Group travel insurance is as simple as it sounds. It is mainly travel insurance policy for a number of people who are not related to each other, or in other words, are not a family. It is of two types, i.e. International and Domestic. As an employer, you decide the type of policy and its premium depending on key requirements, such as if the concerned people need to fly overseas. Then, the insurance type required would be international or otherwise.

The employer also chooses if the cover is for a single trip or it is going to be a multi-trip plan. This plan protects all individuals in the group with medical services & benefits, travel services, and other valuable services. You could be touring with your colleagues on a national or an international conference or can also be on a company-sponsored trip. From an employer’s perspective, getting a group travel insurance cover would help you save a lot rather than insuring every individual that is going on the trip.

What does this type of insurance cover?

Group travel insurance is similar to a single trip policy. The difference between two policies is that an individual is covered by an individual travel insurance policy, whereas a large number of people are covered by a group insurance policy. Along with a group of individuals being covered, the loss of money, baggage, flight cancellation, and the loss of possessions are also covered by this type of insurance policies.

Remember, if you plan to buy a group insurance cover, then it is very important to read the terms & conditions of the policy. This will help you to understand what activities are covered before you plan to take part in any activities. You can also get extra cover as a matter of fact on a group policy. You can get extra benefits when the number of people is increasing, which include larger amount of luggage.

Features & Benefits of Group Travel Insurance:

Cover for emergency medical deportation

This is a crucial feature when going overseas on a business trip, especially when the person traveling is above 50 years of age Employers must explore the medication and hospitals along with the medication and return expenses before buying a cover accordingly.

Cover for cancellation of the trip

This type of cover is a must help you avoid any extra expenses in the event of a flight cancellation. For a group plan, employers must ensure that they’re opting for the biggest possible claim. Also include expenses for any pre-paid activities.

Cover for key documents

This cover can also help the person on the trip, in case he or she loses the passport. In fact, losing the passport can be devastating for anyone on the trip. A passport is very important, as roaming around without it can get you in trouble with the local enforcement. Therefore, make sure you get a policy that covers the loss of passport and can get you a new one as soon as possible.

Hijack disaster and other catastrophes

Buy a plan that covers injuries or a like incident due to natural disasters depending upon where your people are going and how much the area is prone to natural calamities.

Less Expensive & Rebated

The best feature of a travel insurance policy is that it costs much less that what an individual travel insurance policy purchased for a group of people cost you. It saves you almost 20% of the total price.

Hassle-free & Easy Processing

The easiest part of a group insurance is that you would need to fill out only one form for a group of travelers. In other words, it leaves you out of the hassle of filling forms for each individual. Each member is then provided with one identity card.

You may also Like to Read: Corporate Travel Insurance Benefits

The Bottom Line

Companies often organize overseas and domestic trips for business. Since a medical or financial emergency may strike anytime, a group travel insurance policy ensures that all such emergencies will be taken care of in a hassle-free manner. So, make sure you provide travel insurance to your valuable employees next time they need to travel.

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