Why do SMEs need business travel insurance?

Research shows more SMEs are travelling, with small businesses seeing increased value in face-to-face meetings and more frequently attending conferences, site visits or meetings overseas. However, with the trend of growing corporate travel spend year-on-year comes a greater risk of unexpected business expenses due to travel disruptions.

How is business travel insurance different to standard travel insurance?

Business travel often involves navigating unfamiliar territory, often on a tight schedule. Unexpected events like flight cancellations or employee medical emergencies can disrupt a trip and lead to costly expenses for your business.

Business travel insurance safeguards your employees in the event of accident or illness. It also protects the company’s financial interests with protection against trip cancellations and delays as well as for lost or stolen business property.

Is business travel insurance necessary for my employees?

Whilst some rely on an employee’s own travel insurance policy, leisure travel insurance often will not cover them for business trips and may have gaps in cover.

Specific business travel insurance will provide employers with the peace of mind that they are fulfilling their duty of care obligations toward their employees. Providing adequate travel insurance demonstrates commitment to their well-being and safety. Business travel insurance with a 24/7 medical assistance line ensures that employees receive necessary medical attention and assistance if they are taken ill or have an accident whilst travelling for business.

Business travel policies also include specific liability cover, which is particularly important to protect both the employee and the business in the case of accidents or damages.

Simplified travel management

Having a reliable insurance plan simplifies travel management. Employees can focus on their work without worrying about unforeseen events. It also streamlines claims processes, reducing administrative burdens.

A good business travel insurance plan integrates the needs of travellers into comprehensive policy that includes clear documents, digital access, 24/7 support and simple claims-filing.

What does business travel insurance cover?

Business travel insurance is a crucial safeguard for professionals on work-related trips. Whether an employee or self-employed, having the right cover can mitigate financial risks and provide peace of mind. Essential aspects of business travel insurance include:

Trip cancellation or curtailment

Trip cancellation and curtailment insurance provides cover for costs due to a cancelled or shortened trip. Some policies include the cost to replace an injured person or make arrangements to resume a journey.

Medical expenses

Business travel insurance ensures protection against unexpected health issues abroad. A comprehensive policy considers how to get employees home and should include cover for repatriation and emergency travel expenses.

Baggage and personal belongings

Imagine arriving at a crucial meeting without essential documents or business attire! Look for a policy that covers lost, damaged, or stolen luggage, including business equipment such as laptops and phones.

Corporate events

Hosting a corporate event overseas? Corporate event cover ensures that your guests are also covered against unexpected injuries following an accident at an event you’re hosting.

Cover beyond work

Many business travellers are combining leisure trips with corporate travel. This type of benefit ensures the right level of cover for both the boardroom and the beach.

What to look for in a business travel policy

The right business travel insurance plan begins with appropriate cover. The right fit factors in the frequency of travel, destinations, and the level of cover required.

For some business travellers, this could mean adding a business trip extension to a single-trip travel policy.

For companies of two or more persons, an annual business trip plan covers employees attending corporate events abroad, including team trips. A group plan covering all business travellers streamlines cover, claims, and assistance.

Customisation

Corporate entities may have quite different needs than businesses in the education or nonprofit sectors. Look for a plan that offers customisation as well as robust core cover and support.

Customisation can include policies designed for specific destinations, occupations, activities, and linguistic needs.

Digital access

A business plan is only as good as its functionality. For employers tailoring a policy and employees using it, digital access is an essential part of the process. This includes online quotes, instant document delivery by email, and online claims filing.

Remember, business travel insurance isn’t just about trip cancellation – it’s a comprehensive safety net for unforeseen events.

battleface offer a digital solution for business travel insurance. The product is designed specifically to meet the needs of small and medium sized businesses with 2-500 travelling employees.

Comprehensive cover for cancellation, trip interruption, medical expenses, medical evacuations and more offers peace of mind for businesses with travelling staff. No exclusion for medical conditions and no medical screening required.

Instant online quotes available – simple, straightforward, and without lengthy forms.

Incidental leisure travel for 3 days before and after included as standard – for those tying in some sightseeing before or after a business event.

Highly rated 24/7 customer services and medical assistance all in-house.

Underwritten by highly rated insurers: certain underwriters at Lloyd’s of London

Also catering to sole-traders and infrequent travellers, we have options available for a business extension to our single trip or annual multi-trip insurance product.

Get a quote for your company here
Sole traders can access our individual policies here

Battleface Insurance Services Ltd. is authorised and regulated by the Financial Conduct Authority in the UK, frn: 774757. At registered address: Suite 24, 80 Churchill Square, Kings Hill, West Malling, Kent, ME19 4YU, UK.

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