Choosing the Right Business Travel Insurance
Business travel insurance is the most comprehensive way to protect your company’s employees and property from travel-related risks. Yet, finding the best business travel insurance policy can be a daunting task. There are so many options to consider.
A new eBook from Booking.com for Business gives insights into all the latest business travel insurance topics and trends. It breaks down a wide range of travel insurance options and helps you decide what your company’s coverage priorities should be.
Whether you’re new to corporate travel insurance or simply considering switching insurers, you won’t want to miss the practical information and advice in the new eBook.
Covering all your risks
We might not like to think about it, but business travel involves many risks. From employee health and safety incidents, to stolen property, to lost revenues caused by travel delays – any of these scenarios can cause enormous out-of-pocket costs for your company.
Did you know, for example, that the average international medical evacuation costs US$ 50,000 (EUR 40,900)? If an employee is injured on the job while travelling abroad, how would it impact your company financially?
How about non-health-related travel risks, like theft or loss of company property during a business trip? These can have devastating costs that may not be covered by your company’s existing insurance unless you include special, travel-related provisions.
(Out)weighing the costs
Business travel insurance is generally not required by law, though many countries require employers to have liability insurance to protect employees in case of on-the-job accidents. According to the eBook, standard employer liability insurance often fails to cover travel-related risks, or may have limited cover for claims outside the company’s home country.
The best way for a company to ensure its travelling employees and property are safe is to insure them against travel-related risks. Considering the high costs of an overseas health emergency or theft, business travel insurance could be a very wise investment for your company. Check out the full eBook for useful advice to help you navigate the world of corporate travel insurance.