Group travel insurance is a great option if you are traveling with a 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
Travel insurance is an important aspect of traveling with large groups. 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. Some group policies offer additional benefits that are not available in individual policies. Group policies are also available to children travelling with responsible adults. They can be a great option for parents of multiple children. The number of people and length of the trip will determine the cost of the policy.
Group policies have less paperwork than single policies. 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 are often cheaper than individual ones and are much easier to manage. The policies typically provide a combined master policy with individual ID cards for each participant. Some policies provide emergency medical coverage to cover those who are injured or become ill while on vacation. 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. You should check if your existing insurance covers you for travel. Be sure to review your policy for exclusions if you have any insurance. Some policies require preauthorization for medical treatment. This can prevent you from receiving international care.
Cost
There are a few factors you should consider when you arrange travel insurance for your group. For example, how many people are taking the trip and how long they'll be away. The longer the trip, the higher the premiums will be. 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.
The cost of travel insurance for a group is much lower than that for individual travelers. For example, the Worldwide Trip Protector for multiple travelers costs $816 per week. You will also be covered in case of medical emergencies, delays, and 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
Group cancellation insurance is an important tool to cover the travel costs. Group trips may be cancelled due to illness, injury, fire or other natural disasters. In the event that a trip is cancelled, a cancellation insurance policy can cover the cost of all of the trip's expenses.
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 insurance policies include an excess, but others do not. If they are seeking low premiums, some people would prefer to pay this excess. The excess amount is often negligible compared with the insurance company's coverage.