Corporate Travel Insurance
For a variety of reasons, the coverage that a standard leisure travel insurance policy represents does not, in most cases, suit the business and /or corporate traveller. Key differences include;
- Coverage extends to the whole business, not just an individual
- Cover extends to all Employees, Directors, Officers and Consultants of the Insured, including accompanying spouse & dependent children
- Leisure travel during a business trip is covered. Leisure-only travel can also be included
- Pre-existing conditions can be covered should doctors deem an individual is fit for travel
- Offers higher sums insured across a range of potential risks
Given the nature of Corporate Travel, having the right insurances and coverage in place is crucial to ensuring you maximise your time effectively and efficiently, especially in the event of a claim. Should you be a frequent business traveller, Coverforce can arrange an annual Travel Insurance policy that will cover you appropriately. An annual policy is usually a more cost effective option than taking out multiple policies.
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 car excess
- Cancellation expenses due to delayed flights or illness
- Kidnap and ransom
- Personal Liability
- Up to 180 days in total
Who needs corporate Travel Insurance?
You should consider arranging travel insurance if:
- You are planning a trip overseas;
- You are planning a trip within Australia involving plane travel, tours or hotel stays where cancellation fees are costly and you would be substantially out of pocket should anything happen; and
- You are a frequent business or personal traveller
Having a current health insurance policy does not always mean your overseas medical expenses will be covered, check before departing to ensure you are 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 are considering foregoing travel insurance it is a good idea to contact them and confirm that you will not be affected.
Please also note that not all locations are covered. Always check with your policy that exclusion(s) are not in place.
Make sure that all policies provide an unlimited medical benefit.
If your travel is greater than 180 days, you may require an expatriate policy that extends the coverage whilst overseas.