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. If you have multiple people in different countries, an annual policy may be a better option.
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. Many group policies also provide extra benefits than individual policies. Group policies are good for parents with multiple children, as they allow children to travel with responsible adults. The cost of a policy depends on how long the trip lasts and the number of participants.
Group policies require fewer paperwork and forms than single policies. A group policy, for example, requires only one form to be filled out for each person. A multi-trip policy, on the other hand, will require more paperwork and may not be available for all travelers.
Eligibility
Insurance for groups can be a great way of covering the costs of your group members while abroad. Group policies are usually cheaper than individual plans and are easier to manage. These policies usually include both a master policy and individual ID cards for each member. Some policies include emergency medical coverage for people who get hurt or in an accident. Make sure to carefully review the details before signing up if you are a group leader and/or looking for group travel coverage for your company.
Group travel insurance policies can be a great option if your group includes 10 or more people. But, you should verify that your health insurance covers you if you travel abroad. If you do have insurance, make sure to check if it has any exclusions. Some policies require preauthorization for medical treatment. This can prevent you from receiving international care.
Cost
You need to take into account a few things when arranging travel insurance for a group. Consider how many people will be traveling and how long. The premiums will increase if the trip is more than one week. A basic policy may cost less, but you have more coverage options and flexibility.
Travel insurance for groups can be much cheaper than it is for individuals. For example, the Worldwide Trip Protector for multiple travelers costs $816 per week. For that amount, you will be covered for medical emergencies, delayed flights, and baggage. For a $2,014/person cost, you could also choose to purchase a group insurance plan such as RoundTrip Group. This will provide coverage for all your group members.
Cancellation
Cancellation insurance for groups can be a useful tool to help protect your group's travel expenses. Group trips can be cancelled for many reasons, including injury or illness of the leader or natural disasters, fire, and political turmoil. In the event that a trip is cancelled, a cancellation insurance policy can cover the cost of all of the trip's expenses.
Coverage excess
Travel insurance costs can vary depending on which company you choose and what policy they are. Travel insurance can be more expensive if you're traveling with your family. Another factor that will affect the cost is if any of the travelers have pre-existing medical conditions.
Many insurance policies include an excess, but others do not. This excess is preferred by some people, particularly if they want low premiums. Although the excess amount might seem large, it is usually nothing compared to the coverage provided by the insurance company.