A Beginners Guide to Business Travel Insurance

For business trips, a corporate insurance plan is necessary for those needing something more than standard cover whilst retaining the benefits of a standard travel insurance policy – cancellation, medical, luggage etc

Business travel cover will insure your laptop, mobile phone, palm & other related business equipment & include the hiring of replacement items. This also includes the recreation of business documents lost, damaged or stolen during travel.

3 Key Advantages of Business Travel Insurance

Corporate Travel Cover should add 3 key advantages to the plethora of benefits offered by a standard holiday insurance plan:

Business Equipment Cover
Hire Business Equipment Cover
Recreate Commercial Documents

That is the insurer should pay for accidental loss, theft or damage of equipment (Computer & accessories, other commercial related equipment and business documents).

The insurer should also pay you for the hiring of alternative business equipment in the event of accidental loss, theft or damage to business equipment, including misdirection or delay in transit of said equipment.

With regards to work related documents, the insurer should pay for the re-creation of business documents, plans & presentations if they are lost stolen or damaged.

Question: What if I am going on a combined holiday & work trip? Will a business insurance policy cover me?

Answer: It should. However if you travel regularly throughout the year, you may be interested in purchasing a multi trip insurance plan.

Business Travel Insurance vs Regular Travel Insurance

Remember, with work related travel, lots of wildcard scenario’s can occur.

The other company can cancel the meeting at the last minute. This often leaves the travelling company to foot the bill, however this would be covered by standard trip cancellation.

Other incidents can befall a business traveler: general illness, business critical equipment can be stolen, lost or damaged. These factors are all things to consider when booking a business trip.

With regards to the value of your equipment, business trip insurance will provide far more cover than a regular travel insurance policy.

While a regular holiday insurance policy will provide coverage for lost, stolen or damaged luggage, this is not the same as the specific cover for business related equipment.

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