If you plan to travel with others, group insurance is a great idea. These plans can cover as many as 10 people and are typically less expensive than individual policies. If you have multiple people in different countries, an annual policy may be a better option.
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. In addition, some group policies include extra benefits that individual policies do not offer. Group policies are good for parents with multiple children, as they allow children to travel with 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 is an excellent way to protect your group members from unexpected expenses while on vacation. Group policies are often cheaper than individual ones and are much easier to manage. They often include a single policy for all members and a master plan. Some policies also provide emergency medical coverage for those in an accident or who become ill while traveling. 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. It is important to verify that your current health insurance covers you abroad. If you do have insurance, make sure to check if it has any exclusions. Some policies require a preauthorization process for medical treatment, which could prevent you from receiving care abroad.
Prices
It is important to think about the costs of group travel insurance. How many people are traveling, as well as how long. The higher the trip length, the more expensive the premiums. A basic policy may cost less, but you have more coverage options and flexibility.
Travel insurance that covers a group of people is often cheaper than one for an individual. For two weeks, the Worldwide Trip Protector plan, which covers multiple travelers, is $816. This amount will cover you for medical emergencies and delayed flights as well as baggage. You can also opt for RoundTrip Group group insurance, which covers all members of the group at a cost $2,014 per head.
Cancellation
Group cancellation insurance is an important tool to cover the travel costs. Group trips can be cancelled for many reasons, including injury or illness of the leader or natural disasters, fire, and political turmoil. If a trip has to be cancelled, cancellation insurance can pay all costs.
Excessive coverage
The cost of travel insurance can vary greatly, depending 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. This excess is preferred by some people, particularly if they want 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.