You’re a broker or a travel agent, and a client has just come to you saying they need travel insurance. Sounds like a pretty routine day for those of you who work with insurance on a regular basis, right? But here’s the thing: your client is telling you they need a travel insurance policy that covers a whole bunch of people traveling with them; They’re not just purchasing this policy for themselves and a few family members or friends. They’re looking for a policy that’s going to cover them and a large number of other people, usually for a one-off trip or something that may not be consistently occurring. What they need is group travel insurance.
Well, if you’re a novice broker or travel agent, or you simply have never come across such a situation, you may not know who the right people to sell group travel insurance plans are. Are they someone organizing a business trip? Are they a tour operator? The fact of the matter is, group travel insurance may be the right choice for many different groups that are traveling. So what are some common examples of groups that utilize group travel insurance? Let’s find out:
You may have a client who is either an event coordinator or planner in an organization come to your office looking for an insurance plan that covers all the attendees of the conference or seminar. In situations like this, one option is to offer group travel insurance to your client, which he or she can then add on as part of the cost for any attendees who register to attend the conference.
School Trips Abroad
When school teachers and administrators come to your office talking to you about a high school class trip abroad, or other experiential study abroad experiences, one thought that may cross your mind is simply requiring each of the students traveling to purchase a policy before venturing out. Another option is having the administrator purchase a group insurance policy and add some of this cost on to the price for each student to attend the trip.
This one may be a little confusing. When someone tells you they're going on a trip with their family, the typical response may be to suggest that the individual purchase a travel insurance policy, and then add extra insureds who would be covered under the same policy. Keep in mind that there should be one policy per residence. So, if it's a family reunion with people coming from different locations, each household should purchase a separate policy. The advantage of buying a plan is that the family members all receive the same coverage.
Packaged Tour Groups
Let’s say the owner of a tour operation or a touring company comes to you needing to make sure each of his travelers are insured before heading off on the voyage. Now the interesting thing about this situation is that there are two common ways to go about getting insurance: First, you could recommend that the tour operator send a link to the insurance policy page so that each individual can purchase a policy on their own time.
Or, you can recommend that the tour operator purchase group travel insurance for the entire group, and include the cost of that insurance in the cost of the packaged tour. Choosing this option can reduce the chance of the customer not purchasing the right policy, or in fact, forgetting to purchase a policy altogether.
We hope we’ve given you some insight regarding who is the best candidate for group insurance. Sometimes the lines can be blurry. Should each individual purchase their own policy? Should they all be put under the same one? It can be tough to determine, so don’t hesitate to reach out to us if you’re struggling to figure out what the best recommendation is for your client!