Ensuring the safety and well-being of employees on the move is paramount, making business travel insurance an essential component in your company’s travel management strategy. However, as a company with multiple employees on the move, what should you consider when searching for a business travel insurer?
This piece aims to shed light on how companies should approach the search for a suitable business travel insurer, key considerations to keep in mind, and additional tools that enhance employee safety and connectivity during their travels.
What is business travel insurance, and why do we need it?
At its core, business travel insurance provides a safety net for your travelling employees. It’s designed to address the unique challenges and risks associated with business trips. From lost luggage and trip cancellations to medical emergencies and equipment protection, the right policy offers your employees comprehensive coverage when they need it most.
What to look for when searching for business travel insurance
Coverage Options: Look for insurers offering flexible policies that match your employees travel frequency and geographical reach. Whether it’s single trips or annual coverage, Europe-bound or worldwide, ensure the policy fits the needs of your team.
Comprehensive Protection: Essential coverages include trip cancellation, medical cover, loss of personal possessions, and business equipment protection (consider products being transported to trade shows, if applicable, in addition to the basic items such as laptops, tablets, and mobile phones).
Emergency Medical Expenses:
Accidents, illnesses, or medical emergencies in a foreign country can not only be distressing but also extremely costly. Insurance that covers these expenses ensures that employees receive the necessary care without the company incurring prohibitive costs.
Travel delays:
Missed departures can cause ripple effects, from missed meetings to additional travel expenses. Insurance coverage helps mitigate these costs, providing alternatives to ensure that business objectives are still met.
You may also look for additional cover, such as passport loss coverage, ensuring that in the event of lost travel documentation, employee expenses are managed accordingly.
Where should I look for business travel insurance?
A quick web search will offer a whole host of business travel insurance options; however, you may also look to your Travel Management Company for suggestions. We, at Hannon Travel, can share with you the most used business travel insurers and what companies ought to consider on their search for a corporate travel insurance provider.
Beyond Insurance – Supporting employees on the move
Mobile Messenger: Technologies like Mobile Messenger also play a crucial role in supporting your team members as they travel. Mobile Messenger enables companies and HR leads to locate travelling team members instantly through a live interactive map. Furthermore, it enables companies to communicate directly with employees via an easy-to-navigate mobile app, ensuring support is just a tap away, should it be needed.
24/7 Support: Companies should also consider TMC’s that offer 24/7 consultant support, where team members can instantly seek help on the move if they need it. At Hannon Travel, we personally provide 24-hour support to your employees, making sure they always have a number to call if they need help as they travel the globe.
Final Thoughts
Navigating the world of business travel insurance can seem complicated, however, with a clear understanding of your organisation’s needs and the travel frequency and trends of your employees, the search for the right provider and policy becomes significantly more manageable. By prioritising coverage that aligns with the specific risks and challenges your travelling employees face, you can ensure you choose the optimum coverage to meet your needs. Going beyond business travel insurance, consider what you need from a Travel Management Company, such as 24/7 support, or technology that enables you to quickly check in on travelling employees. By combining comprehensive business travel insurance and valuable support through your travel manager, you gain peace of mind as your employees do business around the world.
Keen to learn more about Hannon Travel’s approach to business travel?
Email info@hannontravel.com to arrange a chat with one of our travel experts.
