3 Tips For Companies Getting Travel Insurance For Employees

Close-up image of a blue travel suitcase with red passport.

Business travel has become an increasingly critical part of the way many companies operate. With that in mind, it’s essential to prioritise the safety and well-being of employees during these trips. Our experts are on hand to share their advice for acquiring business travel insurance for employees.

Why Businesses Need Company Travel Insurance

Companies that frequently send their employees on trips may overlook the importance of getting business travel insurance. However, obtaining appropriate travel insurance for business trips should be a priority. Firstly, employers have a legal responsibility to ensure their employees are safe and secure throughout the course of their work. Secondly, if a business doesn’t have adequate cover, this could lead to costly legal and financial consequences.

That said, there are many types of business travel insurance options to choose from: single-trip insurance, annual insurance plans, domestic insurance, international insurance, and so on. With this in mind, it can be difficult to know where to begin. Fortunately, our experts are on hand to share their tips on obtaining company travel insurance for employees.

1.      Check What Equipment Your Staff Need To Take With Them

Before embarking on a business trip, it's important for companies to take into consideration what items their staff will need. Depending on the destination and purpose of the trip, employees may require different items.

You should determine if any specialised tools, devices, or instruments are required. For instance, photographers might carry expensive camera equipment, engineers may require specific technical gear, or medical professionals may carry portable medical devices. Ensure that your chosen business travel insurance policy covers loss, theft, and damage for these items. You should also confirm the coverage limits for valuable equipment, as this will avoid potential financial setbacks in the event of an incident.

2.      How Often Will Employers Need To Travel?

Consider the frequency of your employees' travel when selecting a suitable corporate travel insurance policy. Some employees may travel infrequently, while others may embark on multiple trips throughout the year. In such cases, you should consider whether single or multi-trip travel insurance coverage is more appropriate.

Single-trip insurance provides coverage for a specific journey. For a one-off trip, this will generally be cheaper than a multi-trip policy. This makes it ideal if employees will only be travelling the once. Multi-trip insurance, on the other hand, offers continuous coverage for multiple trips within a specific period. This period is usually a year but can usually be negotiated with your business travel insurance provider. While a multi-trip insurance policy will initially be more costly than a single-trip policy, it may work out to be more cost-effective when considering the number of trips an employee will be travelling on. By understanding your employees' travel patterns, you can select the appropriate company travel insurance that aligns with their needs.

3.      Use A Chartered Insurance Broker

Navigating the complexities of corporate travel insurance can be overwhelming. This is where a chartered insurance broker – such as Higos – can be invaluable.

A chartered broker has the expertise, knowledge, and resources to provide tailored advice and help you find the most appropriate business travel insurance policy to meet your business needs. As an example, at Higos, we evaluate different insurance providers and compare their policies. This allows us to review policy wording in detail and make informed recommendations on which policy would best suit your requirements. We do this by considering factors such as the frequency and purpose of travel, coverage limits, and other specific needs.

A reputable business travel insurance broker can also help ensure compliance with duty of care obligations. This includes any legal, ethical, and moral responsibility of employers to take reasonable steps to ensure the safety and well-being of their employees. By partnering with a chartered insurance broker, businesses can show that they are taking the necessary steps to prioritise the safety and well-being of their employees when travelling for work.

Business Travel Insurance From Higos

As well as being a chartered insurance broker, here at Higos we are specialists in providing bespoke, tailored travel insurance for business trips. No matter the size of your business, our friendly experts will take their time to understand your unique requirements and provide you with the best policy to ensure your employees are fully covered.

To speak with our specialist business travel insurance team, why not get in touch? We’re always happy to help and answer any questions you may have. For company travel insurance, it has to be Higos.

Get in touch

Give us a call on 01454 270323 if you have any questions or click the 'request a callback' button.