5 Common Features of a Typical Business Travel Insurance Policy

Are you traveling on a business trip and wondering why you should purchase a business travel insurance policy instead of standard travel insurance? While it might seem like an unnecessary expense at first, business travel insurance actually includes a range of features that are often considered very useful for business travelers.

Here is a guide to five of the most common additional features that you can expect to find on a business travel insurance policy to help you decide if you want to invest in it next time you travel abroad.

1. Business Equipment

One of the main features included in a typical business travel insurance policy is financial cover for your business equipment. If you travel with an expensive laptop, tablet computer, smartphone, or any other expensive items, then a policy may provide you with cover if any of your items are lost or stolen.

Policies usually come with a per-item limit, so if you are taking anything particularly expensive you may need to arrange separate cover for it.

2. Courier Service

One useful feature sometimes included in business travel insurance policies is cover for courier fees should you need to get a package sent over from your home country. This feature may be useful if you forget a crucial document for a meeting and need it to be delivered the next day.

3. Replacement Personnel

This is one of the features that may be particularly useful for business travelers. If you fall ill or are hospitalized, and cannot travel to your important event as a result, replacement personnel insurance may cover the financial costs of sending someone else out in your place. If it is absolutely vital that someone from your firm attends the event then it could be very reassuring to have this type of cover in place.

4. Equipment Hire

If some important business equipment is lost or stolen and you need an urgent replacement, your insurance may provide cover for rental costs. This feature usually comes with some restrictions, however, and may not be available if you simply forget to take something important with you.

5. Business Money

Business travel insurance often provides cover for business money that is lost or stolen while you are abroad. Just remember that you may need to get a police theft report before you can make a claim.

Find the Most Suitable Business Travel Insurance Policy

It is important to note that there is no one-size-fits-all solution when it comes to business travel insurance. Every policy is different, and the above expenses simply provide a general guide to what you can expect from a standard policy. It is therefore very important to look at a few different policies before you choose the most suitable one for your business trip.