What is Group Travel Insurance?
Data shows that group vacations were up be a significant percent than the years before. This partly owing to the fact that more and more families and pals are residing far from each other geographically and a group trip is often the most and the only expedient choice for present day’s relations to get together in one place and make memories. As big numbers often do, the whole process can become overwhelmingly complicated if the planning is not in place. A group travel cover can kill a lot of your worries here.
Group travel insurance is exactly what it sounds like. It is basically a way of purchasing a travel insurance policy that will protect a large bunch of folk, who are not automatically a family, for traversing overseas on a tour at the same time. You could be touring along with some buddies to an international wedding, or to partake in activities abroad with some club, or merely got together to enjoy a grand trip. Either way, getting a travel insurance for the entire troop, rather than everybody getting their own travel policy, is bound to save you thousands.
Features & Benefits of Group Travel Insurance in India:
- Cover for emergency medical deportation:
This is crucial when wandering around in a group in a foreign city, particularly if there are old people and those with other health problems are there in the group. Research the hospital, medication and repatriation expenses and buy cover accordingly.
- Cover for cancellation of trip:
This cover must be at least as much as you have shelled out for the vacation. For a group plan, make sure that you have sufficient protection for the largest possible claim there could be. Don’t forget to include expenses for pre-paid activities as well.
- Individual accountability cover:
You must also have a huge personal accountability cover per person on your chosen scheme. Also, the luggage cover must be adequate to get all your clothes and other belongings replaced or refunded if you are to lose your baggage.
- Cover for key documents:
Losing your passport can be a huge setback during any travel. Not only is it inconvenient to walk around without one, but also highly dangerous and a ticket to get into trouble with the law of the land. Get a policy that covers this and will replace your passport at the earliest at no cost.
- Hijack disaster and other catastrophes:
When times are tough, there is no end to troubles. And buy cover for natural disaster, depending on where you are going and how prone that area is to natural calamities.
- Rebated and Less Expensive:
The most notable perk of travel insurance for a group is that it costs way less when you compare it to the net cost of individual travel covers per member. Here you have a chance to save up to 20 percent of the total price.
- Easy & Hassle-free Processing:
For one group of travelers, you would be required to fill in only one form rather than getting forms for each member. One master policy will be given to each with their respective ID cards.
Best Group Travel Policies in India:
Premiere group insurance providers in India are TATA AIG, Royal Sundaram, HDFC Ergo, ICICI Lombard etc.
International Group Travel Insurance ELigibility Criteria:
As the name implies, the policyholder has to be a part of a group.
Minimum number of people in a group is generally five though this could be adjusted at the discretion of the insurer.
Each member of the group must depart and return on the same day.
Group Travel Insurance Policy Covers:
Group travel indemnification is typically endowed with the same cover you might presume from a single travel plan for individuals, but for a bigger number.
Unforeseen things like trip cancellation, baggage loss, critical health situations and loss of money or essential belongings etc. are normally insured. Hence never disregard the fine print.
Whenever you go to buy a policy, always keep in mind the kind of holiday you are going to take. For instance, if it is a beach destination, you are sure to want to go for some aqua sports like para sailing, scuba diving, jet skiing, kayaking or merely swimming in the sea. Mostly, these are generally not included and you will either have to get a policy with this cover or buy the same by paying extra premium.
You can also avail additional cover as a matter of course on a group plan, and you will also reap benefits such as a bigger some for most covers compared to standalone travel cover.
Group Trip Insurance General exclusions (can be bought for additional premium):
It is better to comb through the entire policies, fine print and all, to ensure that there are no unpleasant surprises – such as being refused cover on some grounds and when you recheck, it is true.
Age is not just a number for insurance companies. The age of some members of your troop might prove to be a matter of concern in a few cases - generally for those aged 65 and above. Not all insurance carriers will offer an inclusive cover for them and if they do, it will be quite expensive.
You may also struggle to discover a group cover if by chance some members of your group reside in some other country and you plan to meet at a common point.
Other typical exclusions reflect those that you can anticipate when buying plans on person to person basis as well. These range from unreported robberies (in less than 24 hours), preexisting medical problems, and mishaps due to drug / alcohol abuse among others.
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