What is business travel insurance? - Click Travel

As the person in charge of managing travel at your organisation, it’s essential to make sure that your employees are protected against unpredictable situations whilst on a business trip. Business travel insurance can take care of most of your worries and can offer great coverage and protection so that your business activity can continue uninterrupted.

 

What is business travel insurance?

Business travel insurance gives you the same cover as you would get when taking out regular travel insurance for a holiday. However, it’s specifically tailored for business needs and has a few different perks.

 

What does business travel insurance cover?

Corporate or business travel insurance offers a similar cover as a standard insurance policy, but there are a few differences which make it suitable for companies and its travelling employees:

  • Equipment cover, including laptops, tables, phones and other devices
  • Lost or stolen company items/money
  • Airline bankruptcy cover
  • Cancelled/missed flights or connections cover
  • Hotel cancellation cover
  • Medical treatment and transport expenses
  • Lost baggage cover

What is included differs from one insurance provider to another, so you should make sure that you check the policy before buying to ensure it has everything you need covered.

 

What are the different types of business travel insurance?

If you or your team is only travelling for business occasionally, it’s likely that a single-trip policy will be sufficient. A single-trip policy offers the same level of cover as most other business travel insurance policies, but it requires you to buy insurance for each business trip you or an employee goes on. The result of this is a lot of admin for the person responsible, even for a small number of trips. If you find that buying business travel insurance for each trip becomes too much work, then you should consider an annual travel insurance policy.

If your employees travel regularly for business, an annual multi-trip travel insurance policy with business cover is going to be much more suitable for you. Whilst the cost initially is higher, annual business travel insurance cover tends to be more cost effective over the one year period than buying new insurance for each and every trip. While the details vary from one insurance company to another, usually having an annual insurance policy would cover your employees for a period of one year, with a maximum limit of 31 days per trip.

Whilst a multi-trip annual policy covers your travellers on business trips in multiple countries, keep in mind that it’s important to let the insurer know where your employees will be travelling to. Insurance policies can vary depending on the destination country, as different levels of cover might be needed. Typically, your insurance company will offer cover for either European travel or worldwide travel. You should bear this in mind when choosing your cover, to make sure that your employees are covered for all potential trips.

 

Do I need business travel insurance?

Unfortunately, standard travel insurance does not tend to cover tech devices and equipment. To make sure everything is covered, it is highly recommended you purchase business travel insurance for your employees. As an employer, you also have a responsibility for your travellers well being and duty of care, and business travel insurance will ensure you are providing this to your employees.

 

Exclusions with a business travel insurance policy

Like a standard travel policy, the list of exclusions is the same for a business travel insurance policy. You can expect the following to be excluded from your policy:

  • Any undeclared medical conditions or treatment
  • Claims as a result of intoxication under the influence of alcohol or drugs
  • Any valuable personal items
  • Risky activities such as adventure sports
  • Items that are left unattended

 

For any advice on choosing a business travel insurance policy for your company, please get in touch with our team today.

Click Travel offers an all in one platform for booking and managing trains, flights, hotels and car hire with 24/7 customer support, helping you keep corporate travel organised. We aim to provide services that help your company reduce the cost and complexity of business travel, helping you focus on your business.

About Author:

Alex Detheridge

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Alex is our Marketing Assistant, responsible for all the day-to-day marketing activities at Click Travel. Follow