As a business traveller, you have different needs and concerns than the average vacationer. Luckily for you, business travel insurance can help fill in the gaps and worries, giving you peace of mind throughout your trip. Keep reading to learn more about business travel insurance and why you need it.
What’s business travel insurance?
Business travel insurance covers you when you travel abroad for business purposes. Depending on your policy, it can cover anything from lost or damaged business equipment to medical expenses and trip cancellation.
Although business travel insurance is designed for corporate employees, any business traveller can use it, e.g., self-employed individuals. As long as you’re travelling for business and not leisure purposes, you can purchase a policy to protect you financially.
Why do you need business travel insurance?
If you’re a business individual who takes multiple or single business trips every year, a comprehensive business travel insurance policy provides appropriate and effective support and protection. For instance, if you’re injured while abroad, it’ll pay for your medical expenses so that you’re not responsible for substantial costs.
Additionally, if you travel with expensive equipment, such as laptops and tablets, purchasing cover ensures you’re protected from damage, loss and theft.
All in all, business travel insurance minimizes your financial risk and liability, allowing you to focus on what’s important – conducting business.
Does travel insurance cover business trips?
Never assume your policy for vacationing abroad will come through for you when you travel for business. This is because the typical travel insurance policy doesn’t cover business trips. Why? Business travellers have a different set of concerns, so you’ll have to buy a separate travel insurance policy for your business travels.
What can business travel insurance cover?
Business travel insurance policies are available in various options, but the five primary categories your policy should cover include:
• Trip cancellation
• Medical coverage and evacuation
• Corporate equipment loss and damage
• Other personal loss
Remember, you can always get more coverage by purchasing add-ons.
Use our tools and resources here at Compare Insurance to find your ideal business travel insurance policy. You can compare quotes from different providers to find the right cover at a competitive price to find the best travel insurance companies.