Business Travel Insurance

Travel Insurance is an essential your business cannot do without

The Foreign & Commonwealth Office cites figures that put the bill for the treatment of a stomach bug in California and return flights at £100,000 and treatment for a broken hip in Spain and return flights at £15,000.

Research by ABTA also shows that Britons severely underestimate the cost of medical treatment abroad.

The actual cost? £40,000. Is that a bill you or your employee would be willing and able to pick up?

To these eye-watering figures you must, of course, also add the cost to your business of any delay in getting your employee fit for work.

Then there’s your non-human and often expensive business assets, such as laptops, tablets and other electronic equipment. Should they fall foul of one of the world’s less cautious baggage handling systems, a street thief or simply be lost, how much would it cost for you to replace them?

The EHIC does not replace Travel Insurance

You might think you can rely on consular assistance or the European Health Insurance Card, instead of taking out business travel insurance. Put simply, that’s not the case.

The EHIC covers only essential treatment which does not include the cost of getting an individual back to the UK. That cost can run into tens of thousands of pounds.

Finding the right corporate travel insurance policy

To help you protect your employees and your business, Towergate Health & Protection can produce a bespoke group travel insurance plan which reflects your company’s actual business travel requirements.

That means looking at the number of employees who travel on your behalf, to where and how often.

Our business travel insurance specialists will then create your solution by marrying up that profile to the policies offered by leading providers such as AXA PPP Healthcare, BUPA and PJ Hayman.

Don’t go for just the cheapest policy

As is the (often misguided) way in the consumer market, the temptation to simply look for cheap business travel insurance is immense; and a quick Google search reveals an appealing low price. However, the potential pitfalls might only reveal themselves should you need to claim – and by then it’s too late.

So start by thinking about the kind of cover you require – then look at price.

It’s not about comparing the cheapest quotes but securing the best possible value. That means purchasing cover that effectively meets your needs at a reasonable and affordable cost.

What to consider when choosing your business travel insurance policy

• How many of your employees travel abroad on your behalf, to where and how often?
  These will be key factors in determining the best policy for your business.
• How much repatriation cover will you require?
  The costs of getting an employee back to the UK can escalate alarmingly quickly. The chances are you’ll want at least £1m in repatriation cover.
• How long will your employees stay abroad – and where?
  If staff members are likely to spend long periods working overseas you might want to examine the benefits of international health insurance.

Travelling alone or self-employed?

Our personal travel insurance policies will be more suitable to keep yourself protected throughout your trip.

Helping you find a business travel insurance package

Your dedicated Towergate Health & Protection account manager will be pleased to help you audit the extent and nature of your company’s business travel, guide you to the best available solution and provide ongoing support, be that amending your future protection to meet the changing circumstances of your business or helping should you need to claim on your policy.