If you regularly travel for business, you should have some type of business travel insurance policy. Essentially, this is a type of insurance policy that is tailored to the needs of a business traveller. Most of these business travel insurance policies for will include coverage of any travel disruptions, baggage loss and rental car accidents – to only name a few.
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Even though it is possible to buy an insurance policy that will cover a single trip, but it is advisable for frequent business travellers to opt for an annual business travel insurance policy – since they are usually a better deal. Also, business travel Insurance plans are usually more affordable than regular insurance plans, depending on coverage required for the policy. It is also less expensive to buy a domestic business travel insurance scheme as opposed to insurance cover for international business travels.
On average, these policies will cover up to $60,000 in damages, whether it is a single-trip policy or annual policy. Whereas regular insurance plans only cover about $30,000.
It’s good to know that baggage coverage goes beyond just the checked-in luggage. It also covers cell phones, laptops, projectors, or any other equipment the business traveller might carry.
In case the business trip gets interrupted by mechanical issues or rough weather, the insurance policy holder can cancel the trip and be compensated for the cost of the trip.
Business travel insurance policies also include trip cancellation insurance, which is a lot like ordinary travel insurance’s trip disruption coverage. Nevertheless, business travel insurance policies usually include more coverage, like allowing you to change accommodation so as to complete the trip.
Monies are also provided for anything that got lost or stolen during the trip. This is extremely important if airline tickets or passports are lost during a trip.
You might also be able to get legal cover in case you are accused of a crime or if someone commits a crime against you. In general, baggage or equipment that is stolen will be covered. In certain cases, even abduction/kidnapping ransoms will be reimbursed by the business travel insurance policy.
If there’s one thing you’ll need to be certain of, it’s medical expenses. You need to be completely certain that all your medical expenses are covered. Also, establish what type of cover is provided in case of illness. The majority of travel insurance schemes only cover emergency evacuations but don’t cover other medical expenses.
Luckily, even with all the coverage options available – business travel insurance is usually quite affordable. Other features that might be included with the insurance plan are side assistance and life insurance.
This article was provided by food lover and travel enthusiast, ScribeZA, for a 4 star hotel that has one of the best Conference Venues in Cape Town.
