Guide to Business Travel Insurance

So you're heading overseas on a business trip and you think you're covered by your standard travel insurance policy? You may be wrong! Some travel insurers stipulate the reason for travel (business or pleasure) within their travel insurance policy. A business traveller can have different cover needs to a 'normal' traveller and a business travel insurance policy reflects this.

Company cover for business travel insurance

Don't automatically travel abroad under the assumption that your company has already provided you with business travel insurance cover. Even if there is a company policy in place, you should still check the level of business travel insurance cover so that you are aware of any exclusions or restrictions.

You can expect items such as laptops and other work related equipment to be covered in a business travel insurance policy. This may not be the case under standard travel insurance cover. When you examine the business travel insurance cover on offer, be sure to check your specific destination is covered. Some regions are deemed too risky or require a higher business travel insurance premium.

Specialist business travel insurance

When you think you've found a good deal, take a minute or two to read the policy wording of your business travel insurance cover. When it comes to business travel cover, you may find that you're actually about to buy a standard travel insurance policy with extended cover for a business trip. The level of cover from this form of policy is unlikely to match up to a specialist business travel insurance policy. It pays to read the detail!

By taking out a specialist business travel insurance policy, you're more likely to come across cover specifically designed for those working abroad e.g. cover to hire replacement equipment or even couriering a replacement to your foreign destination.

Self employed business travel insurance

Self employment simply heightens the need for business travel insurance cover. If you're travelling whilst working for a large company, they may decide to cover any losses as goodwill to their employee. However, if you're self employed, this would still leave you out of pocket, hence the need for business travel insurance.