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How Does Group Travel Insurance Works for Your Company Trips?

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Published on June 8, 2021. EST READ TIME: 3 minutes

Work from home although has been very popular over the last year many organizations have finally started inviting their employees back to the organizations. But for those organizations who are still standing by work-from- home kind of working style having a bonding virtually becomes very difficult. Hence, to involve all the employees again travelling to a location is safe and a perfect team building session.

Keeping the current situation in mind travel plans can get cancelled due to government rules and regulations. Hence, buying a group travel insurance becomes very important. Individual and family travel insurance are very popular post this pandemic but group travel insurance is still relatively new.

What Is Group Travel Insurance?

Group travel insurance is exactly what it sounds like. It is basically a way of purchasing a travel insurance policy that will protect a large bunch of folk, who are not automatically a family, for traversing overseas on a tour at the same time. You could be touring along with some buddies to an international wedding, or to partake in activities abroad with some club, or merely got together to enjoy a grand trip. Either way, getting travel insurance for the entire troop, rather than everybody getting their own travel policy, is bound to save you thousands.

Resource saving tips when buying your group travel cover:

Catering for your entire group travel insurance policy requirements with a single plan for all can help to save you loads. However, there are also a few elementary guidelines that you must stick to, which will bring down your premiums considerably.

Here are a few pointers to help you get cheaper but lucrative deals:

• Settle on shelling out more excess:

  If you disburse a greater portion of any claim you might file for, then you will greatly decrease your premiums as a result. But please make sure that the agreed excess is affordable and won’t choke you at the time of claiming.

• Haggle away and more with your insurance provider:

  If you have a huge group of folks away and the insurance provider offers you a quote that you feel is a tad unreasonable, do not be intimidated or shy to call them up and request for a rebate. Things are always negotiable in this field, and even if they refuse, you will have nothing to lose.

• Compare different quotes to get the best deal:

  The thumb rule is to never go for the very first plan you have been offered by the insurer as the optimum quote available. Check what is on the offer by other firms and then pick the one for which you will happily pay. As said before, put in a fair bit of bargaining too. You must look to compare like-for-like plan which gives you the least levels of shield in the chief areas listed below and pick a plan that maintains satisfactory insurance levels - and minimum excesses - with a reasonable premium cost.

• Get multi-trip covers:

Does your group go on these kinds of trips more than once every year? Then no doubt, a multi-trip cover valid for a year is the most beneficial option for you, especially if you go for more than three expeditions.

Exclusions:

There are broad and specific exclusions. Broad exclusions can include restricted geographies and specific ones can include pre-existing medical conditions. Read the insurance documents carefully to get more info.

Conclusion:

Group travel insurance is a one stop destination for all group travel be it overseas or within India. Travel insurance policies in India cover a wide variety of unfavourable scenarios, which protects both the company and its employees financially. By choosing the best group travel insurance, the company can also make sure that its employees get only the best of the coverage and benefits.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales. 

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