Europe Insurance Multi Travel Trip

Admin | November 23, 2011 | Comments Off

Europe Insurance Multi Travel Trip

Europe Insurance Multi Travel Trip

Annual travel insurance is a simple umbrella policy for travelers to reduce risk of experiencing a problem during a trip. Annual business travel insurance takes this concept and applies it to the corporate world, helping to protect equipment, time, employees and corporate investments and potential profits. The U.S. Travel Insurance Association, the largest industry organization for companies selling such policies, notes that U.S. consumers spent more than $1.3 billion on travel insurance, from trip cancellation, to equipment insurance, to medical travel insurance in 2006. Learn why more small businesses and large corporations are buying annual business travel insurance.

Annual Business Travel Insurance Basics

Unlike a short-term, one-trip policy that is purchased to cover a single travel event, annual business travel insurance is a policy that is purchased to cover an entire year and all corporate or small business travel-related activity during that year. While many travelers buy one-time policies for specific trip and need to manage the premium, the policy, and any date or coverage changes, with an annual business travel insurance plan the blanket coverage means owners and employees experience less hassle.

Most business travel insurance policies fall into three categories:

  • Medical emergencies
  • Travel interruption or cancellation
  • Equipment loss

Medical Travel insurance for Emergencies and Evacuations

For U.S.-based companies and employees, travel insurance may need to include some form of medical or emergency travel insurance. For instance, what if a corporate employee experiences a medical emergency during a convention in Europe and needs to be evacuated to the United States? Who pays for the associated costs?