If you have ever tried to acquire a business travel policy, you will realize that they are fairly different from the regular travel policies. Insurance companies take cognizance of the fact that travel for business purposes may involve different kinds of risks as compared to travel for pleasure. Which is why they customize the business travel policies to match the risk assessment.
In a business trip, one is likely to carry certain kinds of equipment for work related purposes. Laptops, Palmtops, printers, cell phones, additional luggage to make a few are certain kinds of equipment that one may carry while on a business trip. Since these are high value items they are at a considerable high risk of theft and damage.
While developing a business travel insurance plan there are various factors to take into account to ensure that all the possible risks are covered and assessed. Some of the elements that are considered are the time taken to travel, the destinations that the business personnel is visiting and the purpose of travel. To give an example, a journalist traveling to Afghanistan will probably be offered a business travel plan with a higher premium as compared to a sales executive traveling to Boston to make a sales pitch. Some insurance companies may offer joint insurance plans.
Before and after you have chosen a particular insurance plan make sure that you go over the ‘booklet’ provided along with the insurance documents. A few minutes spent on the information may prove to be very useful if the need arises to file a claim.
This booklet contains useful data like the policy number that needs to be quoted in all communication that is made with the insurance company. Some insurance companies insist that the policyholder contact the company within a certain period of time of an incident if a claim is required. Which is why it is vital that this small book be with you all the time. Some companies have a 24 hour hotline which can be accessed in times of an emergency and if cash is required immediately. If the claim is mad on the basis of a medical situation relevant proof and documentation shall be required. Avoid sending the original bills and prescriptions and send only copies unless if is mandatory and mentioned in the policy guidelines.
Be careful also to review the document before deciding where you plan to stay since some companies stipulate that the policyholder should stay in company provided accommodation to be eligible for the claim.
