What Are The Most Important Features of Business Travel Insurance?

If travel is an essential part of your business, business travel insurance can offer essential peace of mind. With good cover in place, you can rest assured that, if something goes wrong when travelling, those insured will get rapid access to the support the need.

Yet not all business travel insurance cover is built the same.

A business travel insurance policy might include certain exclusions, so they could leave you high and dry when you need them most. Or they might fall short on customer support, so you might not be able to depend on them for good advice, or for a quick responses to your claim.

So in this post, we’ll look at the sort of features that matter most for business travel insurance, to help you find a provider that can meet your business needs.

Thoughtful and Well-Drafted Wordings

Some insurers may be too vague in their wording. If there are any tricky exclusions in their policy, you might not find out until it’s too late.

Others may even treat their policies as “window dressing”. On paper, it might seem like you’re covered for almost anything that might happen on your travels. But on closer inspection, their policy wording might mean that you’re not really as covered as you think you are.

A good business travel insurance policy will make it clear exactly what you’re covered for. They’ll also make any exclusions to your cover perfectly transparent. So from day one, you’ll know exactly what sort of protection you have in place, so you can plan accordingly.

Breadth of Cover

Travel is expensive and unpredictable. No business travel insurance policy can cover absolutely everything that might happen. But a good travel insurance policy can come pretty close.

Good business travel insurance policies offer breadth of cover, for events such as medical expenses, travel delays, lost baggage, personal possessions, and more. Some policies may offer certain forms of cover as optional extras so make sure your business travel policy gives the breadth of cover your business needs, without charging excessive amounts for anything essential. It is also important to make sure that you’re not paying too much for cover that may not be needed.

As well as the cover the policy offers, policy limits need to be considered. This is the total amount a policy will pay out for certain insured events. A good policy will define a number of realistic internal limits. For example, a £1,000 limit for lost baggage could be useful. But a £1,000 limit for medical expenses and repatriation might not be so helpful as costs would be substantially higher.

Affordability

Obviously, you want to choose a business travel insurance policy that suits your budget. Yet when choosing a business travel insurance policy, don’t just focus on the price of the premiums. Also pay attention to the excess.

The excess is the amount that needs to be paid at the start of any claim. Agreeing to a higher excess might result in lower premiums but if the excess is higher than some can afford, then your business travel insurance policy might just offer false economy.

Good business travel insurance providers offer flexible, tailored policies, allowing you to find that perfect balance for your business: An affordable policy that still delivers value.

Customer Services

Some insurers might outsource their customer support to third-party providers. Not only can these be more difficult for customers to contact, they may also be comparatively uninformed on the finer points of business travel insurance. So if you or a colleague have any questions about a policy, or if a settlement needs to be made as soon as possible, then they may not be as reliable as you need them to be.

A good business travel insurance provider will operate a specialist support system, offering their customers 24/7 access to friendly, reliable, and well-informed insurance experts. They may also give you a dedicated app, so you can securely access support and advice, and even make a claim, from any device at the touch of a button.

Business Travel Insurance – Get Cover You Can Depend On

In business travel insurance, you need a great product that delivers, and not one that leaves you wishing you’d delved a little deeper.

At Capacity Insights, we specialise in flexible, simple, and affordable business travel insurance. Whether you’re looking to create a comprehensive travel insurance plan as part of an employee benefit package, or you are looking to add to your existing employee benefits, we’re here for you. You can also extend our business travel to include leisure travel for your staff.