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Suppose you and your family plan to visit Bali, Indonesia, for an international vacay. You carefully make all the necessary arrangements, from flight bookings and hotel reservations to travel insurance and currency exchange. Unfortunately, you find yourself as a victim of burglary– losing your passport on a foreign land. The incident not only kills the journey’s spirit but also lands you in a difficult position causing financial loss.
Especially when you are travelling overseas with your family, unforeseen incidents like theft, medical emergencies, or loss of baggage can ruin the entire experience. However, choosing the right family travel insurance plan can be a confusing and difficult decision, affecting your trip’s budget, security, and coverage.
Well, don't worry, as we've got you covered! Today we've compiled a 5-factor guide to help you choose the best family travel insurance policy. So, the next time you plan a trip, you can secure your loved ones against unexpected medical and non-medical contingencies.
Factors to Consider While Choosing the Best Family Travel Insurance Policy
Here are five factors you should consider while looking for a comprehensive yet cost-effective travel insurance plan for your next family trip:
Consider Your Travel Destinations
While buying family travel insurance, always consider the type of destinations you are about to visit. Analysing the kind of destination you see can help you understand the type of coverage you may need.
Let us take the case of Bali, for instance. Bali's geographic location with high seismic activity makes it prone to natural disasters such as earthquakes and floods. If you are visiting Bali, you would require coverage that may save you from such stressful situations. Similarly, being a harmonious destination makes Bali free from crimes. Thus, you may skip coverage for theft or burglary while buying travel insurance for Bali.
Check and Compare the Coverage
When travelling with the family, you need expansive coverage for medical and non-medical events to ensure complete healthcare and financial security. Always look for benefits like cashless hospitalisation coverage, in-patient care, personal accident, daily allowance, etc.
Also, while buying a family travel insurance plan, checking out the coverage can help you significantly reduce the policy's overall cost. For instance, suppose your comprehensive travel insurance plan also offers coverage for pre-existing diseases; however, none of your family members has pre-existing conditions to get coverage for. In such a case, you can opt out of getting coverage for pre-existing diseases, thus reducing the premium of the plan.
Look for Exclusions and Restrictions
To avoid last-minute surprises from your family travel policy, you should read out the policy’s exclusions and restrictions carefully before buying. .
Suppose your family trip insurance doesn't cover the losses incurred due to natural calamity. However, you get stuck in heavy rain, resulting in an extension of the trip for three days. Your plan won't cover the extra expenses incurred during these three days. Knowing the plan's exclusions will allow you to get your policy customised with additional coverage or plan your trip accordingly.
Compare Quotes and Benefits
Travel insurance – especially for multiple family members – comes at a cost. That’s why it is vital that you compare the premium rates of different travel insurers before finalising the most suitable option.
Travel insurance companies may provide a plan at a lower premium than others. However, chances are that a plan with a low premium may offer lesser coverage or a low sum insured. Thus, you must evaluate your family's travel-related needs and buy travel insurance only after comparing quotes and benefits.
Compare the Claim Limit Of The Plan
While you buy family travel insurance, you should also ensure that the claim limit of your plan is high enough to cover your family’s medical needs. . The claim limit is the maximum amount your insurer may provide for a claim. A high claim limit ensures that you and your family have apt coverage in times of need.
Wrapping It Up For The Best Family Travel Insurance
Choosing the right family travel insurance can be challenging! However, if you keep the above-mentioned factors in mind, you can make a smart choice of safeguarding your trip with a budget-friendly travel plan.
At Care Health Insurance, we offer wide-ranging international travel insurance plans for families and individuals – saving the journey’s fun. The plan is customizable and comes with apt coverage to assist you and your family in times of a medical or non-medical emergency during your trip. Some of the most prominent benefits that the Care Family Travel Insurance Plans offer include:
- Quick claim settlement – both cashless and reimbursement – in times of a medical emergency during the period of insurance.
- Coverage up to the sum insured in case of unfortunate death or permanent total disablement of the insured members.
- Coverage for non-medical emergencies such as baggage loss, theft, passport loss, etc.
- Additional benefits like coverage for PED, trip extension, dental expenses, and more.
Now that you know what the right travel insurance policy looks like, wait no more. Visit the Care Insurance’s official website and compare various family travel insurance plans to find the most suitable travel insurance for yourself!
Disclaimer: Plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.
