Business travels, be it international or domestic, can be fun as you get to meet different kinds of people and experience vast cultural diversity. But it can also turn into a nightmare if something goes wrong. Any unforeseen incident, such as flight delay or loss of personal documents, can have huge financial implications apart from giving a lot of trouble. To ensure that your business trips remain pleasant and safe, the best thing to do is to take a corporate travel insurance policy.
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Corporate travel insurance is targeted towards employees who are required to travel, domestically as well as internationally, for business purposes.
Most corporate firms buy domestic or international travel insurance plans to minimize their liabilities towards their employees who are traveling. They have the liberty to opt for customized travel insurance plans based on the individual traveler’s requirements.
Corporate travel insurance plans offer protection against expenses that might occur due to unforeseen events like accidents, medical sickness or other mishaps while traveling. It not only provides cashless hospitalization but also covers the evacuation cost.
Some of the best travel insurance India plans are provided by Bajaj Allianz, Cholamandalam, Religare, TATA AIG and ICICI Lombard among others
Travel insurance providers in India offer various types of travel insurance plans including student travel insurance and domestic travel insurance. Business travelers who have to travel within the country can opt for a domestic travel insurance policy.
You can either go for a single trip travel insurance policy or a multi-trip cover. A multi-trip insurance cover is tailor-made for frequent travelers. It is not only more economical but also saves them the time and trouble of buying individual travel insurance policies before each trip. Apart from covering the insured employee, this policy can also be extended to cover his or her family members including spouse, parents and children.
You can get domestic travel insurance at the time of booking your ticketson a travel website as such websites often have a tie-up with insurance companies.
You can also purchase travel insurance online separately by visiting the official website of a travel insurance company.
Several risks are not covered in corporate travel insurance plans. These are:
Apart from the basic cover, you can also buy travel insurance plans with add-on riders by paying an extra premium as many times they are not included in the basic plan.
The following documents need to be submitted by a company in order to register a corporate travel insurance claim:
With corporate travel insurance by your side, any company’s employee can travel without worrying about the unforeseen circumstances that he might come across during his trip. By purchasing a corporate travel insurance policy, a company can financially protect itself and its employees who are traveling for business purposes.