Everything You Need to Know About Travel Insurance for Under 18
Travel insurance is essential in safeguarding your interests during unfortunate times when traveling inside and outside the country. It lets you travel with peace of mind and gives temporary financial security regardless if you are well-off or not.
You definitely have to consider one if you are planning to travel. Aside from being an additional expense, what is it exactly and how can you benefit from it?
What is it?
Travel insurance for people under 18 years old is an insurance policy that intends to temporarily cover a person during the travel period. It is typically activated only during the inclusive dates, although some insurance companies also offer travel insurance that covers the entire year, albeit at a significantly higher price.
Usually, this type of insurance covers anyone below 18 years old. However, minors can also be categorized into zero to 15 and 16 to 18 years old. Younger policy holders might be charged a little higher because of their susceptibility to accidents and categorical “carelessness.”
Under 18 travel insurance
Minors below 18 might also be covered free of charge if they are enrolled together with the entire family when travelling as a group. Each member of the policy might still be covered when travelling separately, but this usually comes at a slightly higher price.
You should also know that an insurance policy that covers minors when travelling with the family might not be activated when the policy holder is travelling with people other than his or her family, like with schoolmates when on a field trip.
What does it cover?
The coverage of this type of travel insurance is no different from the coverage of policies used by adults. All policies cover medical expenses for unexpected health emergencies and necessary medical treatments. However, pre-existing conditions are usually not covered, although some insurance companies allow them for as long as the policy holder belongs to a group or family insurance, or when the policy holder has been under the insurance company for a certain number of years.
Lost luggage and personal belongings are also covered more often than not. Nevertheless, many insurance companies require the policy holders to declare the value of their items before travelling.
Personal accidents related to life-threatening activities and sports are not always covered by the insurance policy. You have to check with the company first before involving yourself with such activities, like skydiving, scuba diving, skiing, and car racing.
How can you get one?
Inquire with the companies that you deem trustworthy and credible. Different companies have different terms and conditions, so you have to conduct a research if you want to get your money’s worth.
If your family already has a family insurance, you can simply ask if you can buy another insurance policy for additional price. If the minor to be enrolled has a pre-existing condition considered as dreaded, additional medical tests might be required by the company.
How much does it pay?
The value of coverage differs from company to company, although medical coverage normally falls on the £2.5 million to £10 million bracket, usually depending on the health status of the policy holder before the travel. Lost luggage and personal belongings are commonly covered only up to £5,000.