Corporate Travel Insurance

Companies always seek to expand their markets to various locations and to achieve this business objective, the company will send employees abroad/other domestic locations for business trips. Now, it’s management’s responsibility to provide you with a corporate travel insurance having comprehensive coverage. Expenses for flight cancellations/delay, lost luggage & other personal belongings, medical treatment, emergency medical evacuation are some of the costs that need to be covered. The best planned itineraries can get collapsed, in case of any unexpected event during the trip.

A Corporate Travel Insurance ensures peace of mind, as the insurance companies offer 24x7 worldwide assistance.

Benefits of Corporate Travel Insurance

A Corporate Travel Insurance provides coverage against flight cancellation/interruption, loss of baggage, other personal belongings such as loss of passport, ticket, international driving license, etc. It also provides cover for expenses incurred towards the medical treatment during the course of the trip. You can get coverage against harsh scenarios such as terrorist attacks and emergency evacuation.

This travel insurance plan provides you with a protection cover that ensures guard against expenses arising due to unforeseen circumstances, while you are on a business trip.

Coverage under Corporate Travel Insurance

Following is the coverage available under a corporate travel insurance policy.

Health Cover: Maintaining good health is quite essential, when you are on a business trip. A corporate travel insurance plan covers the medical treatment expenses arising due to any illness or bodily injury. With the health coverage available under the plan, you can focus only on the business trip.

Trip Cancellation/Delay: Trip cancellations and delay usually happen and it hampers your trip as well. A corporate travel insurance plan covers you against pre-paid non refundable expenses in case of trip cancellation. In the event of travel delay, the policy compensates you for any unexpected hotel, dining, and transportation costs.

Loss/Delay of Baggage: It reimburses a certain amount when the baggage is lost, damaged or stolen. The insurance company also helps you recover your baggage. In case of delay of, a corporate travel insurance policy provides reimbursement for the essentials and in the meanwhile, airline locates and returns your checked baggage.

Personal Liability: Compensation for damages to a third party, including bodily injury, death or any damage to property, is covered under the travel insurance policy.

24x7 Assistance: Insurance companies offer round-the-clock assistance to the insured for any issues during the trip such as lost luggage, pre-departure services, trip cancellation, legal assistance and many others.

Accidental Death and Dismemberment (AD&D): Under a corporate travel insurance, you are covered against any mishap such as accidental death or dismemberment. You are covered for AD&D during the business trip.

Repatriation of Remains: In the event of death of the insured during the travel, the cost incurred towards transportation of remains to the area of principle residence is covered.

Emergency Medical Evacuation: In case of emergency medical condition during the trip, the expenses incurred towards the evacuation of the insured for immediate medical care are also covered.

Hijack: In case of hijack of your common carrier in which you are traveling, some insurance companies offer hijack benefit.

(The coverage available may differ from one plan to another.)

Best Corporate Travel Insurance Plans

Corporate Travel Insurance Plans	Eligibility Criteria	Key Benefits	Add-ons
Bajaj Allianz Corporate Travel Plan	18 to 60 years, 61 to 70 years (for senior citizens)	Medical Expenses, Evacuation and Repatriation Emergency dental pain relief Personal Accident Loss of Checked Baggage Delay of Checked Baggage Loss of Passport Hijack Trip Delay Personal Liability Hospitalization Daily Allowance	Not Available
Tata AIG Business Travel Accident	Corporate employees make overseas trips	Accident & Sickness Medical Expenses Reimbursement, incl Accident Dental expenses Emergency Evacuation Repatriation of Remains Hijack Benefit Personal Liability Hospitalization Benefit Accidental death & dismemberment Baggage Loss Baggage Delay Loss of Passport Assistance Services	Not Available
Chola Corporate Travel Days	3 months to 70 years	Medical Cover (Medical Evacuation Included) Repatriation of Remains Dental Treatment Checked Baggage Loss Checked Baggage Delay Passport Loss Personal Liability Personal Accident – Overseas/Domestic Trip Cancellation Trip Curtailment Trip Delay Hospital Daily Cash Hijack Relief Benefit International Driving License Loss	Not Available

Benefit Illustration

Let’s understand the benefits of a corporate travel insurance policy with the help of an illustration.

In case, you have opted for Bajaj Allianz Corporate Travel Plan, you can get coverage for the following scenarios.

Medical expenses and repatriation: It covers hospitalization expenses incurred for illness or accident, including medical evacuation whenever necessary.

Loss/Delay of checked baggage: It covers total and complete loss of baggage checked in, by an international airline. Delay of checked baggage covers the cost of emergency purchase of replacement items.

Personal accident: It covers death and permanent disability.

Trip delay: If the aircraft on which you are booked to travel from India, is delayed beyond 12 hrs, from the original scheduled departure time, the sum insured as specified under the plan is payable.

Loss of passport: It covers the reasonable and necessary expenses to obtain a duplicate passport or valid travel documents.

Personal Liability: It covers the legal liability attaching in a private capacity, during the course of overseas travel.

Under this plan, you can also get Hospitalization Daily Allowance.