Is Family Holiday Travel Insurance Worth It

Benefits of Travel Insurance

Travel Insurance is one of the crucial requirement when you are traveling to any foreign country and more so if your family is accompanying you on the trip. Travel Insurance offers protection in event of loss of flight tickets/cancellation of the flight/train tickets, medical emergencies, theft, and baggage loss and any other unforeseen events.

Family Travel Insurance is one travel insurance policy that offers cover to the entire family. The family can include two adults who are below 60 years of age and two children who are below 21 years of age. Family Travel Insurance can also be called as family floater plan. The policy works out to be cheaper than buying separate travel insurance policies for each of the members. We need to understand that if parents are above 60 years of age and if one or both children have crossed the upper age limit of 21 years then it would be recommended that separate travel insurance policy needs to be taken for them. A family having a third child may include the child in the same policy by paying extra premium.

Why do we need Family Travel Insurance?

Traveling with family is definitely a stress relieving experience but is also fraught with many risks. The change of weather or change in the food can have an effect on the health of any family member. A very cold weather or a very hot weather can cause health issue which needs to handled straight away. Having a family floater would help the travelers in such circumstances. Following list looks into the needs of family travel insurance but is not exhaustive

  • Travel Insurance offers cover for health emergencies including hospitalization, Most of the health insurance plans do not offer cover outside the country and one should ensure that they have higher coverage as costs can be very high in countries like U.S. and Canada and other countries.

  • It is mandatory under laws of some of the countries to have travel insurance else they are not allowed to stay in the country. Also in the event the medical treatment costs are high then it is also much needed for the traveler.

  • If you are traveling to remote areas then chances are that in case of medical emergencies you might have to be airlifted which can be very costly.

  • If you suffer from a dental issue which cannot be delayed then you will have to seek medical help for the treatment which can come at a high cost. Travel Insurance plan can then come in handy.

  • You are all excited for this trip but the technical issues, weather issues mar the travel plans and you miss that connecting flight. Travel Insurance offers cover for that missed flight in transit.

  • By buying Travel Insurance you can keep travel-related stress at bay in relation to financial security when you are traveling abroad. Also get your medical expenses related stress out of mind as it offers covers for medical emergencies.

  • The most dreaded of thoughts where one loses their baggage can be harrowing. Travel Insurance offers cover for such an eventuality.

A basic family Travel Insurance policy covers

  1. Flight/Train cancellations

  2. Missed Connecting Flight

  3. Resort booking cancellation

  4. Medical emergencies

  5. Hospitalization

  6. Loss/theft of passport/identity papers

  7. Strikes/civil unrest

Which Family Floater Plan to Choose?

One needs to check the terms and conditions of the family travel insurance plans and read the fine print of these policy documents very carefully. There are travel insurance companies that offer relaxation in the maximum age of entry and also the medical conditions that are covered under the policy. One needs to get a proper understanding of risks that one would have to undertake during the journey. Policies having lower premium have wide range of exclusions.

Related Posts:

Eight Factors to Consider while Choosing a Travel Plan

What Policyholder Can Avail From Travel Insurance

Top 5 Facts to be considered before Buying Travel Insurance Online

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