Family vacations make for the perfect memories for a lifetime. Whether with young children or old parents, there is something special about exploring new destinations with your loved ones.
However, the uncertainty of travel mishaps makes it important to secure your family trip with the right family holiday insurance. With this insurance type, you can travel the world with your family members without the pressure of extensive out-of-pocket expenses when abroad.
So, what is the best travel insurance for families? How do you choose between family travel insurance for a single trip and a multi-trip? Find the answers to these questions in the guide below.
What is Family Travel Insurance?
A family travel insurance plan is an insurance category designed to protect the entire family's travel. It covers the whole family (spouse, children, and parents), with the sum assured during the course of your travel under one policy.
With comprehensive coverage for the entire family at one premium, you can enjoy your family trip with more fun and extensive financial security before and during your trip.
This policy covers all family members from the age of 6 months to 60, whether they are parents under 60 who are going abroad with their loved ones or children who are going to explore new places with family.
Thus, before planning a trip to a foreign land with your family, it is important to consider purchasing a family holiday insurance plan.
Why do you Need Family Holiday Insurance?
Financial Security
One of the most significant benefits of family holiday insurance is the ample financial support available for the entire family throughout the trip.
Family travel insurance ensures complete financial protection for all family members, covering prepaid, non-refundable travel expenses like flights, accommodations, and other activities, as well as unexpected trip mishaps.
Medical Support
Medical emergencies can arise anytime during the trip. However, the financial burden of managing finances at the time of these emergencies can be extremely overwhelming. With family travel insurance, you get ample coverage for any unforeseen medical situation that helps reduce your out-of-pocket expenses significantly.
Peace of Mind
Having a travel insurance plan for family backing up your international or domestic trips ensures maximum peace of mind for everyone. The insurance acts as an extensive financial safety net that ensures minimal impact of unexpected trip mishaps, both mentally and financially.
Cost-Effective Coverage
Buying an individual travel insurance plan for each family member can be an expensive investment. However, with family travel insurance, you can get combined coverage for all family members under one plan at affordable premiums, making it a cost-effective solution for your travel needs.
Scope of Customisation
Some insurance providers offer additional customisation flexibility with a range of add-ons, allowing you to increase your family travel insurance coverage according to the specific needs of different family members.
Standard Inclusions and Exclusions of Family Holiday Insurance
Inclusions
Flight delays and cancellations
Loss of baggage
Loss of passport
Medical emergencies
Trip interruptions
Dental treatments
Personal accident
Accidental death
Evacuation and repatriation of mortal remains
Home burglary insurance
Compassionate visit
Emergency cash assistance
Personal liabilities
Missed connections
Hijack distress allowance
Exclusions
Pre-existing issues, complications or diseases
Travelling against the advice of a doctor or medical practitioner
Voluntary participation in high-risk activities
Self-inflicted injuries
Damage or loss incurred due to alcohol or substance consumption
Manmade disasters - strikes, terrorism, riots, etc.
Breach of Law
Maternity or childbirth-related medical conditions
How to Choose the Best Family Travel Insurance Plan?
Assess your Travel Requirements
Before choosing any family holiday insurance, you must assess your travel needs thoroughly. This includes finalising your trip location, duration, types of non-refundable expenses, family members travelling together, and budget. This assessment will help you understand the policy inclusions, terms, premium value, and sum assured you desire.
Compare Different Plans
Once you have clarity on your requirements, the next step is to compare different family travel insurance policies from various insurers to find the one that best aligns with your and your family’s travelling needs. Check for policy inclusions to ensure your requirements are covered under your chosen plan.
Check for Policy Terms and Exclusions
After finalising a policy, take some time to review the fine print terms and conditions applicable to the chosen plan. This will give you a better understanding of the clauses and prerequisites for claims, the list of policy exclusions, and other necessary information that will help you plan your trip better.
Read Online Reviews and Assess Processes
The final step before policy purchase is checking online reviews for the policy and the insurer. This will give you a fair idea regarding the advantages and potential drawbacks of the chosen policy. Along with this, you must also review the availability of online convenience for purchases, renewals, and claim requests with your chosen insurer to make a better decision.
Conclusion
Securing your trip with a travel insurance plan is a significant investment towards maximum travel security and financial safety.
However, before buying a family travel insurance policy, it is very important to understand the policy inclusions and exclusions to assess the scope of coverage available. Family travel insurance is economical as it safeguards the interests of the entire family during the course of travel under a single policy.
Reliance General Insurance offers a wide range of travel insurance plans that cater to the varying needs of travellers and their chosen destinations. You can choose between Schengen travel insurance, Asia travel insurance, student travel insurance, family travel insurance, and
senior citizens travel insurance plans to secure your next trip with the right coverage.
Frequently Asked Questions
Can I cover family members above the age of 60 under a family travel insurance plan?
For most travel insurance policies for families, people above the age of 60 might not be included due to eligibility limitations. However, in such cases, you can buy a separate senior citizens travel insurance plan from your insurer to ensure maximum coverage for your loved ones.
Are adventure sports covered in family travel insurance plans?
Depending on the insurer and the policy inclusions, adventure sports may be covered under a family travel insurance plan. However, you must always check with the insurer and read the policy terms and inclusions to be sure.
Moreover, you can also check for the availability of an add-on that covers adventure sports and combine it with your chosen plan.
