It may sound glamorous, but business travel can be exhausting. And if something goes wrong it can be stressful and end up costing your business lots too. Reliable business travel insurance is a must-have if you do any travel in the UK or overseas for work. With it, you can get help if something happens, like you miss a flight, fall ill or lose your passport. And you know the costs are covered in advance so there’s no financial risk to worry about.
Find out more about business travel insurance and stress-free travelling with our handy guide below:
What does business travel insurance cover?
Generally, travel insurance for businesses can cover:
- Medical treatment abroad, including repatriation if needed.
- Hire or purchase of essential business equipment like laptops or phones if they are lost, damaged or stolen. If you travel with specialist equipment you can also add this to your cover by speaking to your broker
- Damage, loss or theft of your luggage, including personal possessions. So, if your suit hasn’t made it to your destination in time, you can go out and buy a replacement ready for that presentation, knowing it’s covered
- Extra travel costs (for example, the cost of booking new flights if you miss your plane)
- Money if it is lost or stolen
- Lost or stolen passports. Your business travel insurance will cover fees to get an emergency travel document so you can return to the UK
- Trip cancellation or curtailment
- Travel around the world. It also covers you for business trips in the UK
- Replacement colleague cover. This covers the extra costs associated with sending a colleague in your place if you are unable to go
Like personal travel insurance cover, you’ll be given a 24-hour emergency helpline contact, so you can get help wherever and whenever you need it. As with all insurance, the level of cover provided by individual policies can vary. It’s important to check the small print for the level of cover you’re buying, as well as exclusions and any excesses.
Why do I need business travel insurance?
There are many reasons why business travel insurance makes sense:
- It helps sort problems out quickly for stress-free business travel. For other advice on making business travel more relaxing read these tips from IHG Business Advantage
- You can make the most of your time doing business abroad even if something does go wrong, knowing costs are covered
- It will help keep your employees happy as they’ll feel reassured that they can access help if they need to
- It can save you substantial amounts in the long run if you need to make a claim
Should I choose a single trip policy or annual cover?
This really depends on how often you or your employees travel for business. Annual cover can work out cheaper if you do more than one or two business trips a year. It is also more convenient as you won’t need to make new arrangements if you suddenly need to travel at short notice.
I’ve got personal travel insurance cover – can I claim from that?
Probably not. Most insurers exclude business travel from their personal travel insurance policies.
How can I find cheap business travel insurance?
Don’t be tempted to skimp on business travel insurance as this could end up costing you more in the long run. To get the best value for money cover, make sure you opt for a bespoke package, so you only pay for the level of cover you need. It’s also a good idea to shop around several business travel insurance providers to get the best deal. Or ask a specialist broker, like Park Insurance, to do this for you.
How can I get reliable business travel insurance cover at the best price?
Park Insurance has 30 years experience sourcing great value, quality business travel insurance for businesses of every size. From self-employed sole-traders to larger companies looking for cover for several employees, we’ll negotiate the best price without compromising on your level of cover. We’re preferred brokers to some of the UK’s leading insurance companies, giving us great negotiating power to secure insurance you can trust at a great price. Give us a call on 0117 9556835 or get in touch to find out more.