You may already have your family holiday booked for this year – but have you sorted out your travel insurance? What you may not have realised is that you could save yourself a few pennies by investing in a family travel insurance policy.
We’re here to explain what a family travel insurance policy is and where to find the cheapest deals.
Family travel insurance is a group policy that typically covers one or two adults who live at the same address, plus at least one child (and up to a maximum of eight children, depending on the policy). Any children included in the policy must be under 18 and live with you permanently.
There are some big advantages to taking out a family policy rather than an individual one. Let’s break it down:
Cost – A family travel insurance policy often works out cheaper compared to buying an individual policy for each person in your family. Some insurers will even insure children for free, bringing the cost of the premium down.
Simplicity – A family travel insurance policy can make your life easier as it offers one umbrella policy that covers everyone.
Extra coverage – A family travel insurance policy may give you higher levels of baggage cover, alternative accommodation and increased cancellation cover. This is because you will be travelling as part of a group, rather than as an individual.
If you are considering a family travel insurance policy, here are some ‘must-have’ features to look out for:
Cancellation and curtailment – This feature will provide you with cover if you need to cancel or cut short your holiday.
Medical cover – Nobody plans on getting ill or injured while on holiday, but medical cover can make sure your family is protected should the worst happen.
Personal liability – This will cover the cost of any damage or injury you may accidentally cause while you’re away.
Missed departure or delay – If your flight is delayed because of an event detailed in your policy, you could be compensated for any additional travel expenses you might incur.
Baggage – This feature will cover you if your baggage is lost, stolen or damaged. When choosing your policy, make sure you have enough cover to protect baggage for the whole family.
One thing to be aware of when considering family travel insurance is the need to check the policy in regards to cover for children who do not live with you permanently, such as step children. Also look at whether or not the policy covers family members who are travelling separately.
You may find if you purchase an annual multi-trip policy you will be covered even if you travel without your children, but it is always worth double checking.
Once you know what to look for in a policy, then you can start to compare deals. It is often best to make use of comparison websites, such as MoneySupermarket, Compare the Market, Go Compare and Confused.com. With these sites, you can enter your criteria for a policy and they will generate the cheapest deals available.
All will provide a range of options from which to choose. However, it is worth bearing in mind that the cheapest option is not always the best option. Try to make sure your policy includes everything you need, and that it provides ample coverage for the whole family.
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