Business travel is inescapable in many companies, whether nationally or internationally. Multinationals that send workers to other countries, commercials that constantly move from the city to sell their products or trips to attend courses or training abroad. Sending an employee to work away from the usual place for a while has the same risks as a tourist traveling to other countries. However, companies often take out Company Travel insurance to protect employees as much as possible, as they offer coverages that focus on their needs. This type of policies, in addition to including the basic guarantees of a traditional Travel Insurance, offer specialized coverages.
Business travel policies
Insurance companies usually offer different types of business travel insurance that adapt to the time that the employee will be out. These policies have different coverages depending on the needs of the company and its employees.
Annual Travel Insurance
This type of insurance is contracted annually and covers all professional trips of less than 90 days that occur in a year in the company. In this way, the company avoids taking out a policy every time an employee leaves for a business trip. It is usually sued by large companies that make large numbers of trips abroad.
Standard Travel Insurance
Standard Travel insurance covers an employee who travels for less than one year. In general, it provides assistance to professionals who will be away for a certain time.
Other types of policies
Demand from companies has led to the creation of new types of insurance. Some companies offer the possibility of taking out insurance for displaced employees for a long period of time. It is specially designed for the exchange for months or years between the headquarters of the different companies. On the other hand, company managers sometimes have to travel abroad for work with their entire family. Therefore, there are Premium insurances specially designed for these trips.
What does business travel insurance include?
The basic coverages that this type of insurance usually includes are the same as a traditional travel insurance, such as medical expenses abroad, loss of luggage, civil liability or early return. However, it has some additional guarantees adapted to the professional.
Theft of valuables
In a travel insurance for companies, the employee usually carries valuables such as the mobile phone, laptop, tablet or briefcase. Some workers may even travel with specific devices needed to perform their work. Therefore, some companies may include in their policies coverages that cover the theft of these valuables.
Compensation for kidnapping
Some business trips can be made to countries where there is a risk of kidnapping. In this case, companies can contract in their business travel insurance the coverage of compensation for kidnapping. In addition to monetary compensation for the time spent by the kidnapped employee, some insurers guarantee the expenses derived from therapy in the event that the worker suffers psychological sequelae.
Policies usually include a simultaneous telephone translation service, in the event that an accident covered by the policy occurs and the insured cannot understand or express himself in the language in which the authorities or doctors of that country express themselves, for example.
Alterations to the agenda
Many times, workers suffer alterations in the agenda due to last-minute meetings or projects. Therefore, there are coverages that compensate the employee in case of cancellation of the trip and even contemplate compensation for delay in the departure of transports such as trains or planes.