Group travel insurance can be a smart idea if you plan on traveling with a large group. These plans cover up to 10 people and are less expensive than single policies for individuals. You can also choose an annual policy that covers multiple trips, which may be a good choice if you have a few people living in different countries.
Benefits
If you travel with large groups, it is important to have travel insurance. Group policies are more affordable and offer comprehensive coverage, which saves time and money over purchasing separate policies for each member. Group policies may also offer extra benefits that individual policies don't. Group policies are also available to children travelling with responsible adults. They can be a great option for parents of multiple children. The cost of a policy is dependent on the number and duration of the trip.
Unlike single policies, group policies require fewer forms and less paper work. 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
Travel insurance for groups is a great way to cover your group members' costs when they are abroad. Group policies can be cheaper than individual plans and easier to manage. They often include a single policy for all members and a master plan. Some policies also offer emergency medical coverage, which covers those who become sick or are in an accident while traveling. Before you sign up, make sure you read all the fine print.
Group travel insurance policies can offer great savings if you have 10 or more participants. It is important to verify that your current health insurance covers you abroad. Make sure you check the exclusions on any insurance that you have. You may not be able to receive care abroad if you have to preauthorize certain policies.
Cost
If you are looking to arrange group travel insurance, there are several factors that can affect the price. How many people are traveling, as well as how long. The longer the trip, the higher the premiums will be. You may also be able to get a basic policy for less and more flexibility if the trip is short.
The cost of travel insurance for a group is much lower than that for individual travelers. For example, the Worldwide Trip Protector, a plan for multiple travelers, costs $816 for two weeks. You'll be covered for baggage, delayed flights, medical emergencies, and delays. RoundTrip Group offers group insurance plans at a price of $2,014 each.
Cancellation
Group cancellation insurance is a great tool to protect costs associated with traveling with groups. There are many reasons for group trips to be cancelled, including illness or injury of a group leader, natural disaster, fire, or political turmoil. A cancellation insurance policy will cover all expenses if a trip is canceled.
Excessive coverage
The price of travel insurance depends on the company and policy. If you're traveling with family members, you might need more coverage than if your travels are solo. A pre-existing condition such as a medical condition can also impact the cost.
Many policies offer an excess. Some policies do not. If they are seeking low premiums, some people would prefer to pay this excess. Although the excess amount might seem large, it is usually nothing compared to the coverage provided by the insurance company.