Why Should You Buy Travel Insurance for Your Family?
- DetailsWritten by PolicyBazaar -
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Updated date : 20 September 2019
Travelling abroad with family can be a costly affair, and any medical emergency or unforeseen events that you might find yourself embroiled in would add on to the total cost. That’s why you need to buy travel insurance for your loved ones. All such unexpected risks can be covered at a nominal rate with the help of travel insurance. You also have the liberty to purchase travel insurance online.
To make your family immune to any travel-related mishaps, you need to invest in a comprehensive travel insurance scheme.
A lot of countries have made it compulsory for travellers to purchase international travel insurance while booking their tickets. If travelling within the country, having domestic travel insurance is also important.
Family travel insurance offers protection to the entire family while you are travelling together. Generally, this kind of travel insurance includes two adults, along with up to four dependent children.
It aims to protect the family against financial uncertainties that might arise due to travel-related incidents during their trip.
Advantages of Family Travel Insurance Policy
Buying individual travel insurance for a vacation abroad with the entire family can be a tedious task. That’s why it is really important to get a family travel insurance plan when you and your family are going on an overseas trip.
Given below are some of the advantages of buying a family travel insurance plan.
- Thanks to the family travel insurance plan, you won’t need to go through the trouble of buying separate travel insurance policies for each member of the family.
- Since the sum insured covers all family members, you will need to pay only a single premium amount. The premium amount will also be lower in comparison to standard travel insurance plans.
- You have the freedom to customise the insurance plan as per your family’s requirements. You can select the travel insurance plan for a single trip, multi-trip or a year-round travel plan.
- Family travel insurance policy turns out to be more affordable and optimal in comparison with buying separate insurance policies.
- In the family travel insurance plan, you get additional coverage for personal accident, medical evacuation, repatriation, and similar unexpected circumstances.
- A lot of insurance companies now provide facilities like cashless claims, online renewal, minimal documentation, international assistance and economical premium rates for family travel insurance.
What Does a Family Travel Insurance Cover?
Before you choose a family travel insurance plan, you need to know the exact sum insured amount covered as well as the number of travel-related issues that come under this amount. Many travel insurance plans also offer benefits like emergency cash advance, daily hospital cash, etc.
Here’s a list of unexpected situations that you or your family might find yourselves stuck into but are covered by most of the family travel insurance policies, thereby giving you relief.
- Expenses incurred due to an emergency medical situation while travelling overseas like an injury, sudden illness, or death.
- Any bodily injury that might have occurred due to accident, while you are on tour.
- If you are admitted to a hospital for more than a specified number of days, travel insurance helps in arranging the flight ticket as well as the stay for a member of family visiting you.
- Family travel insurance offers cover against the expenses incurred during emergency medical evacuation
- It provides coverage for the expenses of transporting the remains of the deceased insured traveller back to his or her country or the expenditure involved in an overseas burial in case of an unfortunate or untimely death.
- It provides coverage against death or permanent disability that might have occurred due to an accident.
- It helps in covering the expenses incurred due to the loss of your checked-in baggage by an airline carrier.
- If by any chance the traveller loses his or her passport, it helps in covering the cost incurred for obtaining a new or dupplicate passport.
- The insurer will be compensated in case of trip delays or flight cancellation due to unfortunate events like natural disasters, airline disasters and other medical or technical problems.
- You will be compensated if a delay exceeding a certain number of hours results in you missing a connecting flight.
- The family travel insurance also protects against burglary in your house while you are travelling abroad.
- You will be offered an allowance in case of a plane hijack.
- You will also be provided with emergency funds in case you lose your money due to theft.
- A family travel insurance scheme will also offer protection against political risks that you might face like strikes, civil commotion, etc.
- A basic family travel insurance plan also helps in covering the costs incurred because of an extension of hotel stay due to unavoidable reasons.
Companies Providing Best Travel Insurance India Plans
The following insurance companies in India provide the best travel insurance India plans:
- Reliance General Travel Insurance
- ICICI Lombard Travel Insurance
- Cholamandalam Travel Insurance
- HDFC ERGO Travel Insurance
- IFFCO Tokio Travel Insurance
- National Travel Insurance
- Bharti AXA Travel Insurance
- New India Assurance Travel Insurance
- Royal Sundaram Travel Insurance
What Are the Eligibility Criteria for Family Travel Insurance?
Insurance companies mostly offer travel policies for families with members between the age group of 3 months and 65 years. If someone is over 65 years of age, they will have to opt for a senior citizen travel insurance policy. Your policy will depend on factors like destination, duration of the trip, the medical condition of family members, among others.
Exclusions in a Family Travel Insurance Policy
Here’s a list of some common exclusions in most of the family travel insurance policies:
- Pre-existing medical conditions such as mental disorders, heart ailment, HIV/AIDs etc.
- Acts of war/terrorism
- Suicide attempts or self-inflicted injuries
- Going against the doctor’s medical advice
- Repercussions of drugs or alcohol use
- If you are involved in any criminal activities or have suffered injuries due to participation in hazardous activities, you won’t be compensated.
- Theft/loss of baggage but not reported to local police stations
- Damage or partial loss of checked-in luggage
Having family travel insurance ensures that the only thing you care about when travelling with your family is creating unforgettable memories along with having unlimited fun. Thus, make sure to buy travel insurance before your next overseas family trip.
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