The main aim of insurance is to cover for the unforeseen events. Due to the nature of unplanned happenings we are persuaded to cover ourselves. There are plenty insurance covers for different aspects of life. One of these aspects is travel insurance. When you take a trip away from home, you will certainly have to cover yourself for unforeseen events that may occur to you or your items. It does not matter how perfect your plans for your trip are, nature can just mess them up for you without notice. As you may already know that no matter how careful you are, you cannot avoid accidents if they are happening. The only thing in your power is to be ready for them when they occur.
Main types of travel insurance
There are many travel insurance products on offer everywhere that you can use to protect yourself. Depending on your needs, you will find a cover that suits your requirements. There are two main types of travel insurance covers, the single trip and annual trip insurance. If you travel sporadically the initial alternative will suit you perfectly. One or two trips per year at the most will suit the single trip insurance cover. The aforementioned policy is inclusive and reasonably priced.
However, if you are a constant traveller you will have to take out the annual travellers insurance. I must say that annual insurance covers have some notable limits and restrictions that are crucial.
Within this category, there are policies set aside for international travel and those specifically for national travels. As expected, domestic policies only cover the essential aspects of travel. Basics such as medical evacuation, repatriation, transportation as well as luggage are covered. These insurance plans are suitable for both business travellers and holiday makers heading to any domestic destination.
Business travel insurance
Unfortunately some travel insurance plans do not cover what a corporate traveller requires. In essence, they only offer general international insurance. Having said that there are companies that require their employees to travel to various other countries where they have clients for work purposes. Consequently, the employee or employees will spend a lot of time travelling to and fro from their destinations. Standard travel insurance does not cover such trips. There are a number of business travel insurance products that you can sign up for if you are always travelling for business reasons.
Types of business insurance
There are comprehensive business travel plans.
They include a number of travel aspects.
You may leave your home in perfect health, only to get sick whilst you are away in another country. Apart from falling ill, you may get injured, or get involved in a car crash overseas or you get injured in your flight. If any or all of these happen to you whilst you are away, the policy will cover your medical bills. If you do not have travel insurance you may find that paying for treatment is expensive in a foreign country. It will benefit you a great deal to have comprehensive business travel insurance. The insurance may also cover assistance and rescue needs. There are normally exclusions that are explained in the policy such as pre-existing medical conditions. If you have a pre-existing medical condition, reveal it to your insurance company to ascertain if they would cover it. Do not take chances. Be sure before you travel.
Trip cancellation and interruptions
You may have experienced this before when you wanted to travel only to find that your trip has been cancelled. Sometimes you are forced to cancel your trip due to unforeseen circumstances. For example, your child gets sick and hospitalised a day before you travel and they need you around. Your meeting may be cancelled due to unrest in a country of destination and you are coerced to interrupt your trip. All these examples happen in real life and force a change in travel plans. If such unexpected events happen you will be compensated by your insurance company. They will pay for your tickets and accommodation as well as any other cost related to your travel caused by the cancellation or interruption of your trip.
If something untoward happens to your luggage, your insurance covers for it. You may travel to a country with very high crime levels and when you are there you become a victim of theft. Your luggage can also disappear along the way with your electronic devices such phones, laptops, tablets and or clothes. They can also be damaged due to a disaster. All the happenings articulated above will warrant that your items get replaced and that is where the insurance companies come in to assist when you have business insurance cover.
Passport and documents
Passports and other important travel documents can disappear or get lost while you are travelling. Theft has always been reported as the main reason people lose their travel documents. When something like that occurs to you in a foreign land it can devastate and confuse you. The good news is that if you are covered, your insurer will ascertain that your documents are replaced and your interrupted travel continues with no further interruptions. Since you cannot travel if your documents are damaged or unusable, your insurer will also cover for costs of remaining in the foreign country while you wait for your documents to be ready for use again. It really sounds like a good deal.
Luggage and travel delay cover
It may happen that your trip is delayed either by the airline or any other unforeseen circumstance. When you experience such a delay, your insurance will compensate you with money to cover for food and accommodation in the meantime. Also, to be covered are small important things that can arise such as grooming of your luggage items.
Covers may also differ depending on your business circumstances. Also, insurance companies have different names for different covers. It will do you good if you shop around for the best available business travel insurance.
Other business insurance covers
There are also a number of specific business travel insurance such as business administrative cover, Business Industrial and the annual declaration policy.
Business administrative insurance offered by some insurance companies covers employees and business owners who travel to other countries to do jobs that do not require manual labour and the employees should travel regularly for business reasons. Travellers in this category must be younger than 75 years of age. This differs from an insurance company to another.
Business industrial insurance suits employees who travel internationally on a regular basis and perform manual labour. Engineers, doctors, technicians, electricians among others fall in this category. The travellers, according to one insurance company should be 69 years or younger.
The annual declaration policy
In case your company sends staff on business trips often and prefers to cover all the staff, sub-contractors and / guests who accompany the employees on business travels, or maybe your company prefers to pay once for all the trips and require high levels of cover, this insurance is best suited for your needs.
Before you take out any cover do some research and choose the best cover for your business situation