Have you ever thought about what could go wrong during a business trip?
Business travel is often exciting, but it comes with risks that many don't consider until it's too late. Unexpected medical emergencies, lost luggage, or missed flights can derail an important trip. That's why business travel insurance is a smart investment for any company.
What does business travel insurance cover?
- Medical expenses: Cover for medical emergencies, including hospitalization and emergency transport, whether you’re in Australia or overseas.
- Lost or stolen luggage: Protection against the accidental loss of business-related items, from your laptop to important documents.
- Missed flights and cancellations: If unforeseen circumstances cause delays or cancellations, business travel insurance can reimburse you for rebooking costs.
- Rental vehicle excess: Damaged a rental car? Business travel insurance often covers the excess fees charged.
It's not just about the financial cost—it's about the peace of mind that comes with knowing your team is protected during business trips.
Did You Know?
Did you know that visitors traveling for business events spent $19.8 billion in Australia in the year ending June 2024? This includes $16.1 billion from domestic overnight travel alone, highlighting the significant economic impact of business travel in the country
How can business travel insurance help your company?
- It reduces financial risks by covering unexpected costs.
- It keeps employees focused on work, not on worrying about what could go wrong.
- It improves employee wellbeing by ensuring they’re supported in emergencies.
When employees travel for work, there’s always the chance that something can go wrong, from health issues to transportation delays. Business travel insurance ensures that your company doesn't bear the financial burden of these unforeseen events. At Midland Insurance, we understand the importance of having the right insurance in place, especially when business trips take your team overseas.
What should you look for in a business travel insurance policy?
- Coverage for medical emergencies, including international hospital fees and emergency evacuation.
- Protection against lost or stolen equipment, such as laptops and business-critical documents.
- Reimbursement for missed flights or transportation delays.
- Optional coverage for pandemic-related disruptions, ensuring peace of mind during uncertain times.
If you’re sending employees on regular business trips, consider opting for an annual business travel insurance policy. This option covers multiple trips throughout the year, which can be more cost-effective and hassle-free compared to arranging insurance for each individual trip.
It’s important to choose a policy that fits your company’s travel needs. You want to ensure that any *pre-existing medical conditions* are disclosed and covered, and you may also need to look at policies that cover family members or leisure travel if employees combine work trips with personal time.
“The perception of risk is a key driver in the decision to purchase travel insurance, as it mitigates uncertainty and provides a sense of security during trips.”
— PLOS ONE JournalProtecting your company with Midland Insurance
At Midland Insurance, we specialize in providing comprehensive insurance solutions tailored to the needs of Australian businesses. Our corporate travel insurance offers extensive coverage that can be customized to suit your company’s requirements, whether you're sending one employee or an entire team.
Get in touch with us today to learn more about how our business travel insurance can safeguard your company’s operations and your employees' well-being during business trips. Contact us here.
If your business operates in industries like transport & logistics or film & TV production, consider exploring our industry-specific insurance options to cover other risks related to your operations.
