Travel insurance for groups is a good idea if you're planning to travel with a group of people. These plans provide coverage for up to 10 persons and are generally less expensive than single policies. An annual policy can cover several trips. This may be a good option for those who have multiple family members.
Benefits
It is important to insure your group when you travel. Group policies are affordable and offer complete coverage for all members of the group. This saves you time and money as opposed to purchasing individual policies. In addition, some group policies include extra benefits that individual policies do not offer. Parents with multiple children may also be eligible for group policies if they are accompanied by responsible adults. The cost of a policy is dependent on the number and duration of the trip.
Group policies require fewer paperwork and forms than single policies. You only need one form to purchase a policy for a group of people. Multi-trip policies require more paperwork, and are not available for everyone.
Eligibility
Group travel insurance can help you cover the expenses of your group members when they are traveling abroad. Group policies can be cheaper than individual plans and easier to manage. They typically include a master policy as well as individual ID cards for each group member. Many policies offer emergency medical coverage in the event of an accident or if someone becomes ill while abroad. Be sure to review all details before you decide to enroll as a group leader.
Group travel insurance policies could be a good option for groups that include 10 or more people. It's important that you verify your international health insurance. Check to see if your insurance policy has exclusions. You may not be able to receive care abroad if you have to preauthorize certain policies.
Cost
When you're arranging travel insurance for a group, you need to consider a few factors that will affect the cost. The number of people traveling on the trip and their duration will impact the cost. Premiums will go up if the trip is longer. You may also be able to get a basic policy for less and more flexibility if the trip is short.
Group travel insurance is more affordable than individual travel insurance. For example, for $816, you can get Worldwide Trip Protector (a plan for multiple travellers) for two weeks. This amount will cover you for medical emergencies and delayed flights as well as baggage. Alternatively, you can opt for a group insurance plan like RoundTrip Group, which will cover all group members for a cost of $2,014 per person.
Cancellation
Cancellation insurance for groups can be a useful tool to help protect your group's travel expenses. Group trips may be cancelled due to illness, injury, fire or other natural disasters. A cancellation policy can help cover all the expenses of a trip in the event it is cancelled.
Coverage excess
The price of travel insurance depends on the company and policy. A higher level of coverage may be required if you are traveling together. Another factor that will affect the cost is if any of the travelers have pre-existing medical conditions.
Many policies offer an excess. Some policies do not. Many people will prefer to pay the excess, especially if it is low-priced. While the excess amount may seem excessive, it is usually negligible when compared to what the insurance company covers.