Business Travel Insurance | What Does it Cover?

What is business travel insurance?

For a business traveler, a quick recovery from travel mishaps like a lost bag or cancelled flight is vital. A good business travel insurance policy could help you get back on the road quickly if anything happens along the way. Some companies may take these plans out on behalf of their employees, or else it may be left up to the individual to make sure they have sufficient cover.

What are the benefits for your business? Here are some of the options available:

  • Aims to provide peace of mind for important business trips.
  • Valuable business equipment can be covered for loss or theft.
  • Employees have medical and financial protection on business trips, up to certain limits.
  • Option to add holiday insurance for employees and their family in some cases.
  • Emergency medical treatment and repatriation.
  • Pays for replacement staff to be sent out.
  • Local cover for business trips within own country available for an additional premium.
  • Global cover travel insurance
  • Pre-existing medical conditions considered. Always stipulate these when applying.
  • Suits, gadgets and travel documents could be covered against loss or damage.
  • An annual multi trip policy usually allows the traveler to take as many trips as they like within a 1 year period (each trip typically covered for up to 31 days).
  • You could be reimbursed for any costs as a result of cancelled flights or if the airline goes bust.
  • Some policies could also offer golf clubs and other sports equipment cover as standard. Great if you are planning on hitting the greens on your trip.

Tips for selecting and making a claim on the policy

  • Like most insurance plans, the options list will be extensive, so always shop around for the best cover for your needs and budget.
  • As always, check the small print, policy exclusions and excess so you know what you’re getting with your policy.
  • If your items are lost or stolen, and you need to make a claim, make sure you report the incident within 24 hours. You will also have to provide proof of the police report, evidence of ownership and value (such as receipts) etc.

By taking the necessary precautions, it will give you peace of mind so that you are able to focus on the business tasks ahead.

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