Your business can take a big hit from unexpected expenses and lost staff hours caused by travel. From lost/delayed flights and stolen baggage to sudden medical bills and the problem with hotels (like loss of payments and deposits on pre-planned activities), a lot can go wrong even when you have meticulously planned your travel itinerary.
If your business needs your employees to work for travel frequently, having corporate travel insurance can help take off some of the stress triggered by such unplanned and unexpected travel expenses. Apart from giving your corporate balance sheet some respite, such insurance would also bring you peace of mind.
Buying annual corporate travel insurance policies that offer coverage for executives and employees is a wise, cost-effective choice. In case your company allows spouses and dependants during business tours, you should consider opting for policies where the coverage extends to those accompanying the primary beneficiary.
Though corporate travel insurance policies vary, most usually include:
- Round-the-clock worldwide assistance
- Personal accident and sickness coverage
- Coverage for outpatient treatment and hospitalization
- Cover for rental vehicle excess
- Cover for personal liability
- Cover for cost of natural disaster and political evacuation
- Cover for cancellation, loss of deposit and curtailment expenses
- Coverage for stolen, lost or
- Coverage for expenses incurred on returning the original employee and/or sending a replacement
- Coverage for costs associated with identify theft, including lost wages, unauthorized use, legal expenses and miscellaneous expenses
How to get it
From small and medium businesses to large establishments and anything in-between, corporate travel insurances are available in a wide variety to suit all your needs – no matter whether they relate to domestic travel, international trips, or both. To know more about your corporate travel insurance options and find the one best suited to your requirements and budget, please call SD Insurance Brokers or contact us online.
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