• International Insurance Blog

  • Saturday, October 21, 2017

There are times when visitor’s insurance needs to be bought for more than one person travelling together. There is an option to buy a combined policy for the entire group or an individual policy for each member of the group. Which one should be preferred?

A group policy offers some benefits if the number of people constituting the group is large. Since the risk gets distributed, a better premium can be expected. It also provides the additional benefit of a single policy number and a more centralized approach to seeking claims and receiving benefits.

But if the group has less than four people, it doesn’t make much difference in terms of the policy premium. So, it might seem to make no difference one way or the other. Right? Maybe not!

There are a few significant benefits of buying individual policies.
Cancellations, renewals and extensions for an individual are far simpler than updating the combined policy.
Visitors might be travelling to a certain place at the same time, but might be returning on different dates. In that case, it makes more sense to have separate policies. Plans might change unexpectedly mid-way too.

So, it might be a good idea to actually prefer separate policies over the combined option in most cases. Do consider all these before making a decision.

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