Companies getting travel insurance is an innovative way of covering the employer’s liability towards the employee. You can even customize your policy to suit your requirements, with covers available from the slightest to the most serious situations. Corporate travel plans do away with the complication of having to specify and order policies for each employee separately and you can guard against unforeseen losses well.
What You Should Know About Corporate Travel Insurance
Business trips can turn into horrendous disasters not only for the employee meeting with any sort of unfortunate events, but also for the organization. A company may suffer heavily in repatriation and other cost reimbursements. However, travel insurance for business trips spells an end to such risks. Here are a few reasons for choosing travel insurance.
What you can get coverage for
Corporate travel insurance provides solutions to distinct requirements.
Some of the coverage types you can opt for are:
- Covers for complete loss of check-in baggage or delay of checked baggage
- Specialized covers for accidental death and for permanent disablement and personal liability
- Covers for emergency medical costs, covering evacuation and repatriation of the remains of the deceased
- Specific dental covers, besides the medical expenses cover
- Covers against passport loss or loss of international driving license
- Covers for situations of cash crunch, that is, covers for financial emergencies and daily hospital cash
- Separate covers each for hijack, trip cancellation, and delayed or cut short trips
- Covers for bearing the costs of replacing one employee with another
Covers that are unique to different companies are also available. Personal accident covers from the moment an employee sets off for a trip till the moment he reaches his residence are also available.
However, it is better to not assume what your plan covers. Pre-existing conditions, mental or psychological disorders and serious ailments like HIV are not covered, the sole objective of corporate travel insurance being what it is.
You can buy online for a host of benefits
Buying insurance can be a hassling experience sometimes. However, when you buy a corporate travel insurance cover for your organization, buying online can save a great deal of time and effort. Medical check-ups are done away with and the issuance of the policy is smooth and takes no time. You can access your policy details by visiting the website of the insurer. What’s more, you can get lower premiums for your policy.