Group travel insurance is a great option if you are traveling with a group. These plans can cover up to 10 people, and they are cheaper than single policies for individual travelers. An annual policy can cover multiple trips. This is a good option if you have several people who live in different countries.
Benefits
Travel insurance is an important aspect of traveling with large groups. Group policies can be cheaper and offer more coverage than individual policies. In addition, some group policies include extra benefits that individual policies do not offer. Group policies are available for children traveling with responsible adults. This makes them an attractive option for parents who have multiple children. The cost of a policy is dependent on the number and duration of the trip.
Group policies are more efficient than single policies. They require less paperwork and have fewer forms. For example, when purchasing a single policy for a group of people, you only need to fill out a single form for each person, while a multi-trip policy requires more paperwork and is not available for every traveler.
Eligibility
Insurance for groups can be a great way of covering the costs of your group members while 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. Some policies include emergency medical coverage for people who get hurt or in an accident. Before you sign up, make sure you read all the fine print.
If your group has 10 or more members, group travel insurance policies may be an option. However, it's important to check whether your existing health insurance covers you overseas. Make sure you check the exclusions on any insurance that you have. Some policies require you to authorize medical treatment before you can receive it.
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 higher the trip length, the more expensive the premiums. If you are only insuring your group for a few days you might be able pay less for a basic insurance policy, but have more coverage options.
Travel insurance that covers a group of people is often cheaper than one for an individual. For example, for $816, you can get Worldwide Trip Protector (a plan for multiple travellers) for two weeks. For that amount, you will be covered for medical emergencies, delayed flights, and baggage. RoundTrip Group also offers group insurance that covers all of its members at a flat rate of $2,014 per individual.
Cancellation
Cancellation insurance can help to protect group travel costs. Group trips can be cancelled for many reasons, including injury or illness of the leader or natural disasters, fire, and political turmoil. 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. Travel insurance can be more expensive if you're traveling with your family. A pre-existing condition such as a medical condition can also impact the cost.
Many policies offer an excess. Some policies do not. People will pay an excess if they're looking for low premiums. Even though it may seem like a lot, the excess amount is almost nothing when compared with the coverage offered by your insurance company.