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What is business travel insurance and is it essential?



Business Travel Insurance is essential when travelling abroad for business. It ensures you are covered in the event of something happening.



What is travel insurance and why is it important?

Travel Insurance provides security and financial protection in the event of something occurring or going wrong during the trip. The pandemic that occurred at the beginning of 2020, has transformed the way people travel, reinforcing the idea of people getting business travel insurance. Business travel insurance is also known as a “policyholder” from certain financial losses that may take place throughout the duration of the trip.



What does business travel insurance cover?

Although policies are tailored specifically towards your business-related needs, policies typically protect against a broad range of losses. This can include delayed flights and luggage, last-minute trip cancellations as well as medical emergencies. Insurance companies will also cover policies such as:



Medical coverage:

This is vital when travelling abroad for business. This helps cover the cost of emergency medical expenses during the trip. Coverage varies between insurers; however, insurers typically include:

·Medical Bills: The majority of policies will cover all hospital expenses, medical treatment and any injuries endured during the business trip.

·Medical evacuation: In the occurrence of an accident this covers the cost of transportation to another medical facility.



Business equipment:

Most companies will ensure that in the event that items relating to the company such as laptops and phones etc are covered in the occurrence of them being damaged or stolen.


Personal possessions (such as baggage coverage):

Business travel insurance policies will cover non-work-related possessions. This includes your own luggage. The majority of policies come with per-person and per-item caps and therefore, often reimburse for the depreciated value of the items.



Our tips on what to consider when buying travel insurance:

·Ensure you’re honest about your medical history: It is highly important that you ensure you provide your insurer with all the information they ask for. Not only will this benefit you, but if you fail to answer truthfully your claim may be rejected.

·Consider the cover and not just the price: The cheapest deal isn’t necessarily the best and you should consider the policy that is the best fit for you. Ensure you read the main benefits and exclusions that your policy covers.



If you’re interested in taking the next steps in your career working in the insurance sector, apply with us today and we can find the perfect placement for you. Feel free to call us on 0203 225 5584 to discuss everything in further detail.


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