If your firm pays for your business vacation, you may not require business travel insurance. Business travel insurance may seem unnecessary without prepaid expenses to lose. But good travel insurance covers more than trip cancellation.
Having both domestic travel insurance and international travel insurance for business is smart because:
- Your company may not cover your medical expenditures if you get sick or injured abroad.
- Lost, damaged, or stolen luggage and personal belongings may not be covered.
- They may not cover a last-minute return flight if you have a domestic emergency and need to cut your trip short.
- Personal travel on a business vacation is not covered without travel insurance.
- Travel insurance is recommended for self-employed workers who pay for work trips. If unexpected occurrences delay your vacation, you risk losing your trip investment.
Business travel insurance covers these primary forms of coverage:
Business trip cancellation insurance
You would not require this insurance if your company paid for your trip. If you’re paying, trip cancellation insurance can protect your investment. You can file a claim to recover prepaid, non-refundable business trip expenditures if you cancel for a covered cause.
- Company matter
You could cancel your business trip to handle an acquisition, merger, bankruptcy, default, or government-mandated product recall.
- Company harm
You may stay behind to clean up if fire, flood, vandalism, theft, or natural disaster destroys your or your travel companion’s business. To qualify, you or your travelling companion must be a catastrophe recovery team member and corporate policymaker.
- Boss demands you stay
Under this policy, you can cancel your trip if one of you has to work. The requirement must be proven. Trip cancellation insurance only covers some things. You cannot make a travel cancellation claim if your client is no longer available at your destination.
- Business trip delay insurance
If storm warnings cancel your Dubai-London connecting flight, your international travel insurance plan’s trip delay benefits can help.
Severe weather and airport emergencies are typical delays. Your travel delay insurance can cover a hotel stay in Dubai, a dinner, and personal care products for the evening.
Most trips delay travel benefits don’t start until after a policy-specified waiting time, such as six hours. Check your policy for the waiting period and daily and lifetime benefit limits.
- Work trip interruption insurance
While on a business trip, your spouse calls to report your son was in an accident and is in critical condition. Trip interruption travel insurance would cover a last-minute coach flight home and a taxi to the airport. It would also cover prepaid trip expenditures like a city tour and translator.
Business Trip Medical Insurance
Travel health insurance is essential. If you become sick while travelling, travel health insurance covers medical treatment, imaging, lab work, prescription, and hospitalisation up to your plan’s limits.
Get travel medical insurance after your first trip deposit to claim a pre-existing medical condition exclusion waiver. If a long-term health issue like asthma flares up while travelling, you can recover medical expenditures. Medical evacuation travel insurance covers air ambulance transfer for serious medical emergencies. It covers emergency medical transportation up to policy limits. Unless your organisation has purchased travel medical insurance, you are responsible for these costs.
- Trip interruption insurance
Missed connection travel insurance is unnecessary if your work trip involves a short, direct flight to a neighbouring state.
Travel insurance might reimburse you if an airport delay makes you miss part of your trip. It can be added to a travel plan or sold separately.
- Baggage insurance
Baggage insurance can replace damaged, lost, or stolen luggage and its contents. Read your policy to see what’s excluded. Baggage loss benefits include per-person and per-item limits.
Find the most appropriate plan for you by exploring travellers’ insurance apps.
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