how to claim free travel insurance with aviva

Your Trip Didn't Go As Planned? Here's How To File A Claim With Your Travel Insurance

L et's paint an all too familiar picture. You've been carefully planning that dream trip and mapping out each detail, from flights to hotels. But life, as it often does, throws a curveball. Suddenly, you're dealing with lost luggage, a non-refundable hotel room you can't use, or -- to make matters worse -- an unexpected illness.

That's when buying travel insurance comes into play, a financial safety net for unexpected trip cancellations, medical emergencies, or lost luggage. Travel insurance can make the difference between a total loss and a simple mishap while ensuring you're not left out in the cold and footing the bill.

But filing a claim with your travel insurance company can send you for a spin, especially when you're already dealing with the stress of disrupted travel plans. That's why understanding how, when, and where to file a claim when things go haywire is so important -- and might even increase your chances of getting that money back.

Filing A Travel Insurance Claim

With its fine print, novel-long contracts, and industry jargon, understanding your travel insurance policy can be daunting. Luckily, most providers are clear about what they cover and don't from the get-go. As a rule of thumb, generic travel insurance plans typically take care of baggage delays or losses, accidental death, medical emergencies, trip cancellations, and non-refundable bookings. Beyond that, more comprehensive policies like the ones by World Nomads and Allianz can also cover adventure sports, car collisions, and pre-existing conditions.

Once you've figured out if your situation qualifies within the scope of your plan, the most important thing is to file a claim quickly and efficiently. Many insurance providers impose strict deadlines -- often within 20 to 90 days of the incident, which means time is of the essence! Contact your travel insurance provider immediately after an incident to notify them and express your intention to file a claim.

Then, gather all the necessary documentation to back up what you've told them. This may include everything from medical records to police reports, receipts, confirmation emails, or any other paperwork that support your claim. After submitting your case and paperwork, you can expect to hear back from your provider within two weeks on whether or not your claim has been accepted and when you can expect to receive reimbursement.

Choosing The Right Travel Insurance Provider

When it comes to choosing a travel insurance provider, it's not as simple as picking the plan with the lowest premium. Let's face it: cheap travel insurance isn't always better, and it's worth paying a little extra to make sure you're properly being looked after. After all, peace of mind while traveling is priceless, and the right travel insurance provider can provide just that.

Using comparison tools like SquareMouth , take your time to dive deep into each policy to see what's covered and what's not, and to learn more about the insurer's reputation, their claim handling process, and the flexibility of their plans.

Lastly, don't hesitate to ask questions. If you're unsure about anything, contact the provider for clarification. At the end of the day, the right travel insurance provider won't just sell you a policy -- they'll take the time to educate and support you, so you can be confident about your coverage and jet off without a worry.

Read this next: Hotel Reservation Mistakes You Didn't Know You Were Making

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Make a travel insurance claim

About hsbc travel insurance claims.

HSBC Travel Insurance is provided by Aviva Insurance Limited. Aviva manages the claims process from start to finish so that your claims are handled as quickly and efficiently as possible.

When to make an HSBC Travel Insurance claim

If your trip has been cancelled, your first step should be to contact your travel and/or accommodation provider for a refund.

If you paid any part with your debit or credit card or PayPal, you may also contact the payment provider for a refund. If you paid with an HSBC debit or credit card, here’s how you can  raise a dispute .

Claiming a refund from either your travel operator or your card provider may lead to a better outcome for yourself than claiming via your travel insurance, as you may be able to claim the full amount you paid without having to pay an excess. You could also potentially recover losses for all the party members on the booking, some of whom may not have taken insurance. You can find further useful information on this topic on the  MoneyHelper  website. If you’ve been unable to get a refund from your travel and/or accommodation provider or your payment provider, please contact Aviva to make a claim.

Coronavirus advice

For the latest coronavirus travel guidance, see  what’s covered under HSBC Travel Insurance .

How to make a claim

If you don't need urgent medical attention, you can make a claim online.

All medical emergency lines are open 24 hours a day, 365 days a year:

All travel claim lines are open 8am to 6pm Monday to Friday and 8am to 6pm on Saturdays, closed Sundays.

For HSBC Premier

Medical emergency line: +44 (0)1603 605 135

For travel claims: +44 (0)1603 605 122

For HSBC Private Banking and Premier (retained Jade benefits)

Medical emergency line:  +44 (0)1603 605 102

For travel claims:  +44 (0)1603 605 122

For HSBC Select and Cover

Medical emergency line:  +44 (0)1603 208 95

For travel claims:  +44 (0)345 302 8387

For HSBC Insurance Aspects 

Medical emergency line:  +44 (0)1603 605 142

For travel claims:  +44 (0)1603 604 910

For HSBC Gold MasterCard and HSBC Platinum MasterCard 

Medical emergency line:  +44 (0)1243 621 064

What you’ll need to make a claim

You’ll need to provide Aviva with:

• confirmation of the original booking and which parts of it are non-refundable
• evidence you’ve tried to get your money back from your travel and/or accommodation provider, plus your credit or debit card provider if you paid by card - for example, copies of emails you’ve sent and/or their replies
• details of any self-isolation advice you’ve been given by either your GP or from NHS 111

For all claims, normal policy excess, terms and conditions, exclusions and claims assessment apply.

How long will it take to process my claim?

As soon as you’ve notified Aviva of your claim, they will send you a claims pack detailing the information they need from you. To ensure your claim is handled as swiftly as possible, please follow the instructions in this pack.

After receiving your details, Aviva will assess your claim and make a payment to you within 28 days if your claim’s been successful.

If you’re having financial difficulties, please visit our  financial support  page for ways we can help.

Policy documents

HSBC Premier Account & Private Banking Worldwide Travel Insurance

• HSBC Travel Insurance Policy Wording: HSBC Private Banking, HSBC Premier (retained Jade benefits) and HSBC Premier Accounts (PDF, 528KB) HSBC Travel Insurance Policy Wording: HSBC Private Banking, HSBC Premier (retained Jade benefits) and HSBC Premier Accounts (PDF, 528KB) Download
• HSBC Premier Travel Insurance Product Information Document (PDF, 153KB) HSBC Premier Travel Insurance Product Information Document (PDF, 153KB) Download
• HSBC Private Banking Travel Insurance Product Information Document (PDF, 114KB) HSBC Private Banking Travel Insurance Product Information Document (PDF, 114KB) Download
• Premier (retained Jade benefits) Travel Insurance Product Information Document (PDF, 257KB) Premier (retained Jade benefits) Travel Insurance Product Information Document (PDF, 257KB) Download

Select and Cover

• Select and Cover Terms and Conditions (PDF, 427KB) Select and Cover Terms and Conditions (PDF, 427KB) Download
• HSBC Summary of Cover Limits (PDF, 105KB) HSBC Summary of Cover Limits (PDF, 105KB) Download

Insurance Aspects Worldwide travel insurance

• Your Travel Policy Document (PDF, 519KB) Your Travel Policy Document (PDF, 519KB) Download
• Insurance Product Information Document for customers aged under 70 (PDF, 296KB) Insurance Product Information Document for customers aged under 70 (PDF, 296KB) Download

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Table of Contents

What does credit card travel insurance cover?

Credit cards with free travel insurance, how to file a claim when using credit card travel insurance, why won't my credit card insurance cover my trip.

Increasingly, more Americans are jumping on the travel insurance train. Almost half (44%) of U.S. travelers say they are more likely to purchase travel insurance for their trips now compared to before the pandemic, according to a July 2022 AAA survey of more than 5,000 American adults.

But there's a good chance you can get travel protections without buying a separate travel insurance policy. That's because many credit cards provide travel insurance as a built-in benefit to customers.

Credit card travel insurance is comparable to standard travel insurance, which you'd purchase through a typical travel insurance company, like Allianz or World Nomads .

But while standard trip insurance requires you to go through the work of actually acquiring a plan, your credit card's travel insurance provides automatic coverage — as long as you pay for the trip using a card that offers the benefit.

Standard trip insurance is typically priced between 5% and 10% of your total trip cost, according to insurance comparison site Squaremouth. However, exact costs vary based on factors such as your age, type of trip, duration and expense. With credit card travel insurance, the type of insurance coverage and the maximum dollar amount covered can vary.

In general, expect coverage between $6,000 and $20,000 per trip among cards with trip cancellation and interruption benefits. For other types of coverage, like baggage delay, it's typically less. For example, lost luggage insurance coverage of up to $3,000 per passenger is standard, and travel accident insurance typically covers between $500,000 and $1 million.

» Learn More: How to find the best travel insurance

Travel insurance is a broad umbrella term, and some credit cards provide greater degrees of coverage than others. For example, cards with higher annual fees tend to offer more coverage with higher dollar values.

Common types of credit card travel insurance coverage are:

Baggage delay. If your checked bags don't show up at the carousel, this coverage will reimburse you for necessities such as clothing, toiletries, etc.

Lost/damaged baggage. If your bags are lost or damaged by a carrier (or perhaps articles have been stolen from your luggage), you will be reimbursed for the lost/stolen items.

Trip delay. Suppose you're delayed for a covered reason. In that case, you can receive monetary compensation for meals, hotels, transportation and other covered purchases made due to the delay, like an extra night's stay at a hotel.

Trip cancellation. If you need to cancel a prepaid, nonrefundable trip, you may receive compensation to offset the lost funds. This benefit generally applies to cancellations for covered reasons, which vary by card.

Trip interruption. Maybe you're already on a trip, and plans changed midway. You can be reimbursed for any unused, prepaid, nonrefundable reservations for a covered reason.

Read your card's terms to see which types of incidents are covered — and the maximum dollar value they'll pay.

» Learn More: How does credit card travel insurance work?

Some credit cards also provide rental car insurance

Similarly, some credit cards offer complimentary rental car insurance , which can be primary or secondary to your personal auto insurance, depending on the card. Coverage is typically a collision damage waiver or loss damage waiver, meaning you're covered for costs to repair or replace your rental car if there was a crash or it was stolen.

The insurance might also cover related costs, such as towing expenses and administrative fees.

Typically, you must pay for your car rental with a credit card that offers the coverage and decline the rental car company's collision coverage to get this benefit. This type of coverage usually won't cover liability and injury, which comes into play if your car damages other property or hurts you or someone else.

In addition, it generally won't cover loss or theft of personal belongings inside the car, so don't expect relief if someone breaks into your rental car and steals the suitcase you had sitting on the seat.

And take heed if you're renting from a nontraditional rental car company, like Turo or Getaround. Peer-to-peer car rentals are not likely to be covered by credit card rental insurance .

These travel reward credit cards come with different types of trip insurance protection. Only one (the United Gateway℠ Card ) has no annual fee; several others come with it included in its suite of benefits.

United Gateway℠ Card : This card has a $0 annual fee and includes trip cancellation/interruption and rental car insurance.

Chase Sapphire Preferred® Card : Although it comes with a $95 annual fee, there are half a dozen trip-related benefits including trip cancellation and interruption, baggage delay, lost luggage and travel accidents.

Capital One Venture Rewards Credit Card : This card will cover lost luggage, rental car insurance and travel accident insurance. The annual fee is $95 .

» Learn More: 10 Credit Cards That Provide Travel Insurance

If your trip is canceled or delayed due to a reason that is covered, you'll need to file a claim to get reimbursed, which can typically be done through your credit card issuer's website.

You likely won't deal with your credit card company but rather the insurer itself. Most benefits are underwritten and managed by third-party insurance companies. Be prepared with paperwork to show proof.

The window to make a claim can be short. For instance, for Chase, it is up to 20 days after the occurrence — so don't wait. You'll typically have more time to provide documentation, which is 90 days for Chase.

Documentation requirements vary, but you'll likely need to provide the following to get reimbursed:

Proof of your covered reason (such as a doctor's note or a death certificate).

Receipts for your expenses.

A copy of your account statement reflecting those charges.

A copy of the cancellation or refund policies of your travel provider.

Travel insurance can be a lifesaver in covered situations. But many problems that come up during your trip, which you might expect to be covered for, don't fall neatly within the lines of what's covered.

That's true for standard trip insurance and your credit card coverage. While coverage varies by the insurance provider, common situations that aren't covered include:

Travel arrangements canceled or changed by the travel provider. Unless it's due to severe weather or an organized strike affecting public transportation, issues that were the travel provider's fault might not be covered. For example, you might be out of luck if your airline canceled your flight because the pilot called out sick and you missed a hotel night that you paid for.

Changes in your plans due to financial circumstances. If you realize after booking that you can't afford the expense you committed to, well, you're still on the hook.

Having a pre-existing condition or traveling against the advice of a physician. This can be tricky, but the insurer might dispute your complaint if they can prove your reason for canceling resulted from a condition you already knew about or your doctor warned you about.

Extremely long or short trips. Typically one-day trips, as well as those that exceed 60 days in duration, are not covered.

If you need to cancel a trip for a reason that's not covered, you might be better off obtaining Cancel For Any Reason coverage , which lets you do just that. It's an extra expense, but this can get you some money back if you cancel for any reason (including those otherwise not-covered reasons).

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2022 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee:   Bank of America® Travel Rewards credit card

Flat-rate travel rewards:  Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-10x Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

1x-2x Earn 2X points on Southwest® purchases. Earn 2X points on local transit and commuting, including rideshare. Earn 2X points on internet, cable, and phone services, and select streaming. Earn 1X points on all other purchases.

50,000 Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.

NEWS... BUT NOT AS YOU KNOW IT

What really happens when you die abroad

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Travel trade organisation Abta has warned British holidaymakers to take out travel insurance to avoid ‘financial ruin’ this summer , as emergency medical costs have ‘gone through the roof’ in recent years.

The cost of an air ambulance back to the UK from an EU country has increased from approximately €15,000 (£12,800) to €20,000 (£17,100) in 2019 to between €25,000 (£21,300) and €30,000 (£25,600) last year.

Meanwhile, air ambulance flights from other parts of the world have more than doubled in price over the same period, and could now cost you up to €85,000 (£72,600) out of pocket.

Abta director of communications Graeme Buck said: ‘It is simply not worth the risk of financial ruin simply to save a few pounds, so always take out travel insurance at the time of booking your holiday or other travel arrangements.’

Nobody expects tragedy when heading off on their travels , but things can – and do – go wrong. According to UK Foreign Office figures, hundreds of British nationals died in fatal accidents abroad in 2022, including 60 who drowned and more than 50 who were killed in road crashes.

It may not be what you want to think about when planning a getaway, but it’s vital to be prepared, from ensuring you’re covered for every eventuality through travel insurance to knowing the process in case the worst does happen.

What happens if someone dies abroad?

In the unfortunate event someone dies while on holiday, the death needs to be registered in the country where it happened, which in some nations is possible via the Foreign, Commonwealth and Development Office (FCO) in the UK.

Their funeral can be arranged overseas or the deceased’s loved ones can have their body returned (repatriated) to the UK, which is organised through the British consulate and an international undertaker.

Citizens Advice explains you need the following documents before you can bring the body home, as well as their passport:

• a certified English translation of the foreign death certificate from the country in which the person died
• authorisation to remove the body from the country
• a certificate of embalming

Repatriation is expensive and won’t be paid for by the FCO, so you need to make sure you can either meet the costs yourself or claim them through the deceased’s travel insurance before you make arrangements. In certain cases, however, you could be eligible for a funeral payment from the Social Fund.

Most airlines or border agents require a body to be embalmed before repatriation and that all wooden coffins (as well as some metal ones) be lined with zinc to ensure safety and hygiene. Bodies are transported in the cargo hold of a plane rather than the cabin, and although companions may be able to take the same flight, this is not guaranteed.

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If the person died of natural causes, it typically takes around a week to repatriate their body, although if suspicious circumstances mean they need a post mortem, it could be delayed by up to three months. Repatriation costs also vary depending on travel distance, type of coffin and whether the coffin needs to be airtight, but tend to be between £2,000 and £4,000 (although it can be as high as £15,000).

Alternatively, if the person is cremated in the country they died, transporting their ashes back to the UK is usually much cheaper and easier than repatriating their body. For this, you’ll need a death certificate and cremation certificate, the airline’s approval regarding how the ashes are packaged, and sometimes a ‘certificate of sealing’ for the urn.

What to do if someone you’re travelling with dies

The first thing to do (after emergency services have been involved and the death has been confirmed by the local authority) is contact the nearest British embassy, High Commission or consulate where you are, or call the FCDO. They’ll offer advice on your next steps and signpost you towards other organisations who may be able to help.

If you’re on a package holiday, it’s recommended you also tell your package organiser’s representative in the resort as soon as you can.

Next, speak to the deceased’s travel insurance provider. If you don’t know who that is or if they had cover, you may be able to find out through their bank, credit card company or their employer if they were travelling for work. 

A spokesperson from Aviva tells Metro.co.uk: ‘Most insurers will have a 24-hour helpline, which will support you through the process. As part of this, they will find the most appropriate services for the situation, as well as managing the payment of bills directly.

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‘Insurers will also liaise with family members to ensure they are kept up to date throughout and will organise a medically-arranged repatriation if necessary.’

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You can view frequently asked questions, make a claim, request a call back from Aviva and get proof of travel insurance – all online.

If you’re finding it difficult to get cover for pre-existing medical conditions at a price that’s right for you, you may be able to get cover from a specialist medical insurer instead.

The Government’s MoneyHelper Service provides a directory of specialist insurers that may be able to cover your medical conditions. To access the directory please visit traveldirectory.moneyhelper.org.uk or call 0800 1387 777 

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More From Forbes

How artificial intelligence is changing the way you buy travel insurance.

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Artificial intelligence is changing the way you buy travel insurance. Here's how.

Artificial intelligence is transforming the way you buy travel insurance. From shopping for a policy to filing a claim, there's no part that hasn't been touched by AI.

"AI is revolutionizing travel insurance," says Greg Jung, chief growth officer for Seven Corners . "It's making it more efficient and tailored to individual needs."

Words like "efficient" and "tailored" are rare in the one-size-fits-all, bureaucratic travel insurance industry. For years, consumers had limited choices. And when they filed a claim, it took close to forever to get an answer, much less get paid.

Not anymore.

Jung says AI is doing away with that. The benefits to travelers include:

• Personalized coverage. AI can analyze vast amounts of data on traveler profiles, including travel history, preferences, and even risk factors like age and health conditions. That allows insurers to recommend customized travel insurance plans that provide the right level of coverage for each individual's needs.
• Proactive risk management. AI can analyze data to predict potential disruptions or emergencies that could impact a traveler's trip. This allows insurers to offer assistance, such as medical advice or flight rebooking assistance, in case of unforeseen events.
• Faster claims processing. AI can automate much of the claims process, verifying documents, assessing damages, and expediting settlements. Travelers can be reimbursed for covered expenses much more quickly, especially for straightforward claims.

Behind the scenes, travel insurance companies are also using AI to conduct better risk management. And there are parts of the business where travel insurance companies won't talk about how they use AI, such as in efforts to sell policies on their sites. Travel insurance companies are also hush-hush about how they are analyzing data to set rates and identify patterns in fraudulent claims data.

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This story is a long time coming. Travel insurance companies have been generally slow to adopt AI. You can see artificial intelligence in action in a few places, but in the places that matter to you — such as finding the best policy — there are still some gaps. AI won't fix everything in travel insurance, but it promises to make many things better.

What took travel insurance so long?

Why has AI been slow to catch on in the travel insurance industry? Well, it has — and it hasn't. I wrote about how Allianz was using machine learning to improve its products five years ago .

But across the industry, change has been gradual.

"Travel Insurance is highly regulated," explains Tim Dodge, vice president of marketing at Arch RoamRight . "There are strict policy definitions, communications guidelines and adjudication rules to which we must adhere. For AI to be successful in our industry, it has to be implemented carefully; improving the customer experience while maintaining regulatory compliance."

If you file a travel insurance claim and get frustrated with the time it takes to be settled, it's because of the way travel insurance is set up. There's a lot of required documentation to review in support of the claim.

Dodge says AI can potentially facilitate and speed up the claims handling process and reduce claimants' frustrations, and that's what travel insurance companies are now doing.

Where can you see AI in action right now in travel insurance?

Travel insurance companies are not waiting for the future.

Arch RoamRight’s AI chatbot has been integrated into every aspect of its customer experience, from its phone system to its website and travel agent portal. It's even used as a training tool for new hires, according to Dodge.

At Generali Global Assistance , a carefully trained chatbot helps customers obtain instant assistance, receive accurate information, and navigate policy complexities. "This digitalization empowers our agents to provide personalized support promptly," says Christopher Carnicelli, CEO of Generali Global Assistance.

Allianz Travel Insurance has been using AI to help streamline its claims process for years. It just added a new chatbot for customer support, too. "Our chatbot supports the customer during filing in the event the customer has questions or needs further assistance, and uses AI to qualify the customer’s needs to quickly get them the help they need,” explains Maggie Butler, director of customer experience at Allianz Partners USA.

At Faye Travel Insurance , an AI-powered app helps customers file claims for flight cancellations, baggage delays, and medical emergencies. The app speeds up the claims process, ensuring travelers get paid in hours instead of days. "It's part of our commitment to making travel insurance an integral and personalized part of each traveler’s experience," says Elad Schaffer, Faye's CEO.

Over time, the entire travel insurance industry will embrace AI. But there are exceptions.

Can artificial intelligence help you find the best travel insurance?

AI might help you find a better policy, but you have to know where to look. I tested the major AIs to see how they responded to a sample query, "I'm a 28-year-old woman who lives in New York. I am planning a one-week trip to Paris this summer. Please help me find the best travel insurance."

• Gemini offered two options — Generali and Travel Insured International, but did not show rates or a bookable link. The responses appeared to be based on a news article.
• Meta AI generated a succinct response citing the benefits of travel insurance with key coverage areas.
• Microsoft Copilot showed a generic "how-to" story about travel insurance based on an article I had written for Forbes.
• Hugging Face gave a generic response with advice on how to buy travel insurance.
• Perplexity offered several specific options, including Seven Corners, Nationwide and Travelex. However, it based its quotes on a story on a news site and did not offer a link to buy the policies.

Bottom line: You can't really shop for travel insurance using AI — at least, not yet.

AI doesn't work for everything in travel insurance

In the travel insurance industry, like in other places, artificial intelligence isn't the answer to everything.

For example, at INF Visitor Care , a company that sells travel insurance to those traveling to the U.S., AI is helping automate its claims system. INF applies machine learning to identify emerging trends in claims to design policies that cover customers when they need it for unexpected issues.

"It has revolutionized the way we think about pricing and policy coverages," says PK Rao, CEO of INF Visitor Care .

But when it comes to customer service, AI is not always the best solution.

"We find customers enjoy talking to a live person on chat and phone," adds Rao.

The future of travel insurance and AI is promising

Over the long term, AI promises to reshape the travel insurance business into one that works the way customers expect it to — quickly, nimbly and efficiently.

At least that's what Daniel Green, chief technology officer for Faye Travel Insurance , sees.

"Imagine a world where most insurance claims are processed in hours instead of days," he says. "A computer system can go out and collect all the documentation for you and prepare the paperwork perfectly, ready for a human to make a quick decision on whether to approve it or not."

AI also has the potential to insure you for only what you need — to give you the "perfect" policy.

"AI can prepare it in seconds based on being able to tell a computer in your own words what coverage you need, by having it translated into insurance paperwork-speak for you," he adds.

We aren't quite there yet, but we're getting close.

There's one more thing that is potentially keeping AI from changing travel insurance — and that is customers themselves.

Breanne Armstrong, who is director of insurance intelligence at J.D. Power, says most consumers understand that artificial intelligence and machine learning have a lot of potential, "but there is hesitancy."

Armstrong bases her observation on another study that J.D. Power recently conducted on banking customers and AI. Only 28% of respondents said they believe AI will make their lives better in the next three years. Roughly one-third say it will make no difference, and 17% say it will make their lives worse.

All you have to do is engage with any chatbot to understand those 17% of respondents. Talking to an AI about banking or travel insurance — or anything else, really — can quickly end in frustration.

"There are mixed sentiments," adds Armstrong.

That may well describe how people feel about travel insurance and AI. It could be great. But if it isn't implemented carefully, it could be not so great.

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Should you wait to claim Social Security benefits?

The longer you wait to collect, the larger your monthly checks may be

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It's possible to start collecting Social Security benefits as soon as you hit 62, though you technically have up until age 70 to do so. Still, more Americans are taking their benefits sooner than later — even though experts say there's a big advantage to waiting.

"A majority of new retirees claim benefits before age 65," said CNBC , citing research from the Alliance for Lifetime Income. However, it's not until you hit "full retirement age — generally age 66 or 67, depending on an individual's birth year" — that you'd get 100% of the benefits you'd earn. Further, said CNBC, "for each year you wait past full retirement age up to 70, you may receive an 8% benefit boost."

This means that for many people, it's worth the wait. That said, waiting to collect isn't the right move for everyone.

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What are the benefits of waiting to take Social Security?

As mentioned, there are some major upsides to holding off on collecting Social Security:

• Larger monthly payouts: The longer you wait to collect benefits, the larger your monthly checks may be. "A 70-year-old claiming Social Security this year can collect a maximum of $4,873 a month, while a 67-year-old can collect a maximum of $3,822 — an annual difference of about $12,600," said The Wall Street Journal .
• Greater survivor benefits: "Claiming later doesn't just increase your benefit in life — it could provide your spouse with a bigger payment, and greater financial security, after you're gone," said AARP . That's because "when one spouse dies, the other may become eligible to receive the deceased's entire Social Security payment if it exceeds their own."
• Potentially lower taxes: You generally have to pay taxes on your Social Security benefits. As such, "if you delay accepting your Social Security benefits and you're retired by age 70, you may be in lower tax bracket, 'which will lessen the amount of taxes you will have to pay on your Social Security benefits,'" said Aviva Pinto, managing director at Wealthspire Advisors, in an interview with U.S. News & World Report .

When does it make sense to claim benefits earlier?

While those benefits may sound enticing, waiting to claim benefits does not make sense in every case. In fact, in the following situations, it may make sense to claim benefits closer to age 62:

• You need the additional cash flow now. "Many Americans claim their Social Security benefits early for a simple reason: They need the money to cover their everyday living expenses," said Investopedia .
• You do not anticipate having a long retirement. This could be due to poor health or a chronic medical condition . But, in general, "if you don't expect to live long enough to profit from delaying your benefits, your wisest course may be to take them sooner rather than later," said Investopedia.
• You want to increase household benefits. In some cases, said NerdWallet , you may have "dependent children or an eligible spouse who may receive a monthly benefit of up to one-half of your full retirement amount, but they cannot begin receiving these benefits until you begin receiving your own retirement payment."

How should you determine the best age to take Social Security for you?

A big number to know when determining what age to take Social Security is known as the breakeven point. Since "waiting to receive bigger benefits also means receiving fewer payments over the course of your life," said NerdWallet, it's "important to find the age at which the cumulative amount of money you may receive if you file later equals the cumulative amount of money you may receive if you file early" — aka your breakeven point.

There are online calculators and financial professionals that can help you do the math, but "for many people, the breakeven point is around 12 and ½ years after age 70 or full retirement age," said CNBC Select .

However, while a breakeven analysis can provide some basic guidance, it won't necessarily tell the full story. "Before you decide to collect Social Security based on your breakeven point, you should also consider how collecting early or delaying could impact the benefit your spouse receives ," said CNBC Select, alongside considerations like your current health and expected longevity, your health insurance coverage, and the state of the economy .

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Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads. 

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Money latest: McDonald's to start selling bigger burgers - as it makes very rare changes to classic items

The fast food giant has revealed its chefs have created a "larger, satiating burger" in a bid to boost sales. Read this and all the latest consumer and personal finance news below, plus leave a comment in the box.

Wednesday 1 May 2024 17:49, UK

• Bitcoin suffers nightmare month - and it's just got worse
• Key dates for Spotify customers, energy bills, free childcare and interest rates in May
• Wait for interest rate cut leads to surprise dip in house price growth
• McDonald's to start selling a bigger burger

Essential reads

• You're probably washing and storing your clothes wrong. Here's what you should do instead
• Turns out supermarket boss was right about self-checkouts
• State pensions 'could be in doubt for future generations'
• One of UK's top chefs reveals best Cheap Eats in Norfolk - and cling film tip for amazing veg
• Money Problem : 'Builders won't repair dodgy work - what are my rights?'
• '£2,000 landed in my account' - The people who say they're manifesting riches

Ask a question or make a comment

Are you struggling because of high interest rates? Sky News is keen to hear from people who are due to refix their mortgages this year or are on a variable rate or tracker mortgage or trying to get on the housing ladder. 

Email us your stories at  [email protected]  - or WhatsApp us  here .

UK supermarkets could soon see a "healthier" version of white bread, according to scientists.

A team of researchers at Aberystwyth University will be studying the milling and blending process for white flour.

Peas, beans and oats could be added to wheat flour to boost its nutritional value.

The research project has been funded by Innovate UK, the UK's national innovation agency.

Read the full story here ...

Parents taking their kids to Taylor Swift concerts this summer might be worried their lack of knowledge will leave them feeling a bit left out.

But what if we told you you could be a mastermind?

That's the promise of a new college course ahead of the biggest pop star in the world hitting the UK in June.

The 7 May course, which is run by the  Glasgow Cylde College and is free, will give members of the public a jam-packed session that will leave them ready for the singer's upcoming  Eras Tour.

Those who enrol in a one-off college masterclass will learn about the pop star's music, set lists, crowd chants and even her "evolving wardrobe and hairstyles".

A statement on the college website reads: "Ahead of her hugely anticipated arrival, Glasgow Clyde College is offering a one time-only masterclass aimed at preparing parents and plus ones of Taylor superfans, providing the full Love Story on all things Eras Tour to help them have the best night of their lives.

"From set lists and crowd chants to need-to-know information on each Era, the masterclass, which is being delivered by a Taylor Swift expert, will give people a whistle-stop lesson that'll leave them ready for the gig."

You can book your Swiftie masterclass here .

The cocoa market is in a particularly turbulent period, with the price of the ingredient falling to its lowest level in a month. 

It comes after prices reached their highest peaks in more than four decades earlier in the year, making it reportedly more expensive than copper. 

Traders had been betting on an acute supply shortage driven by poor harvests in West Africa. 

However, the rally made it more expensive to maintain positions and prompted traders to pull out of the market - leaving the product vulnerable to big price swings. 

The price has now fallen by 16% since the end of last week, offering some relief to chocolate makers/eaters.

The fast food giant has revealed its chefs have created a "larger, satiating burger" in a bid to boost sales, according to Bloomberg. 

The mega-sized burger is reportedly designed to attract customers who want more filling patties. 

It will be introduced in certain markets first to test its appeal. 

McDonald's unveiled plans in December that bosses hope will boost growth by focusing on core menu items. 

The chain has seen sluggish sales, partly due to its perceived support of Israel in Middle East and Muslim-majority markets. 

McDonald's has denied taking any position in the ongoing conflict and said it is not responsible for the actions of its franchisees.

So far, it has launched an ad campaign highlighting what it says are improvements to its Big Mac, quarter pounder with cheese and double cheeseburger.

This is apparently the first time in the company's 84-year history that it has made changes to its classic burgers.

By Emily Mee , Money team

Discovering a hole in your favourite pair of jeans or a rip in your well-worn cosy jumper is certainly irritating - but it doesn't mean those items are destined for the bin. 

In fact, ethical fashion campaigners say that's the last place your items should be going. There is usually plenty you can do to repair them - or even to avoid damage in the first place. That way, you can keep your best-loved pieces in your wardrobe for years to come. 

Katrina Caspelich, from fair fashion campaign Remake, takes the Money blog through what you can do...

Store your clothes better

Clean them before storing them: Always ensure that clothes are clean before storing them. Launder or dry clean them according to the care instructions on the label. Stains and dirt can attract insects and cause fabric deterioration over time.

Use breathable storage containers: Opt for breathable storage containers such as cotton canvas bags or boxes instead of plastic bins. This allows air circulation and prevents moisture build up, which can lead to mould and mildew.

Avoid direct sunlight: Store clothes in a cool, dark place away from direct sunlight. Sunlight can cause colours to fade and weaken fabric fibres over time.

Hang clothes properly: Invest in quality hangers that provide adequate support to garments. Use padded or wooden hangers for delicate items like suits, dresses and knits. Avoid using wire hangers, as they can cause garments to lose their shape. Don't hang wet clothes on hangers - they can stretch.

Use garment bags: For long-term storage of formal wear or seasonal clothing, consider using garment bags to protect items from dust, insects, and moisture.

Rotate clothing: Rotate your wardrobe seasonally to prevent garments from being stored for too long without use. This helps to prevent fabric deterioration and ensures that all pieces are worn regularly.

Avoid overcrowding: Avoid cramming clothes into storage containers or closets. Overcrowding can cause wrinkles, stretching and distortion of fabric fibres. Leave some space between garments to allow for air circulation.

Store leather items properly: Leather garments should be stored in a cool, dry place away from direct sunlight. Use padded hangers to maintain their shape and avoid folding, as creases can become permanent.

Does how you wash clothes make a difference?

What exactly makes a gentle wash gentle? For delicate fabrics, you should always use cool to lukewarm water. (Hot water isn't needed unless you are concerned about bacteria and diseases like COVID-19). 

Pro tip: Be wary of wringing out your wet clothes. It can seriously alter the shape of your garments.

Other options

Wash your stuff less. The only clothes that should always be washed after one wear are underwear and sweaty clothes. Most garments worn regularly should be okay to wear two to three times before washing. Unless your denim has a bad habit of stretching out, experts say you should wash them after three or four wears so they age better. You can also throw them in the freezer to kill bacteria.

Spot clean your clothes. To clean a spot, start by removing any excess spillage and blot away as much moisture as possible with a paper towel or hand towel. NO RUBBING. Use some stain remover or gentle detergent on just the stained spot. Let it air dry or use cool air to speed up the process.

Air dry. Hang your clothes outside, Italian style. For heavier items that could stretch when hanging, lay them out flat on a surface to dry.

When should you dry clean?

Read the care tags! Don't be so quick to adhere to every garment's dry clean only tag - there's lots of chemicals involved that lurk on dry-cleaned wool, cotton and polyester. Plus, lots of brands put those tags on when they lack confidence in our ability to properly and gently wash our clothes.

If it is made of wool, linen, silk, cotton or cashmere - which is likely a majority of your closet - these fabrications can handle gentle hand washes so long as you pre-treat and single wash anything with stains, as well as wash items in groups determined by fabrication and colour.

If you aren't 100% sure what exactly a garment is made of, you can always test a little spot under the sink water to see if you get a ton of colour bleeding, warping or shrinkage before going all in.

If your garment has any fancy embellishments, flocking or beads attached by glue then you should probably take it to the cleaners if it's not just in need of a little spot clean.

Pro tip: When you find yourself at the dry cleaners, you can try asking for alternatives like a liquid carbon dioxide cleaning, which uses pressurized CO2 mixed with other gentle cleaning liquids as opposed to perc.  Another option is requesting a wet cleaning method , a wash that resembles a normal washing machine but utilises special soaps and conditioners for an extra gentle wash.

How do you know when a broken item is repairable, or when it's no longer usable?

It's important to always assess the extent of the damage. Small tears, missing buttons, loose hems or minor stains are usually repairable with basic sewing skills or by taking them to a tailor. 

Considering the condition of the fabric is also important. For example, if the fabric is in good shape apart from the damaged area, it may be worth repairing. 

However, if the fabric is severely worn out or faded in multiple places, it may not be worth repairing. Also, some types of damage such as large holes, extensive fraying or irreparable stains may render the garment unusable or not cost-effective to repair. 

Finally, it's important to consider the sentimental value of the item. If the piece holds sentimental value or is a high-quality piece, you may just want to hold on to it and invest in repairs.

If the item is no longer usable, you could upcycle or repurpose it. Get creative and turn the item into something new. Some ideas include turning old jeans into shorts, using fabric scraps for quilting or crafts, or transforming a worn-out tee into a cleaning rag. 

Donation is another option. If the clothing item is still in decent condition despite the damage, consider donating it to a local charity or thrift store as some organisations accept damaged clothing for recycling or repurposing.

Finally, look for textile recycling programmes in your area. Many communities have textile recycling centres or programmes that accept old clothing, even if it's damaged, to be recycled into new textiles or other products.

How about shoes?

Like clothing, extending the wear of your shoes requires proper care and maintenance. Some ideas include rotating your shoes between different pairs of shoes every day to allow each pair to air out and recover their shape between wears. 

Clean your shoes regularly to remove dust, dirt and stains. 

It's also a good idea to apply waterproofing spray to protect your shoes from water, stains, snow and other environmental damage. Like clothing, it's important to attend to any signs of damage or wear as soon as possible, replacing worn-out soles, repairing loose stitching, and fixing damaged heels to prevent further deterioration. Definitely consider taking your shoes to a professional cobbler for these regular repairs! 

By Connor Sephton , news reporter

Bitcoin has suffered its biggest monthly loss since June 2022 - amid signs that market euphoria is starting to cool.

The world's biggest cryptocurrency saw its price plunge by almost 15% in April.

Even though we're just 12 hours into a brand-new month, Bitcoin is continuing to fall further.

This digital asset is often valued in dollars rather than pounds - and certain price points tend to have psychological significance for traders.

Over the past few weeks, Bitcoin had successfully managed to avoid a big fall under $60,000 (about £48,000).

But all of that changed in the early hours of Wednesday morning.

After the $60,000 threshold crumbled, a sharp drop to $57,000 soon followed.

So... with Bitcoin down 7% over the past 24 hours, what happens next?

Well - traders are now engaged in what can best be described as an arm wrestle.

If Bitcoin manages to hold stable around $57,000, its value may start to recover.

But if selling pressure grows as American investors start to wake up and see what's happened, further declines are to be expected.

Bitcoin has now fallen by 22% since hitting an all-time high of $73,750 in March - which technically puts this cryptocurrency in a bear market.

However, avid enthusiasts will insist this is nothing more than a healthy correction, and Bitcoin's longer-term prospects are good.

One thing is clear: this is a volatile asset, and investors should only put in whatever they can afford to lose.

In what seems to be becoming a daily occurrence, four more lenders have announced mortgage rate rises.

Halifax, BM Solutions and Virgin are all doing so for the second time in around a week. They're joined by Nottingham Building Society.

Halifax are increasing rates on purchase products by up to 0.2%; BM Solutions by up to 0.24%. These begin tomorrow.

Virgin increased rates on products between 0.08% and 0.2% yesterday evening, while Nottingham has lifted rates this morning by up to 0.25%.

Mortgage rates have spiked in the last two weeks as financial markets have moved from pricing in a base rate cut in June to thinking it will come in August. Expectations of three cuts this year are now two.

The backdrop is sticky inflation in the US - and concern the global and domestic battle against rising prices isn't over yet.

Skipton had actually announced some decreases - but any optimism from this proved momentary.

Dariusz Karpowicz, director at Albion Financial Advice, told Newspage: "The atmosphere in the mortgage market is rather grim, with major players like Halifax, BM Solutions, Virgin and Nottingham Building Society repeatedly raising their fixed rates.

"This pattern of frequent rate hikes, sometimes occurring multiple times within a week, is casting a shadow over market sentiment. 

"The anticipated 'spring bounce' is nowhere in sight; instead, we're witnessing a continuation of mortgage woes. 

"Higher rates are expected to dampen buyer enthusiasm and potentially delay any positive momentum. 

"As for when borrowers can expect relief, it hinges on broader economic stabilisation. For now, the outlook remains cautious and subdued."

As April rolls into May, let's take a look at the key money dates to add to your calendar this month. 

A small note before we jump in - May is a month with a couple of bank holidays, so if any of your benefits payments would normally fall on those days, you'll get the money on the previous working day instead.

1 May - Prescription price change

The cost of your NHS prescription, in England, increases by 25p today - from £9.65 to £9.90.

Repeat prescription customers can apply for a prepayment certificate (PPC) which charges a fixed amount for a set period of prescriptions.

However, the cost of a one-year PCC will also rise to £114.50 from £111.60 - a rise of almost £3.

If you live in Wales, Scotland or Northern Ireland you don't have to pay for your prescriptions.

9 May - Interest rate decision 

Next week, the Bank of England's Monetary Policy Committee (MPC) will meet for its latest review of interest rates. 

The MPC has decided to freeze the base rate at 5.25% over recent months.

While nothing is guaranteed, the BoE is widely expected among economists to hold the rate once again - thought to be waiting for inflation to get closer to the Bank's 2% target. 

12 May - Free childcare applications open

From 12 May, eligible working parents of children from nine-months-old will be able to register for access to up to 15 free hours of government-funded childcare per week.

You won't be able to claim the hours until September. 

Check if you're eligible here . 

15 May - Subway loyalty points changes

Sandwich giant Subway has outlined a series of measures in its branches regarding its loyalty schemes. 

Customers have until 14 May to use the current scheme before it changes to a new app-only loyalty scheme. 

From 15 May, any points will expire and become unredeemable.

May 24 - Energy price cap announcement

Regulator Ofgem will announce the new energy price cap for the period 1 July to 30 September.

The current price cap (£1,690 a year) is expected by analysts at Cornwall Insights to fall by just over £100 to around £1,559 for the average household per year. 

Spotify hikes 

As we reported in the Money blog, Spotify will hike its prices by around £2 per month...

Depending on a customer's billing date, payment change to the higher rate will fall in either May or June. 

Spotify has said it will email existing customers with one-month's notice of the increase.

By James Sillars , business reporter

A piece of good news to bring you: a welcome fall in oil costs.

A barrel of Brent crude started the week close to $88.

It is trading at $85 today after three days of declines – the latest in Asian trading today.

The major move lower, however, came yesterday afternoon.

Analysts credited increasing hopes of a ceasefire agreement in the Middle East and on rising US crude inventories and production.

It's been another positive start to the day for the FTSE 100 - rising 0.1% to 8.157 points in early deals.

The index has started higher each session this week but, in truth, it has struggled to make big inroads since last week's record closing high.

Banks and miners are leading the way.

Next, however, was among the fallers despite posting a strong rise in full price sales.

The first quarter increase of 5.7% was above market expectations but the retailer, usually renowned for keeping expectations low and over-delivering, maintained its guidance for annual sales and profits.

Its shares were 1.2% lower.

Among the fallers in the wider market was Aston Martin Lagonda.

The luxury carmaker's stock was almost 9% down after posting bigger than expected quarterly losses.

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