Comprehensive Guide to Group Travel Insurance
Whether you are setting out on an upcoming business trip with colleagues or planning a family trip abroad, a group travel insurance plan can be an ideal companion and may end up saving you a significant amount of premium money.
Typically, these policies cover a group of 7 or more people during a trip and provide them with a group coverage under a single policy. However, apart from the number of beneficiaries, travel group insurance plans function the same as regular individual travel insurance plans, with the added benefit of a subsidised premium. The coverages under a Group Travel Insurance plan are almost the same as Individual travel insurance plans. Here, we have covered the basics and offered a guide to help you choose the best group travel insurance online.
What are the Travel Insurance Coverages Provided to Group Insurance Beneficiaries?
Group travellers receive insurance benefits similar to those of individual travel insurance policyholders. The following are some essential elements to consider while exploring group travel insurance plans:
●Coverage for Medical Emergencies
If somebody gets injured abroad following an accident or become ill, such scenarios can cause a major financial blow to you and your family if you have not insured your family for the trip. However, upon owning a group travel insurance policy, you can seek coverage for your medical bills.
Another important facet of Group Travel Insurance policies are that during the trip, all members of the group normally stay at the same hotel, travel in the same vehicle sightseeing, eat the same food etc and this can mean there is an aggregated risk of accident and sickness to more than one family/group member at a time
Travel insurance group plans of reputed insurers cover both inpatient and outpatient hospitalization costs. Additionally, you can avail yourself of Repatriation costs in the unfortunate demise of the insured aboard, and reimbursements for Emergency transportation to a Medical facility.
●Reimbursement for Delayed or Lost Baggage
During an international travel, passengers often experience instances of lost bags or delayed luggage because of flight delays. From now on, if you get a comprehensive group insurance travel plan, you do not need to worry about these situations, since the policy will take care of the reimbursements for expenses incurred on account of the Baggage Loss or Delay. In short, a group travel insurance plan ensures complete peace of mind during your trip.
●Passport Loss Coverage
Losing your passport can be too overwhelming, especially when you are in the middle of your trip. However, with the right group travel insurance, you can get the cost of availing a new passport covered as long as the expenses are not exceeding the amount of sum insured.
●Itinerary Changes or Trip Cancellation
Sudden events like natural disasters or the illness of multiple members can force a group medical travel insurance party to cancel or postpone their trip. Under such circumstances, the concerned individuals can get back the non-refundable part of their prepaid bookings, which helps cover financial losses to a certain extent.
Finally, when you trust the best group travel insurance company, you can expect round-the-clock customer support, even when you are abroad. This facility is essential for everyone as it helps to find the nearest emergency services or medical establishment where in they will organise cashless medical treatment for the insured traveler. Additionally, you never feel alone while being in a critical situation.
Things to Consider When Selecting a Group Travel Insurance Plan
For both group business travel insurance as well as for leisure travel insurance, you must consider the following factors to make a well-informed decision:
●Policy Duration & Destination
It is essential to ensure that your chosen plan covers the full duration of the upcoming trip. For instance, if your next business trip is expected to last two weeks, the policy must cover the entire period and not just the first week. Also most insurance companies offer two plans – Including USA/Canada and Rest of the World. Depending on the destination country, you should ensure you are buying the rightplan. You cannot travel to USA on a Rest of the World policy, since the geographical scope of policy also matters.
●Sum Insured Limit
Next, you should carefully go through the travel policy terms to ascertain its Sum Insured limit for Accident & Sickness. The Sum Insured limit is basically the maximum sum that the insurer will settle in case you make a claim. Therefore, you should pick a sufficient claim limit that can cover the expected expenses during your vacation. Most companies offer variants of $50,000, $100,000, $250,000 and $500,000.
●Policy Type
Various travel insurance policy types exist, such as annual policies and single-trip policies. The first option can be cost-effective and more profitable for travellers who frequently fly. Otherwise, you can opt for the second group travel insurance plan if you take one or two trips a year. However most Group policies are single trip policies.
●Coverages Under the Policy
Before finalizing travel insurance for a group, develop a thorough idea regarding what is covered. For instance, a standard group travel policy needs to offer coverages like urgent Medical Costs, Trip Cancellation, and Emergency Evacuation, Repatriation, Passport Loss, Baggage Loss/Delay, Flight Delay. This provides comprehensive coverage to you when you travel abroad.
●Exclusions
Aside from knowing what is covered, you should also spend significant time understanding what is not covered. For example, some policies may not cover medical bills arising from pre-existing health conditions. Another important fact is that since most non medical coverages are Indemnity in nature, the claim is payable unless you actually have incurred costs relating to Baggage Loss/Delay, Passport Loss, Flight Delay etc So, you should be aware of these policies beforehand to avoid unpleasant surprises later on.
●Prices
When availing group medical travel insurance, do not accept the first offer that you see. Instead, you must compare the quotes and the value provided against them to pick the best insurer. This is an important step as it helps you to save money paid as a premium throughout the policy term. It is important to have an optimum coverage for the premium paid.
●Online Reviews
Nowadays, you can find online reviews for each travel insurer either on their website or on third-party aggregator platforms. Make sure to go through these reviews to understand how the insurance company is likely to perform when it comes to fulfilling its financial commitments.
Should You Buy a Group Travel Insurance Policy Online?
If you decide to buy a travel group insurance policy online, you can enjoy the following advantages:
●Easy Comparison of Travel Policies
Online purchase of any insurance policy allows seamless comparison of multiple plans. Therefore, you can comfortably choose a group travel insurance scheme that best aligns with your budget and requirements.
In short, whether you are looking for group travel insurance that gives plenty of add-on options or a budget-friendly coverage plan, searching online can be your best decision.
●Minimum Intervention of any Insurance Agent
Unlike in the past, when travellers relied on agents to finalize travel insurance policies, we can now make these decisions ourselves. With top group travel insurance providers like Star Health, you can compare the best travel insurance options online and select one that quickly meets your needs. Our platform is secure, trustworthy and 100% transparent.
●Negligible Paperwork
Online insurance purchases eliminate the involvement of needless formalities. All you have to do is select a particular plan, fill out its form, and make the payment. Next, the insurance company directly sends a digital copy of the travel insurance policy to you via email. Thus, no extra paperwork is required.
It is important to note that travellers can avail themselves of tailored group travel insurance for both international and domestic trips to enjoy a worry-free journey.
Final Words
Group travel insurance plans not only provide financial protection from emergencies but also give you the peace of mind you deserve. There can be many different travel plans for various groups, such as families on a holiday, colleagues on business trips, or college friends. A comprehensive package that meets the travellers’ needs can become their best travel partner.
So, instead of waiting, consider exploring Star Health travel insurance policies today!
