Types of Business Travel Insurance Coverage

Small business owners and employees must travel for many different business-related reasons.  Whether it’s to meet clients, demonstrate products, attend trade fairs, or even make sales calls, your travel is important to the health and bottom line of your business. That’s why it’s important to make sure you get the right kind of business travel insurance to meet your needs.

  • Emergency Medical Evacuation Insurance – This insurance isn’t strictly necessary for all business travel, it is wise for anyone going to underdeveloped nations or remote areas as it covers the costs of evacuating your employees, by helicopter if necessary, to the appropriate medical facilities or even back to the United States when needed.
  • Coverage for Luggage and Personal Belongings. This type of coverage helps reimburse passengers for luggage that was lost, stolen, or damaged.
  • Medical and Dental Coverage. While not quite as exotic as the emergency medical evacuation insurance, medical and dental coverage is important anytime employees work in areas you aren’t positive accept your business insurance policies.
  • Travel Delay Coverage. This coverage helps employees cover costs required to stay additional nights through no fault of their own. It will help cover some of the costs of transportation, accommodations, and food.
  • Trip Cancellation Insurance. This policy needs to be as broad as your insurance carrier allows. It should cover things like hurricanes, volcano eruptions, tour groups going out of business, crippling labor protests, and even political unrest in particular regions as grounds for cancelling. This type of coverage allows you to recover some of your losses when it becomes necessary to cancel trips for any of the covered reasons.
  • Accidental Death – Flight Accident. This type of coverage provides benefits to the traveler’s beneficiaries if there is an accident or crash during the course of the trip.

You need a policy that meets your needs when it comes to benefits above and beyond all else.

You might also consider purchasing a comprehensive annual travel insurance policy that offers blanket protection for a few specific travel problems rather than buying for each individual trip you or employees take on behalf of your business.

When buying travel insurance, look for policies that offer the services you need without bundling in or attempting to sell you several services that aren’t of value to your business. Following this great advice will help you get the plan you need for business travel far and wide.