Families, Couples & Groups Travel Insurance
- Medical emergencies;
- Trip cancellation;
- Personal liability;
- Loss of documents.
Travel insurance providers have created over time many different types of insurance policies to cover the needs of all types of travelers. Family, couple & group travel insurance is a special type of insurance policy designed to cover more than one person, therefore significantly reducing the overall cost of insurance while traveling as a group.
One of the main benefits when purchasing family or group travel insurance offers is a reduced cost. It is much less expensive to purchase one single family insurance policy than purchasing individual single trip policies for each family member.
Family, couples and group travel insurance will be different depending on the insurance provider you get a quote and purchase the policy from due to the fact that different companies have a different definition of family or couple.
Generally a family is defined as a group of two adults with up to four dependent children under the age of 18.A couple is generally defined as two adults that share the same address. This definition may vary, depending on the insurance provider you choose to purchase from.Group travel insurance is more flexible and can include people not bound by definitions of family or couple.
When buying travel insurance for a whole group it is important to carefully go over the needs of the entire group, this way you can focus on a certain type of coverage that requires special attention. For example if the group has a higher chance to miss the departure it is important to pay extra attention to trip delay coverage. With that in mind, here are the basic types of coverage you can get with family or group travel insurance:
• Medical coverage. This includes emergency medical expenses as well as repatriation, dental treatment and hospital confinement costs;
• Trip cancellation coverage. Cancellation coverage will also provide protection against loss of trip plan deposits;
• Funeral expense coverage;
• Loss of personal possessions. Depending on the insurer and policy you choose, the list of personal possessions covered can be different. With this type of coverage you can cover each item individually or purchase coverage for your entire valuables.
• Unused excursions coverage;
• Special coverage for activities such as golf or skiing.
The reduced overall cost for the insurance policy is the primary benefit a group of people can gain by purchasing group or family travel insurance as it will always be cheaper to buy just 1 group policy instead of multiple ones for each group or family member.
An additional benefit that families gain by purchasing family travel insurance is the separate coverage for each family member. This means that you and each covered family member benefit from the protection of the policy even while traveling at different destinations.
Family travel insurance is also subject to a couple of restrictions. For example, parents or grandparents over the age of 65 do not qualify as family members. In some cases they can be covered as family members but against higher premiums.
Before purchasing family or group insurance it is important to know that these policies are usually 2.5 more expensive than single trip policies, depending on the insurer of choice. This will make family policies the better choice for larger families. For a family of 2 adults and one child this may not be the best choice.