Business travel is a part of life for many employees and a large investment for many companies. Unfortunately, even the best planned itineraries can be ruined if an unexpected event occurs. Corporate travel insurance, also known as business travel insurance, protects owners and employees travelling intrastate, interstate and overseas for business. It also provides cover for business owners and their families travelling together on personal trips.
Why you should consider it.
We recommend anyone who travels regularly for work should consider corporate travel cover. This includes business owners and directors as well as employees.
Corporate travel insurance is designed to manage the complexity of risks that come with business trips. Whether it’s a cyclone, baggage handler’s strike or other disaster that interrupts your travel plans, the insurance is designed to give you peace of mind and get your travelers back on their way.
What does it cover?
Corporate travel insurance policies offer cost-effective annual policies that can cover executives and employees, with some policies also covering spouses and other dependents travelling with them.
Policies vary, but coverage can include:
- Overseas medical and evacuation cost
- Life and disablement cover
- Lost luggage and personal effects
- Flight cancellations and missed connections
- Rental car excess
- Loss of deposits
- Personal liability
- Cost of replacing an employee
What isn’t covered?
As with any insurance there are limits and exclusions that apply. There may also be a deductible, excess or limits on this type of cover so check with your GIBA insurance broker.
Please talk to us about what may or may not be appropriate for your coverage.