The company announced to its FlexAccount customers that the free travel insurance benefit will be discontinued from December 31, 2021. Any member traveling to Europe this year will continue to benefit from full travel insurance coverage before the benefit is discontinued.
Only FlexAccount members who opened their Nationwide account before December 15, 2016 can enjoy free European travel insurance benefit. It has not been made available to new customers since Nationwide retired the benefit in 2016.
Only a quarter actively used the cover
“We kept our free European travel insurance for long-term FlexAccount members for five years after it was phased out for new members in 2016,” a Nationwide spokesman told The Guardian, adding that the benefit will be dropped because only a quarter of the total FlexAccount customers actually took advantage of the coverage.
As compensation, Nationwide is offering affected customers a 30 percent discount on Direct Line travel insurance.
Over the past year, Nationwide has reduced coverage within its FlexPlus travel insurance for cancellations due to Covid-19.