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If you travel regularly for work you might want to look into frequent traveller travel insurance. Also called business travel insurance, this could be one way to get your overheads down.
What is business travel insurance?
Most travellers only purchase travel insurance for the length of a specific trip – two weeks overseas is covered by two weeks of travel insurance. Business travel insurance, also known as frequent travellers’ insurance, covers the traveller for a much longer period of time, usually a year. Some policies also cover family members travelling on the same trip. Like standard travel insurance, business travel insurance covers a variety of costs, including, at times, medical needs, lost baggage, cancellations and other unforseen and potentially costly difficulties. Travellers should always check the details of their policy to be sure that they are fully covered, and should always be aware of the specific costs related to the area to which they are travelling. The United States, for instance, has very high medical costs, and business people who travel to that part of the world must make absolutely sure their insurance covers any medical care they may need.
Where can I get frequent traveller insurance?
Many reputable insurers offer insurance for frequent travellers, as do some airlines. Some sellers require the traveller to subscribe to particular services before they can buy business travel insurance. For instance, the QBE Insurance plan offered by Qantas is only available to Australian Qantas Club and Qantas Frequent Flyer members.
Is business insurance cheaper?
Occasional travellers are generally better off purchasing insurance per trip, as their most travelling is for short enough periods of time and infrequent enough that buying one or two premiums is more economical than paying for a year’s insurance. However, anyone expecting to make multiple trips throughout a year should definitely get a quote for business travel insurance. Even travellers making a few trips in a year can save by purchasing yearly insurance, depending on their policy.
Regardless of the decision, travel insurance is almost always a must for any travellers. Business travellers, just like ordinary vacationers, can run into unexpected difficulties while overseas, and whether they decided to purchase single trip insurance or a business travel policy, they should always make sure they have some sort of travel insurance policy.
