Business Travel Accident Insurance Vs Employers’ Liability
While travelling for business can sometimes be perilous, staying safe should always be a top concern for corporate travellers. Unfortunately, accidents can still occur, leaving employees and contractors vulnerable and even potentially exposed to financial disaster. This is where the importance of business travel insurance comes in. But is it as simple as taking out a single policy, or do you need to consider the differences between business travel accident insurance and employers’ liability insurance? Do the two policies provide cover for the same risks? Our commercial insurance experts are on hand to discuss this matter further and help you decide what’s best for your business.
Corporate Travel Insurance Explained
First, let’s explain what business or corporate travel insurance is. Business travel insurance is a type of commercial insurance cover designed specifically for those on work-related trips. It offers financial coverage for emergency medical expenses, trip cancellations or delays, loss of personal possessions, and any personal accidents. A policy isn’t limited only to the employees of a business but can also provide coverage for contractors and can be taken out for one-off trips or to cover an extended duration of time.
Employers’ Liability Insurance For Travel
While business travel insurance is optional, employers’ liability insurance is mandatory. Employers’ liability is another type of commercial insurance cover, however, in this case it only covers accidents and illnesses that happen during the course of employment. What this means is that if an employee suffers an injury or illness that isn’t work-related, it won’t be covered within an employers’ liability insurance policy. It’s worth noting that if an employee is injured while travelling for work, employers’ liability may pay for their medical expenses and lost wages, but only if the injury or illness occurred while performing a work-related duty.
What Is Business Travel Accident Insurance?
Business travel accident insurance supplements employers’ liability by providing additional coverage for employees while they’re away from the workplace. If any accidents or illnesses occur when travelling, but fall outside of work-related duties, business travel accident insurance will offer financial protection where employers’ liability typically wouldn’t.
This can be an invaluable form of commercial insurance cover for any businesses whose employees are required to travel for their work. Employers have a duty of care for their employees and need to ensure their workers’ safety and well-being before, during, and after their travels. Business travel accident insurance policies are a way to safeguard employees should any such travel accidents occur, and can also provide support and assistance to workers should they experience any emergencies such as theft or minor injuries.
Business Travel Accident Insurance Or Employers’ Liability
Business travel accident insurance and employers’ liability insurance are not interchangeable policies so much as two policies that complement each other. While employers’ liability is a legal necessity in the UK, business travel accident insurance provides employees with a level of coverage that goes beyond what will usually be covered under employers’ liability. To ensure that employees are adequately protected while travelling on the job, corporate travel insurance should be a serious consideration for any business.
Business Travel Insurance From Higos
At Higos we specialise in business travel insurance, providing bespoke coverage for a range of industries both large and small. Our status as a chartered insurance broker enables us to work with an extensive list of insurance providers to find suitable policies that cater for every requirement. If you have any questions about our commercial insurance services, please get in touch and we’ll be happy to help in any way we can.
Contact us today and speak with our commercial insurance team! For business travel insurance, it has to be Higos.