for eligible claims.

Up to 2nd August 2023, AXA will provide your travel insurance cover then we’ll move you over on 2nd August 2023 and update the ‘your travel insurance’ section of the Monzo Premium Terms and Conditions. There’s nothing for you to sign and no forms to fill in. And there’s still no need to make any medical declarations. Please note, pre-existing medical conditions are not covered.

If you have an existing claim with AXA it will continue to be processed by them in line with your current AXA policy Terms and Conditions.

Monzo Premium is £15 per month • 6 month minimum • Must be aged 18-69 • Ts&Cs apply

[robsug]

@RoreEricaOkoh

Please note, pre-existing medical conditions are not covered.

This is such a deal breaker for me, and actually seems pretty disablist.

If you ever manage to add a solution for this, perhaps an option for an additional payment or a clause that you’ve been out of hospital for 6 months or more (as some providers do), this would be amazing and I’d sign up straight away.

[Chalky (Daniel White)]

I don’t think it’s fair to say “pretty much the same cover” like you have in your e-mail.

You’ve added a whole load of exclusions to the point where it’s not really the same cover in any sense of the word and really deserves a reduction in cost.

[dinosm]

@RoreEricaOkoh

pre-existing medical conditions are not covered.

@robsug

This is such a deal breaker for me

Is there any insurance, travel or health, that does cover pre-existing conditions? I always thought no insurance covers them, at least not without paying a hefty extra upon declaring said conditions.

@Chalky

You’ve added a whole load of exclusions

What are the main new exclusions you notice? I never checked the old policy, but this sounds worrying (basically charging the same but changing to an inferior product).

[Chris_R (Chris Rimell)]

@Chalky

I don’t think it’s fair to say “pretty much the same cover” like you have in your e-mail.

These are not significant changes (except the receipts for claims under £5), at least for me:

Qover policy:

• The policy now specifies the UK as the required place of residency for Monzo Premium, replacing the previous term ‘country of residency’.
• General exclusions now include climbing on roofs and jumping from heights, buildings and rock formations.
• You’ll now need receipts for claims under £5.
• Personal liability now excludes intellectual property and copyright, loss or damage to property, and any damages that should be more specifically claimed under another policy.
• Hijack now excludes privately chartered or rented vessels.
• Winter sports now excludes claims for anything you’ve left unattended, unless in locked storage or a lockable ski or snowboard rack.

@robsug

This is such a deal breaker for me, and actually seems pretty disablist.

Pre-existing conditions weren’t covered under the old policy. Most policies wouldn’t cover pre-existing. That’s why cancer patients have a difficult time because it’s considered pre-existing regardless of whether your cancer has been fully treated.

[robsug]

@dinosm

Is there any insurance, travel or health, that does cover pre-existing conditions?

There is yeah, usually specialist ones which are more expensive.
Although the one bundled with my work rewards covers pre-existing conditions as long as you haven’t been an in-patient in the last 6 months, which is a great solution.

[Carlo1460]

In the email it said you can cancel for free, does that mean you still take back the metal cards even if the change is by you?

[dinosm]

@Chris_R

Personal liability now excludes intellectual property and copyright, loss or damage to property

What does it mean to exclude damage to property? Your property or others’? Like, if I (accidentally) damage something in a rented room, will the insurance not cover it?

[JIMMWX (Village Idiot)]

Thanks for this - I had a quick look too (as I am always up for holding Monzo to account where I feel it’s needed) and likewise defending them as appropriate.

In this case I think it’s fair to say things are “pretty much the same” - the changes are minor wording ones and I don’t think that anything significant would impact anyone trying to claim…

*I don’t work for Monzo so take the above advice at face value

[sonos (Piers Spencer)]

Not a surprise given the number of complaints towards AXA and the two previous versions of the insurance product. I had a shoddy experience with AXA though Monzo. Was treated like absolute dirt ontop of having a ruined holiday.

[Chris_R (Chris Rimell)]

@dinosm

What does it mean to exclude damage to property? Your property or others’? Like, if I (accidentally) damage something in a rented room, will the insurance not cover it?

I think it’s in reference to this exclusion term 9.10. Loss of or damage to property belonging to, held in trust by or in the custody or control of you. Which I think is specifically saying that you can’t claim if you’re staying in a holiday home for example that’s owned by you or your family. However read in conjunction with exclusion 9.9. Liability arising out of the ownership or occupation of land or buildings other than occupation only of any temporary holiday accommodation where we will not pay for the first £250 of each and every claim arising from the same incident. And also what you’re covered for 9,b) accidental loss of or damage to the property of any person it would suggest that damage you cause in an Airbnb, for example, would be covered (unless covered by another, more relevant policy).

Personal liability is only for outside of the UK (which is the same as the current AXA policy).

*I don’t work for Monzo, but I do like reading policy docs (I know cough).

[l33t]

@dinosm

Is there any insurance, travel or health, that does cover pre-existing conditions? I always thought no insurance covers them, at least not without paying a hefty extra upon declaring said conditions.

RBS Black Card I believe you call call and add things like Asthma so its travel insurance.

[Anarchist (Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)]

@dinosm

Is there any insurance, travel or health, that does cover pre-existing conditions?

Nationwide will cover pre-existing conditions for an extra fee.

[Carlo1460]

Revolut insurances states:

[Stompy]

@dinosm

Is there any insurance, travel or health, that does cover pre-existing conditions?

I’ve previously used a firm called “DogTag” to cover me for sporting trips. They covered my pre-existing conditions for free, it just took a call to talk them through the conditions. So it is possible, you just need a system that allows the customer to contact the insurers and for the insurers to assess the risk and make a decision.

A blanket refusal is lazy at best.

[l33t]

God thats potentially a HUGE carve out with the “does not need to be formally diagnosed to be considered pre-existing”

I mean “Presented symptoms” may rule out asthma but the other one is a big carve. I dont know if other insurance has this and I missed it on mine but if you have a symptom, any symptom even if it seems minor or commonly of another ailment such as a cough and you go away and it turns out its actually something serious Rev wouldnt have to pay.

[N26throwaway (Sir Tom MacMonier)]

Most have that clause. I know Monzo’s old insurance did (haven’t read the new one; wish they’d just list the differences here so I don’t have to go and read the whole thing).

I always get specialist insurance because the amount of things an insurer would be able to attribute to a diagnosis of an ASD (or probably anything mental health related) is outrageous, frankly.

[Peter_G]

With all of this talk of Ts and C’s we’re overlooking two things:

1. Looks like in-app support and servicing. That’s an excellent change!

2. Seems that, despite research and talk of new paid products, Premium is here to stay (for a while at least?)