Most insurance companies that offer products do not cover business travel insurance separately. You may have to take the annual multi trip policy and choose additional cover for costly business equipment like laptops and personal digital assistants. This article makes you aware on:

• What is business travel insurance?
• What are the various benefits that an organization can avail by using business travel insurance policy?
• What are the various types of business travel insurance?

Most insurance companies that offer products do not cover business travel insurance separately. You may have to take the annual multi trip policy and choose additional cover for costly business equipment like laptops and personal Digital assistants. Some insurance companies provide them as a separate package. As for a few facts about business travel insurance is that business travelers have this policy because their employer has taken an insurance policy for its employees.

However with most business travel insurance the cover is low so when eventualities occur the employee realizes the insurance cover of the company was not adequate. While in most cases the employee realizes he was not covered by travel insurance as the company he is working in did not take any policy.

You may be an employee or are a self business person but without insurance protection you may have to bear the cost. Companies offer different premiums and service depending on the country of your residence. Travel insurance business is different in the US when compared to European countries. There are other travel companies that cater specially to the needs of business travelers for accommodation and travel. Association of business travelers offers added facilities to business travelers.

If you are a traveler and are already covered by an annual trip cover then there are a few facts that you should know. The standard of claim under various covers is low and is not suitable for business related cover. Therefore your travel insurance policy requires more/raised benefits. You can raise the benefits by choosing a policy specially meant for business travel such that it covers costly business related equipment and other costs.

Travel Insurance And Cover For Business Traveler

Calculation of premium will depend on a number of factors like age, level of cover, occupation as well as previous insurance history. Some packages give comprehensive cover other requires you to make a choice.

• Trip cancellation/interruption in case of serious illness/death of close family member.
• Baggage delay and loss which covers valuable items as well.
• Loss of Business equipment like laptops, personal digital assistants or communication equipment.
• Sports equipment loss like golf clubs (a lot of business is discussed and finalized while golfing) as well as green fees in case of a missed trip
• Scuba diving and ski equipment is covered in some cases.
• Money and document loss covers even theatre tickets (some take their business partner to a theatre or restaurant to discuss business)
• Personal Liability
• Loss due to Hijack/kidnapping or mugging is covered
• Medical Expenses
• Accidental death and dismemberment cover which in some cases also includes repatriation
• Emergency Medical assistance and advice 24/7.

Added Benefits To A Business Traveler

These pertain to the company and the policy you choose. It could be an annual multi trip or a single trip policy for business purpose.

• Before you go - replacement Colleague provides for a colleague replacing you in case you cannot make it for the presentation with a potential new client. You are paid for a business colleague to take your place.
• Return for recommencement of trip at a later date
• Membership to Priority Pass for frequent travelers which provides you access to the airport VIP lounge at over 450 airports. This is not available for single trip business travel insurance policy.
• Variable trip size 21,30,45,60 days trips
• Winter sports cover
• Baggage declaration for further saving on premium
• Waiver on excess/deductible
• Kidnap and ransom/extortion (read the clauses of the company for further details)
• Hijack or detention
• Car rentals and hotel discounts if you were to avail services of some insurance companies
• Travel related information and services are provided (depends on company)

Continue to: Eligibility Conditions For The Policy

Bookmark this page Email this to your Friend Add this page to del.icio.us