YOU ASK:

I’ll be travelling on a business trip, what should I know about insurance?

WE ANSWER:

If you're travelling on a business trip or are going to a corporate event, you should try to get business travel insurance. This is actually travel insurance that is geared towards businessmen, salespersons or executives.

You have your own particular needs and the insurance companies created business travel insurance to cater to these needs.

Benefits of Business Travel Insurance

For one, business travel insurance will provide you with a higher limit for business equipment insurance.

You see, laptops and other business equipment are often not covered in standard travel insurance. And if they are, the limits are too small as to cover the actual cost of the equipment. With business travel insurance, you can rest assured that your precious equipment (and even documents) is covered from loss, damage or theft.

Also, business travel insurance usually also provides access to VIP airport lounges all around the world, as well as expenses needed for a business colleague to replace you in case you are forced to cancel the trip.

If you are often traveling on business, it is also advisable for you to take an annual policy, as this provides more savings if you go on a trip for more than twice a year. An annual business travel insurance policy will cover you for the trips you take within the covered year.

Depending on your insurance policy, other benefits provided include trip cancellation insurance, trip curtailment insurance, baggage insurance, loss of documents and personal possessions such as your passport, cash and valuables as well as missed flights.

Business travel insurance will also cover for medical expenses, personal liability and emergency medical evacuation.

It is important to realize that when travelling, insurance is not a luxury but a necessity. Since there are so many things that could happen during your trip and you would like to protect yourself from unexpected expenses, as well as to save yourself from the hassle and pressures related to traveling. That means that when you miss your flight, you don't have to worry about forfeiting your airline fare.

Before you leave, be sure to read the fine print to know the terms and conditions of your policy.

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