Planning an epic dream vacation with your family and making lots of awesome memories? But you must make sure everyone’s protected in case anything randomly goes wrong, too. What if someone suddenly falls sick or gets into an accident, or you lose your baggage? That would ruin the whole trip and cost a crazy amount of money!
The smart way to avoid such a disaster is to buy a travel insurance plan upfront that covers your entire family, i.e. family travel insurance.
Family Floater Travel Insurance
A family floater plan is basically one master policy that includes coverage for you, your spouse, children, and parents – everyone travelling together in your group. Instead of every person having to buy their own individual overseas travel insurance, the family plans bundle protection for the whole group in one simple package.
So, if some mishap like illness, injury, trip cancellation, lost luggage, or delayed flight happens, expenses are covered by your insurance provider.
Factors to Keep in Mind While Choosing Family Travel Insurance
But with numerous family plans floating around, how do you figure out the best fit? Focus on these key things:
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Measure Each Traveller’s Potential Needs
The first step is to think about what every person travelling may require specifically. If you have older people over 60 years or family members with health conditions, they would need solid medical insurance for overseas hospital and treatment bills.
Next, based on where you are travelling, also see if you need coverage for COVID-19 quarantine, trip delays, passport loss, adventurous things like skiing and bungee jumping, etc.
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Compare Multiple Plans Thoroughly on Costs, Benefits and Company Reliability
Take time to totally break down and compare family travel insurance plans across aspects like premium pricing, levels of protection gained, add-ons covered, exclusion, etc. Narrow it down to ones that give maximum benefits at the best rates.
Importantly, google each shortlisted insurance company’s financial strength, market image and how reliable they settle claims globally. Good policy benefits do not mean much if companies act dishonestly or delay payments.
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Carefully check out Exclusions, Clauses, and Waiting Period in Fine Prints
Pay close attention to fine print exclusions, typically around alcohol and drug issues, mental health, pre-existing illness, maternity stuff, daring adventures, etc., apply to most family travel covers.
Understand all terms used well so you do not get shocked by rejected claims for events you thought were covered but did not qualify on technical grounds. Many insurers allow extra to override exclusions if required. Also, see applicable waiting periods.
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Choose a Travel Insurance Provider Known For Great Service and Reliability
Apart from just financial costs and benefits, considering a trusted and renowned travel insurance plan from a brand that inspires high confidence is extremely vital, especially when travelling with family and friends.
Companies like Tata AIG are renowned for their presence across the country, robust infrastructure for efficient claims processing and 24*7 assistance. They have proven over the years to be totally reliable and deliver complete peace of mind when it comes to insurance. Such established leaders in overseas coverage have rich expertise that shows in times of distress.
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See If You Meet Insurer’s Eligibility Rules
A standard family plan works for people across age groups under one policy. But some providers now cap the entry age at 70-75 for very senior family members, requiring them to take individual custom plans instead.
However, top insurers make it easy to customise and optimise group protection based on metrics like individual age, trip period, etc., while keeping overall costs reasonable.
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Clearly Get Benefits, Claim Limits and Submission Protocols
While basic covers mostly align across plans, aspects like benefits offered, claim settlement ratios, sub-limits per incident type, per family member caps, reimbursement rules, etc., vary widely.
So, completely understand what is covered and what is not. Usually, these policies offer coverage for hospital bills, COVID treatment bills, dental costs, delayed travel costs, lost checked-in luggage, etc., along with applicable upper limits per case and member to avoid confusion during claims.
Conclusion
Evaluate your family’s unique prerequisites thoroughly. This helps determine the policy’s fine print alignments and any augmentation needed through add-ons. Top insurance providers also facilitate tweaking covers for specific members as per age or trip duration.
The right family travel insurance ensures all your loved ones remain protected on holiday. So invest to discover the optimum fit and travel stress-free! Cherish beautiful moments with family, safe in the knowledge that contingencies stand covered.