It is not only holiday and leisure travel that involves elements of risk. Business travel insurance solutions with many sought after benefits have been created to help minimize the risks and costs associated with business travel.
As you would with any insurance policy, it is critically important to pay attention to exclusions set out in the policy wording. Knowing what are and are not covered for can turn the tide to having your claim accepted and being compensated for any financial losses incurred on your insured journey.
What you can expect from a business insurance plan
The business insurance policy that you choose should be comprehensive enough to cover all the risks that can occur during your business trip. This should also include any leisure activities that may be part of your planned trip.
Annual plans are more likely to be more favourable insurance cover for employees or business owners who travel many times during the year. Business travellers should also ensure that their policies provide adequate protection for medical and emergency expenses as well as security evacuation coverage.
To the small business owner any unexpected costs arising from missed connections, travel delays, delayed baggage and medical emergencies can dramatically affect the business’ profit margin. To protect against this, travel insurance providers have made available a number of benefits that can save a small business owner from financial loss of business travel costs.
It is more than likely that business travellers will have expensive equipment whilst travelling. Essential business tools like smartphones, laptops and tablets are worth covering, even if it means a top up on your standard cover. Loss or damage to any business products or materials that you take along on your trip may necessarily be included in the benefits listed in the schedule of benefits. It is important to clarify whether these are covered or would you need to top up the policy cover to include them.
Should you be made redundant (due to misconduct) or resign before your insured scheduled journey, you may not be covered by your travel insurance provider. Your schedule of benefits will have more information.
Innovative business solutions covered by travel insurance
Replacement colleague cover
This is a particularly useful travel insurance cover benefit provided by some policies for businesses that have employees travelling for all sorts of important meetings, presentations and seminars. The cover sees to the replacement cost of sending a colleague if you are not able to realize the purposes for the intended travel purposes.
Golf clubs and sport equipment cover
If you’re intending to enjoy a leisurely round of golf while you’re on your business trip, you may be allowed the benefit of golf clubs and other sports equipment cover, depending on your policy and travel insurance provider.
Rental car insurance
Rental car insurance cover is open to business travellers on the business travel insurance policies arranged through Regent Travel Insurance. There is no knowing what may happen on the roads while you are driving in a foreign country.
Being well covered by business travel insurance gives you the peace of mind to focus on the purpose of your trip and make it a success.
For business travel insurance policies please call Easy Travel Insurance on 087 550 4845.