A family holiday can take a lot of time (and stress) to organise. From finding the perfect flight and airline for travelling with a baby, to organising accommodation to fit all the troops, there are endless things to tick off your to-do list.
You have to find activities to suit everyone, triple-check your lengthy packing list, figure out how to cart everyone from A to B, and so much more. And all of this needs to stay within a family-friendly budget!
But once all the planning and organising is done and dusted, your holiday should be about making memories with your loved ones. And that’s why, no matter where you’re going, or who you’re going with, family travel insurance is a must.
But when you're looking at family travel insurance policies, how do you make sure you get the right policy for your family and your holiday? For the most part, travel insurance is travel insurance. If you’ve taken out a travel insurance policy before, you know what the go is. But there are a few things you should consider when it comes to family travel insurance before you purchase your policy.
Defining a family
Different travel insurance providers have different definitions of what makes up a family, so before you buy, it’s best to check out who would be covered under the policies you’re considering. In general, most family policies will cover you (the policyholder), your spouse (or legally de facto partner), and your dependents.
The number of dependents covered under a single family policy also changes between providers. Some family policies only cover two adults and two children, and any extra dependents will add to the cost. Others can cover up to 25 people under the one policy, perfect for covering everyone on a getaway with the extended family (even you, Great Aunt Bertha!). Be sure to check out who is covered with each provider when comparing policies.
What is a dependent?
Next question to consider: what is the definition of a dependent for your travel insurance provider?
Most travel insurance providers define dependents as your children, grandchildren, step children, adopted children or foster children; under the age of 21; not in full time employment, and travelling with you. But some insurers have different age limits (e.g. 18 years of age instead of 21), so you should confirm this, too.
The good news is, if all of the above boxes are ticked, your dependents are usually covered for free under a family insurance policy.
Those insured together must travel together
Did you read the part above where we said travelling with you?
That’s a pretty key part of a family travel insurance policy. For everyone under the policy to be covered for your trip, you must all be travelling together for the duration of your trip. If you’re going to be splitting up on your family holiday for any reason, you might want to consider a different kind of policy to get the best cover for your circumstances.
Understand your limits and inclusions
As always, when picking a travel insurance policy, you should read the Product Disclosure Statement (PDS) before you decide to buy. This is especially important to understand when you’re deciding on a family policy, as there may be a few differences to any single policies you may have purchased in the past.
Firstly, the limits put in place for a claim usually apply to the family as a whole, rather than per person. So if you’re travelling with 3 tablets, 4 smart phones and a laptop, the limit in place for luggage and valuables may not cover the full amount they’re all valued at, should they get lost or stolen.
Secondly, you need to be aware that not all activities your kids might want to try will automatically be included in your travel insurance policy. Things like go-karting, abseiling and zorbing are usually not on the list, but you should read the inclusions first to double-check what you will and won’t be covered for.
Single vs. Annual
Not specific to family travel insurance, but you’ll need to consider whether to take out a single-trip policy or a multi-trip annual policy. If you’re only planning on the one family holiday this year, it may be more economical to go with a single-trip policy. But if you’re planning a few holidays throughout the year, it may be more budget-friendly in the long run to go with the multi-trip annual policy.
Basic vs. comprehensive
Lastly, you’ll want to consider what level of cover you want to have for your family. Obviously, the more basic you go, the cheaper your policy will be, but you’ll also have lower cover. If you opt for a comprehensive policy, you’ll get a higher level of cover at a higher premium, too.
Researching, comparing and choosing a travel insurance policy for your family holiday isn’t going to be the highlight of the trip – or even the highlight of the planning of the trip. So let one of our FXperts help you find the right travel insurance policy for your family. We can talk you through the different options we offer through our partner, Cover-More Travel Insurance^. You'll be one step closer to enjoying your time off with your loved ones – travel insurance and peace of mind in tow!
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