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Can My Business Be Covered For Travel Insurance?

You bet you can! With the World and Australia opening up the time is now to consider Corporate Travel as part of your insurance program.

SME Businesses are now travelling again internationally and domestically after two years of lockdowns and there is cover out there to protect you and your valued staff.

It’s called Corporate Travel and can cover your business for both Domestic and International travel as defined by the Insurer. Travel insurance is just as important as your travel passport. We are more cautious than ever when travelling abroad so even more reason to check in with your local Ausure Broker about this product. Incidental and pure Leisure travel can also be covered for Business Owners, Directors and Senior Management, their accompanying spouse and dependent children. All Employees can be covered for incidental travel attached to a business trip.

Like any good Travel policy, Corporate Travel has many sections and can now include COVID related coverage in some sections. Let’s take a quick look at a few of these covers that are provided:

Medical & Evacuation Expenses and 24/7 Emergency assistance to help you in your time of need abroad.

This could be emergency medical, travel or security assistance and can assist in most countries and times or day. So that could be emergency doctors, medics, safety and security experts on call 24 hours a day / 7 days a week to support you and your staff.

A recent Insurance Council of Australia survey results indicates a high percentage of Australians have overestimated the overseas travel protections provided by the Australian Government.

  • 68% of Australians surveyed mistakenly believe that an Australian experiencing a medical emergency overseas will receive assistance from their consulate to get the medical treatment they need.
  • 50% also believe that the Australian Government will arrange and fund repatriation for Australians experiencing a medical emergency overseas.

As an example of how high overseas Hospital costs can get – In some US hospitals it can reach $30,000 a day! Simple surgical procedures in some Asian countries can cost up to $40,000.

  • In today’s world, we are all concerned about extra costs associated with Cancellation and Loss of deposits.
  • Unexpected death, injury or sickness of an insured person are key coverages of a Travel policy.
  • Luggage being lost or stolen, Personal Effects and Money loss and even coverage for luggage delays.

These can all form part of a Corporate Travel policy and kicks in due to unforeseen circumstances.

  • You also have a personal liability cover as well covering you worldwide, covering you for compensation and legal defence costs should you be held legally liable.
  • Rental Car Hire Excesses can be in their thousands and a Corporate Travel can cover you for the higher excess so you don’t have to pay extra to your rental car hirer to reduce the excess.

So if you have an idea of what travel your business and your employees may be doing during the year it’s essential to get onto Corporate Travel Insurance sooner rather than later. You’ll have coverage straight away.

As always it pays to talk with your Ausure Broker about the coverage for your business and that it fits your needs and objectives.

**Note – Pure Leisure travel for all Employees may not be covered in a Corporate Travel policy so it is very important to talk to your Ausure Broker about this.

John Mills
Broking Manager
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