There Is More to Business Travel Insurance Than Meets the Eye
Does this sound like your work week? You catch the red-eye to New York for a day of meetings and, if you’re lucky, you’ll catch up with your college friends at an early dinner. Before you know it, it’s another overnight flight, this time to Brussels where you have a morning of meetings with international delegates before catching the train to Munich. A few days later, you repeat the schedule, this time to head to London. The trip concludes with a final round of negotiations in Bonn and some socializing with the clients before you head home. You would do anything for a direct flight but the only thing that would work with your schedule was a bit of a puddle-jumper, changing carriers halfway through the journey.
Business travelers don’t see the world like everyone else. They’ve got the hottest tips on cool airport lounges and they’re pros when it comes to sniffing out a good cup of coffee. But when it comes to flexibility and spontaneity, they’re much more constrained. Their journey is unique and so are their business travel health insurance needs. Here’s a look at what business travelers need to consider when buying insurance.
Emergency Evacuation Coverage for Employee Trips
Most people would never imagine traveling to a region where there’s a high risk of volcanoes, earthquakes, monsoons, and political instability. But business travelers know that a trip to Sumatra is invaluable when coffee is your cash crop and that some of the fastest growing tech hubs in the worlds are in the Middle East. Sometimes there’s no choice but to travel to a rather dangerous part of the world. Comprehensive emergency evacuation coverage can be your best friend when Mother Nature (or a group of protestors) decide to roar. Along the same lines, a generous medical coverage package is important for business travelers who likewise find themselves in developing countries. Should you need emergency medical care, you’ll want to make sure you’ll receive it a hospital that meets global standards. All of the plans recommended below include emergency evacuation benefits.
Baggage Coverage While on a Business Trip
Most business travelers are geniuses when it comes to carry-on packing. There’s no one who can pack a small suitcase better! For good reason. No business traveler wants to have their polished dress shoes and presentation blazer go missing. Alas, sometimes checking a bag is a necessary evil – especially if you have irreplaceable tech gear or product samples in your carry on bag. When it comes to baggage protection, make sure you’re signed up for adequate coverage. The cost of a custom suit or business appropriate clothing can rapidly exceed the basic baggage coverage that’s a part of most plans.
Trip Cancellation and Interruption Coverage
This scenario is a familiar one to most business travelers. You’ve spent a small fortune and a massive chunk of time preparing for the presentation of a lifetime. Everything hangs on this meeting and you’ve sunk more money into the trip than you can really afford. But at the very last minute, the trip is off. Volcanic ash from Iceland is grounding all European flights. Rumors of terrorist activity are making authorities nervous and all non-essential travel is restricted. Bad luck is an inevitable part of travel – but for business travelers, it could derail their work indefinitely. Protecting the investment made in your trip with trip cancellation insurance protects your business in the long run.
Related: Trip Cancellation Insurance Plans
Coverage for Adventure Travel – No, Really!
Everything is going according to plan. Your fight was right on time and everything arrived just as you expected. Your conference was a smashing success and your presentation skills have never looked so good. Now all you have to do is to bond with your new clients. And, after all, cultural niceties dictate that you accept their invitation to help you with a little sightseeing. There’s just one catch. You had no idea that sightseeing meant alpine hiking in Switzerland, scuba diving with sharks in Malaysia, or camel riding in Morocco. And as you stare down the meanest camel in Africa, you’re suddenly wondering if your insurance covers foolish adventure activities. Many business travelers would never identify as adventure enthusiasts – but that doesn’t mean they’re not taking part in adventure activities. If there’s more to your travel life than boardrooms and hotels, make sure your side excursions are properly insured.
Best Travel Insurance for Business Travelers
Business Travel Insurance for Single Trips
For employees on a business trip, we offer a couple of great solutions. For US citizens traveling abroad on a work trip, we recommend the GeoBlue Voyager Plan. This plan is backed by Blue Cross Blue Shield and offers an excellent network of international hospitals and doctors. For international citizens traveling worldwide, we recommend the Atlas Travel Insurance Plans, which are available to all nationalities. These plans will cover all of the benefits listed above and also include medical care, repatriation, emergency assistance, and more.
- Great option for US citizens traveling abroad
- For trips up to 6 months for ages up to 84
- May cover pre-existing conditions for medical services
- COVID-19 coverage outside your home country.
- You choose between the basic and more extensive coverage.
- Meets Schengen visa insurance requirements.
- 24/7 worldwide travel and emergency medical assistance.
Annual Multi Trip Business Travel Insurance Plans
For employees and business travelers who travel frequently throughout the year, you might be better off with an annual travel insurance plan. These plans are purchased at any time and will cover you for the next twelve-month. These plans can be renewed for the subsequent year. There are cost savings when buying these plans if you travel three or more times each year. You also have the peace of mind of being covered for any trip without having to purchase a new plan each time you go abroad.
Expatriate Insurance for Employees Living Abroad
If you have employees living in a foreign country or traveling abroad for six months or more, you might consider an expatriate medical insurance plan. These are international health plans which provide comprehensive coverage worldwide, including in your home country. One example is the Cigna Global Plan which offers a flexible plan design, excellent service, and a range of benefits to meet your specific needs.
- The flexibility to tailor a plan to suit your individual needs
- Access to Cigna Global’s network of trusted hospitals, clinics, and doctors
- The convenience and confidence of 24/7/365 customer service
Related: Business Travel Tips and Advice