Corporate Travel Insurance Coverage: Inclusions and Exclusions

When buying one of the various travel insurance types individually, be it for an international trip or a domestic one, it may cross one’s mind to check the inclusions and exclusions of the policy alongside other details. In fact, it may as well be common since it is an important step in understanding what your policy has to offer and how it may protect you and in what sort of situations. Especially when you buy travel insurance online, it is quite convenient to check the policy details. However, the same may not be said about corporate travel plans. Commonly, corporate travel insurance policies are purchased by the organisation or the employer for their employees who are travelling for business purposes on behalf of the company. If you are an employee who finds themselves on frequent work-related trips or is looking forward to having a first-of-this-kind trip and planning for it, understanding corporate travel insurance is crucial for you. Usually, a work-related trip is supported by your organisation, including the cost of the corporate travel insurance policy. However, if this is your first time embarking on a work trip in your current organisation or have not looked into the details of a corporate travel policy before, it may be best to check with your organisation about the type of policy they offer. With employees frequently on the move, it is crucial for companies to have a comprehensive corporate travel insurance plan in place to protect their employees and mitigate any unforeseen risks. However, understanding what is covered and what isn't in travel insurance can be a daunting task. Let’s start by taking a quick look at corporate travel insurance before we move on to its inclusions and exclusions.

What is Corporate Travel Insurance?

Corporate travel insurance is specifically designed to cater to the unique needs and risks associated with business travel. It offers a range of benefits, including medical expenses, trip cancellations or interruptions, lost baggage, and emergency assistance. Unlike individual travel insurance, which primarily covers personal vacations, corporate travel insurance provides comprehensive coverage for employees travelling on behalf of their companies. By having a well-designed corporate travel insurance plan in place, companies can ensure the well-being of their employees while minimising financial risks.

Corporate Travel Insurance Inclusions

Now, let's explore what is covered in travel insurance. While the specific coverage may vary depending on the policy and provider, there are some common areas typically included in travel insurance plans.

- Medical Expenses

One of the most vital aspects of travel insurance coverage is medical expenses. It ensures that employees are protected in case of injury or illness while travelling for business purposes. This coverage includes hospitalisation, emergency medical treatments, and medical evacuation if required. Claims are subject to terms and conditions set forth under travel insurance policy. *

- Trip Cancellations or Interruption

Travel insurance often covers trip cancellations or interruptions due to unforeseen circumstances such as natural disasters, political unrest, or medical emergencies. If a trip needs to be cancelled or cut short due to these reasons, the insurance can provide reimbursement for non-refundable expenses, including flights, accommodation, and pre-booked activities. Claims are subject to terms and conditions set forth under travel insurance policy. *

- Lost Baggage

Lost baggage coverage ensures that employees are compensated for lost, damaged, or stolen belongings during their business trips. This coverage provides peace of mind and financial protection, especially when valuable equipment or important documents are involved. Claims are subject to terms and conditions set forth under travel insurance policy. *

- Emergency Assistance

Emergency assistance is an essential feature of travel insurance. It offers round-the-clock support and guidance to employees in distress while travelling. Whether it's arranging medical evacuation, coordinating with local authorities, or providing language interpretation services, emergency assistance ensures that employees have access to the necessary help when they need it most. Claims are subject to terms and conditions set forth under travel insurance policy.*

- Adventure Sports

This may not be an exclusion that is exclusive to corporate travel plans. There may be several types of travel insurance variants that do not offer coverage for adventure sports such as rock climbing, mountain biking, skiing, trekking, and more. Claims are subject to terms and conditions set forth under travel insurance policy.*

Corporate Travel Insurance Exclusions

While travel insurance provides extensive coverage, it's crucial to understand what isn't covered as well.

- Pre-existing Medical Conditions

Travel insurance typically excludes coverage for pre-existing medical conditions or may include it with certain sub limits. However, there may be certain sub-limits you should check with your insurance provider. In case of an exclusion, employees with known medical conditions should consider obtaining additional coverage specifically tailored to their health needs. Claims are subject to terms and conditions set forth under travel insurance policy.*

- Acts of Terrorism or War

Acts of terrorism or war may not be covered under standard travel insurance plans, as well as corporate variants of travel plans. Companies operating in regions with higher risks should consider specialised insurance options to address these concerns. By leveraging the convenience of travel insurance online, companies can save valuable time and effort in selecting and managing their corporate travel insurance plans. By having a comprehensive corporate travel insurance plan in place, companies can protect their employees while they navigate the challenges of business travel with confidence and peace of mind.   *Standard T&C Apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.