How Often Should You Get Business Travel Insurance?

Businessman on the phone at an airport.

As a business owner or manager, it’s likely that your employees will occasionally need to travel for work. Without proper precautions, travelling can be risky – particularly when an unexpected event arises. This is where business travel insurance comes in. This type of commercial insurance coverage provides protection against any unplanned expenses, giving businesses peace of mind on the move. Should your business take out coverage?

Businesses have varied needs when it comes to corporate travel insurance, with different factors based on their travel frequency and destinations. This guide will provide insight on how often businesses should consider acquiring or updating their travel policy.

Infrequent Travellers

For businesses whose employees travel infrequently or just once a year, a single cover insurance policy for each trip will usually suffice. This kind of business travel insurance is designed for one-off journeys and ensures your employees and staff are covered for the duration of that specific trip.

Regular Business Travellers

On the other hand, many businesses have teams that frequently travel. For such cases, acquiring an annual or multi-trip business travel insurance cover might be more economical. Instead of getting a new policy for each trip, this commercial travel insurance provides coverage for multiple trips within a year. This is a streamlined solution for companies whose employees are regularly on the move.

Number Of Countries Visited

If your business requires travel to diverse locations worldwide, it’s wise to consider a policy that offers worldwide coverage. Multi-trip business travel insurance will often be limited to travel within one region or continent, but worldwide coverage will also usually be available at an extra expense. Whether or not this is a cost-effective solution depends on how regularly your employees will be travelling to a variety of locations.

Tailored Policies From Chartered Insurance Brokers

Every business is unique and so are its insurance needs. With that in mind, it’s essential to find a policy that’s tailored to your business’s specific requirements. This is where Chartered Insurance Brokers, such as Higos, can be particularly effective. We can offer expert advice and curated business travel insurance policies, ensuring your employees are adequately protected no matter where their work takes them.

Are you looking for corporate travel insurance for your own business? Get in touch and our team of commercial insurance experts will help you to find a bespoke policy for your needs. For business travel insurance, it has to be Higos.

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