Whether it’s traveling alone or with the family, it is always better to be prepared. Thanks to the availability of different kinds of travel insurance, you can put your mind at ease while you are out abroad.

At first glance, the needs of a family trip vary greatly from a solo or business trip. When traveling alone, you just need to take into consideration your personal needs, and the location where you are heading to. But if you are going to travel with family members, there are more people to worry about aside from yourself.

There is always the risk of sudden injury or illness to kids, or to an adult – which could leave minor children without an attendant. And of course, the unexpected last minute cancellation or loss of luggage which could ruin your family’s dream holiday (Granted, it is also an unpleasant thing when you’re solo, but it’s easier to deal with then when in a group).

As a lone traveller, it’s easy to pick out what kind of insurance you need to get from the three. But what about when you go out as a family?

What is the best type of insurance for a family trip?

Choosing the best type of insurance for a family trip is actually very similar to choosing insurance for yourself. You should think about how much your belongings are worth, where you are going, the cost of your holiday, how frequently you travel – only with the additional (but very important!) concern of how many are travelling with you and their respective ages.

If you travel with your family once or twice per year, a single trip family holiday insurance policy could be the cheapest option when it comes to arranging comprehensive protection for everyone. If, however, you travel three or more times a year with your family, this is unlikely to be economical for you.

For frequent travellers, multi-trip or annual travel insurance is the best type to avail. It’s more convenient since you don’t have to apply every single time you go on a trip. You can just sit back and relax. The only downside here is that the coverage is fixed. Though some may include family members in the policy, you might still need to buy additional insurance if the kind of multi-trip or annual travel insurance you have is only for your regular business trips and not a family holiday policy.

More about family holiday insurance policy

As the name suggests, this travel insurance coverage is aimed at families travelling together, with the party usually consisting of two adults and up to four children until to the age of 18. Remember that this can still vary from insurer to insurer, so you should always make it a point to check the fine print. It is worth noting that some insurance policies may contain restrictions such as age, whether the family members all live at the same address, or whether you are a single parent family.

Purchasing an individual policy for each member of the family can be unnecessarily expensive, not to mention time and effort consuming. It’s much more reasonable to get one policy that will cover the whole family, which is why family holiday insurances are popular with jet-set households.

To learn more about the pricing of travel insurance policies and how to choose the most cost-effective policy for your budget, you can always compare quotes online. Most insurance providers allow you tailor the policy to your needs by changing the amount in the key areas of cover, such as baggage and cancellation cover.

You can also easily compute how much your daily travel insurance rate is through a handy online calculator. But as always, try to do a bit of research on the companies you are looking at to buy insurance from, regardless of the type. Being covered by a trustworthy firm is important especially when you’re overseas.