Business travel insurance is of huge importance for those people who need to travel on a regular basis on work purposes. This type of insurance ensures the safety of belongings of the travelers. Business travel insurance is a form of cover that work to the advantage of business travelers when both national and international travels are concerned.
In order to get the full benefit of a business travel insurance policy, the person seeking the insurance must have a clearly chalked out plan of the places of visit and the planned activities during the tour. The employer usually pays for the business travel insurance of the employees. However, this is not a compulsion on the part of the employer.
In case of non-reimbursement of insurance for business travels, the amount of insurance is deducted from the payable amount of taxes of the employee. International business travel insurance policies provides cover for any possible declarations of emergencies in the county to which the traveler is traveling. Such emergencies include emptying on grounds of political or medical reasons, losses occurring due to misplacement of luggage, sudden deaths and cancellation of trips and returning of remains of the deceased traveler.
Another of the many advantages of business travel insurance is the cover for emergency reunion costs. This ensures that if by chance a family member has to join the traveler in his business trip, then according to the insurance policy, a part of that traveling expense will be paid by the insurance company.
The emergency reunion cost includes the return travel costs of an accompanying minor in case the adult falls ill and has to be hospitalized. In order to avail this insurance, all personal informations that would be required to be furnished and passport records must be ready at hand. An effective business travel insurance policy usually provides cover for all forms of expenses incurred during traveling.
Some of the major companies providing business travel insurance are as follows:
AIG Travel Guard
CSA Travel Protection
Last Updated on : 29th July 2013