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You can protect your traveling employees for all business trips they take each year — either on an individual, single-trip basis or with an annual group plan. For group policies, the maximum limit for most types of coverage applies to each person and each trip. But trip interruptions and cancellations may offer one limit for all trips, rather than coverage limits per trip. So consider high limits when buying that coverage.
Corporate policies provide some of the same features as standard policies with higher limits and few extras. Typical policies cover:
Your business travel policy probably won’t cover:
Zurich North America launched its business travel insurance in October 2020, and it covers the coronavirus just as it would any other covered illness employees might get.
Employees also get 24/7 travel assistance, including a handy app to update travelers on conditions at their destination and connect them with emergency services. The app also features a coronavirus heat map option.
Consider how Zurich can help with your insurance needs for travel and other business protection.
Many policies offer a travel accident benefit with a moderate or high limit like $50,000. The benefit helps workers or their families after the worker experiences a serious accident. Benefits included:
On most policies, the trip cancellation and interruption benefits are capped with one yearly limit for all travelers. All other benefits have maximum payouts that apply to each insured traveler for each trip. Aside from how the payout works, you also face several choices to customize coverage for your needs:
Annual policies save you from taking out a new travel insurance policy for every trip. It covers your workers continuously for multiple trips throughout the year, and you can add multiple workers to get insured under the policy.
However, the annual policy may limit the length of each trip to 30 or 45 days. It may not fit businesses that take one or two short trips each year.
Most business travel policies allow multiple people to get covered under a single policy. This feature can help your business stay flexible for multiple trips or trips requiring more than one person. You might also add multiple travelers to a single-trip policy if that suits your needs better. Some companies limit the number of workers covered, requiring you to buy multiple policies in some cases.
Most insurers give the option to cover all trips while others may insure only domestic or international trips. It’s important to review the terms and conditions of different policies as some insurers have different requirements and exclusions. Companies may apply some exclusions to countries with an increased threat due to political or environmental factors.
You might expect the cost of a single-trip policy to total 5% to 10% of the trip’s value. However, an annual policy with unlimited trips may charge a flat rate of several hundred dollars instead. The exact cost of corporate travel insurance gets determined by a number of factors:
Business travel policies tend to combine individual coverage with a few extras for business purposes. A standard policy for business or personal may look like:
Features | Business travel insurance | Standard travel insurance |
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Cancellations and interruptions |
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Loss or damage to personal items |
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Emergency medical assistance and evacuation |
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Travel or baggage delay |
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Rental car damage |
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Business equipment |
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Business rental equipment |
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Foreign workers’ compensation |
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Choosing a business travel policy suitable for your needs comes down to how much your business travels, who travels and your coverage requirements.
Business travel insurance comes with straightforward standard and business-specific protection, including trip cancellations, business equipment or rental car coverage. Find the best travel policy that fits your company’s travels to a T.
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