It’s never too early to save money. And booking travel insurance that will cover the entire family during your summer vacation is a good way to do it. Don’t overlook this option when comparing plans. The savings can be substantial.
But make sure you know what you’re buying. Ask questions. And for a special purchase like this, deal with a broker that specializes in travel insurance. A lot of agents sell travel-related products but not all are experts in travel coverage.
Some family plan premiums are pegged to the age of the oldest traveller: multiply by two, and that covers your children as well.
Other plans will provide a separate rate table for families, so make sure you ask to see one and compare that to paying individual rates for each traveller—you’ll see quite a difference. Also make sure that all the children you want covered are named on the plan. Discuss that point with your broker.
Most family rate plans are available to parents under age 55 or 60, and they cover dependent children. But insurers define “dependent” children differently so make sure you know who is covered before you buy any plan. Some will define dependent children as all unmarried children up to age 21 residing in your household or up to 25 if they are full time students.
Some will also cover children of any age who have physical or mental impairments under their family plans. Others will cover children who are financially dependent on their parents under family plans, but certain age limits still apply.
Each year there are more and more different plans designed for family groups so you need to shop around. Insurers are most anxious to tap into the youth market and breaking in via family plans is one way to do it.
Certainly you should not make the mistake of thinking travel insurance is only for snowbirds or mature travellers. Children, teens, and young adults make up the greatest segment of the future travel market, and they are not immune to the accidents and sudden illnesses that can plague any traveller.
Unfortunately, foreign hospitals have no kids’ rates or holiday specials for teens.
Check out our travel insurance options!