Business travel insurance

While it’s true the world is more connected than ever thanks to online communication tools, it’s sometimes better to talk face to face. This is especially true in business – winning contracts, networking and meeting clients can all depend on travel, whether it’s across the globe or up the M4.

Travel insurance might not be the first thing that comes to mind when planning a business trip, but having the right policy in place could be a lifesaver if your journey ends up being delayed, cancelled or affected by issues such as lost baggage.

Here’s everything you need to know about choosing the right business travel insurance. 

How is business travel insurance different?

Whether you’re travelling for business or pleasure, making sure you’re insured will safeguard you against costly situations that aren’t your fault. Expenses associated with cancelled flights, lost or stolen luggage, illness and accidents will all be covered with the right travel insurance policy.

Specific policies tailored to the needs of business travellers do exist, although standard travel insurance policies can often be used for both holidays and business trips. You’ll probably be bringing different belongings on a business trip than you would on a holiday, so check that your policy covers gadgets like laptops and phones. Losing these could potentially ruin your trip, and if you need to replace them quickly, the right policy will help you to pay for it.

Look out for exclusions regarding business use in your policy. At Admiral our travel insurance covers you for both leisure and business trips, but policies from other providers may not.

What should business travel insurance cover?

As we’ve already mentioned, gadgets such as laptops and phones are a major component of travelling for business, so you should check that your policy covers you against lost, stolen or damaged devices. You can upgrade your Admiral travel insurance policy to include gadgets with our optional gadget travel insurance add-on.

It’s highly recommended that you back up any essential data on an external hard drive and carry it in a separate bag. Most insurance policies won’t cover you for lost data, and if a big business contract is riding on a presentation that lives exclusively on your misplaced laptop, the consequences could be costly.

Cancelled flights or missed connections could affect the cost of your business trip. A good travel insurance policy will cover you for travel disruption, paying for replacement accommodation and travel if your journey doesn’t go to plan.

Purchasing the right travel insurance policy will also mean that if your business trip ends up getting delayed or cancelled, you’ll be able to recover the costs of unused deposits, hotels, excursions and other pre-booked expenses from your insurance provider.

The same goes for trips that are cancelled due to ill health. If you become ill on or before the date you’re due to travel, you’ll be able to get your money back providing that you have a valid travel insurance policy in place. Bear in mind that you may need to provide proof from a doctor that you’re unfit to travel. 

If you become ill during your business trip, a suitable travel insurance policy will pay for emergency medical treatment and repatriation (returning you home). 

Mixing business with pleasure

While business trips may conjure up images of suits and briefcases, there’s no reason why you shouldn’t have fun while travelling with work.

Indeed, networking abroad may involve playing golf, cycling or taking part in other activities. You might also arrange to meet your family or friends for a holiday once your business affairs are taken care of. If this is the case, choosing a policy that covers you for both business and pleasure is a smart move.

At Admiral, we cover our travel insurance policy holders for personal accident and liability when partaking in a variety of sport and leisure activities, including golf, cycling, fishing and yachting (providing it’s inside territorial waters).

More adventurous activities such as assault courses and white water rafting can be covered by paying an additional premium. Find out more about adventurous holiday cover with our guide.

If your trip will involve skiing or snowboarding, you can upgrade your policy to include winter sports cover. Likewise, for those whose business takes place on the golf course, Admiral offers optional cover for golf equipment, replacement hire and lost green fees.

Annual vs single trip policies

If you travel abroad for business several times a year, it may be more cost-effective to take out an annual travel insurance policy.

As well as working out cheaper than purchasing multiple single trip policies, an annual policy means you can arrange business trips quickly without needing to worry about organising insurance every time.

Admiral’s annual multi-trip travel insurance covers you for unlimited travel for trips lasting up to 31 days, and includes medical emergency cover, personal liability, legal protection and personal belongings cover. Whether you’re travelling in the UK, in Europe or worldwide, there’s an annual travel insurance policy to suit your needs.

Check whether you already have cover

Some companies offer their staff insurance as part of their employment package, so it’s worth checking that you’re not already covered before taking out travel insurance. Having two travel insurance policies isn’t just more expensive in the short term; it also means that your insurance premiums could increase when renewal time rolls around.

Of course, if you’re self-employed then you’ll almost certainly need to arrange your own travel insurance. Take a look at Admiral’s Single Trip and annual policies if you’re planning to make a business trip in the near future.