What is Corporate Travel Insurance?
Corporate Travel Insurance provides insurance cover for business travellers. Corporate Travel Insurance offers additional benefits to standard leisure travel insurance including:
- Cover that extends to the whole business, not just the individual,
- Cover that extends to all Employees, Directors, Officers and Consultants of the Insured person, including accompanying spouse and dependent children,
- Cover for leisure travel during a business trip. Leisure-only travel can also be included,
- Cover for pre-existing conditions if your doctor deems you fit for travel,
- Higher sums insured across a range of potential risks.
Do I need it?
Corporate travel insurance is beneficial for any businesses with employees who travel overseas or throughout Australia where the travel involves planes, hotel stays or tours.
As Corporate Travel Insurance can be extended to include employees and thier families for leisure travel it makes an excellent low cost employee benefit.
What does it cover?
Most Corporate Travel Insurance policies will cover you to some degree for:
- Emergency hospital and medical expenses,
- Replacement of lost travel documents and luggage,
- Accidental death, disability and loss of income,
- Hire care access,
- Cancellation expenses due to delayed flights or illness, Kidnap and ransom,
- Personal Liability.
- Having a current health insurance policy does not always mean your overseas medical expenses will be covered. Check before departing to ensure you’re safe. In the event that you are covered, you may be able to reduce your travel insurance premium, so let your broker know before incepting a policy.
- Many tour operators will not allow travellers to depart or to participate in particular activities without travel insurance. If you’re considering foregoing travel insurance it’s a good idea to contact them and confirm that you won’t be affected.
- Please note not all locations are covered. Always check with your policy that exclusion(s) are not in place.
- If your travel is greater than 180 days, you may require an expatriate policy that extends the coverage while you’re overseas.