Interstate and international business travel is becoming increasingly common in today’s business environment.
While business travel can be an exciting aspect of the job, it also comes with its own set of risks. It’s crucial for companies to ensure their employees are protected during work-related travel, just as they would be in the office.
Corporate Travel Insurance provides coverage for the typical risks faced by corporate travellers on interstate or overseas trips. This includes protection against loss of deposits, flight cancellations, accidental death and disability, medical evacuation, loss or theft of baggage and travel documents, as well as personal liability.
Do I need Corporate Travel Insurance?
Corporate travel insurance is beneficial for any businesses with employees who travel overseas or throughout Australia where the travel involves planes, hotel stays or tours.
As Corporate Travel Insurance can be extended to include employees and their families for leisure travel it makes an excellent low cost employee benefit.
What does this Insurance cover?
Most Corporate Travel Insurance policies will cover for:
- Emergency hospital and medical expenses
- Replacement of lost travel documents and luggage
- Accidental death, disability and loss of income
- Hire care access
- Cancellation expenses due to delayed flights or illness
- Kidnap and ransom
- Personal Liability
Corporate Travel Insurance offers additional benefits to standard Leisure Travel Insurance designed to suit business needs. These can include:
- Cover that extends to the whole business, not just the individual
- Cover that extends to all Employees, Directors, Officers and Consultants of the Insured person, including accompanying spouse and dependent children
- Cover for leisure travel during a business trip. (Leisure-only travel can also be included)
- Cover for pre-existing conditions if your doctor deems you fit for travel
- Higher sums insured across a range of potential risks
Important Tips
For trips longer than 180 days, you may need an expatriate policy to extend coverage for the duration of your stay abroad.
Having a current health insurance policy does not automatically guarantee coverage for overseas medical expenses. Verify your coverage before you travel to ensure you’re adequately protected. If you find you are covered, you might be able to lower your travel insurance premium, so be sure to inform your broker before finalising your policy.
Many tour operators require travellers to have travel insurance to depart or to engage in certain activities. If you’re considering skipping travel insurance, it’s wise to check with your tour operator to ensure it won’t impact your plans.
Coverage may vary by location. Always review your policy to confirm that there are no exclusions for your travel destinations.
General Advice Warning
The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.
Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.
Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829
How Clearlake Insurance can help
At Clearlake Insurance Brokers, our knowledgeable insurance brokers are well-versed in the risks associated with corporate travel. We are committed to providing expert risk advice and arranging a customised insurance solution that addresses the specific needs of your business and its travel requirements.
For more information or to arrange cover, please contact us on 02 9037 8970 or simply fill out the form below and one of our insurance brokers will get in touch shortly.
