If you are amongst those travellers who feel that it is only essential to insure a trip when you plan a vacation with your family, think again, a business trip may need you to get an adequate cover as well. The risks you face as a holidayer are the same as you would when you are out for business.
Basic coverage that you need to look for :
Your business trip can be affected by several risks like flight cancellation, hospitalisation due to medical emergency, evacuations due to ill health etc. Unwanted incidents like this can have a major impact on your business and scale up the cost of your trip. This is why business travellers need to have a travel insurance plan with certain type of coverage.
You must check if the plan you wish to buy covers medical expenses, cost of evacuation (due to medical emergency) and personal accident cover
Additional coverages that you can look for :
The other covers that you may consider include coverage for, delays or cancellation of the trip as well as luggage loss or delay in its arrival at destination.
Employers should consider buying travel insurance for their employees, with some extra covers which shall save a lot of money especially for any legal case that could be filed against them.
Sickness of already deputed person might adversely affect the entire business plan and sometimes would end up in loss of global orders etc., Hence employer may seek a suitable travel insurance which might bear the cost of transporting alternate employee to the destination if already sent employee is sick and should return to home country.
Buy annual plans :
Mostly, people travelling for business requirements are frequent flyers. So individuals who travel overseas more often to crack deals or organisations that send their employees on tours, should consider investing in annual travel insurance plans. This is more economical and convenient than purchasing a policy each time you need to go.