Travelling anywhere can be stressful, but business travel often epitomises that to another level if all things are not done perfectly. It is due to the stress of always being at your best and avoiding causing your business losses.
However, with the increasing influence of India on the global market and more significant investment by foreign countries in India, business travel has become another tenet of a successful corporate experience. Whether the trip is within one’s own country or abroad, it is essential to understand and deal with other risks lurking in the background.
But worry not. This is where one can avail of business travel insurance to mitigate these risks and instead spend their complete attention on the task. Whether it is for OEM visitation, to meet investors, to close deals, or to deal with government agencies for approvals, travel is necessary. Opting for travel insurance for your business trip can help you focus 100% on the objective while leaving other stress behind.
Keep reading to find out what business travel insurance is, who is the best business travel insurance provider, and how to get travel health insurance.
What is travel insurance for business?
Before exploring travel insurance for businesses, let us first understand what travel insurance is. In one sentence, travel insurance is a way to protect the traveller’s well-being and financial security while on a trip. Expanding on that, it protects the traveller from risks arising from unexpected situations while travelling.
For example, many travellers got stuck in different countries during the COVID-19 pandemic. This was due to restricted or refusal of entry due to being COVID-positive or due to the lockdown. This resulted in people running out of funds and needing additional emergency funds from their company or family. With travel insurance covering emergency medical evacuation or COVID-19, this risk can be mitigated, and one can get appropriate care if tested positive for COVID-19.
Travel insurance is necessary to protect oneself from these unexpected circumstances and might also be a mandatory visa requirement in certain countries.
Who offers the best business travel insurance?
I run a small studio in India with a branch in Canada and have investors from Dubai and the US. This requires me or my team to go on business trips to Canada, the US, and sometimes to the UAE. Based on my experience purchasing travel insurance for myself and my employees, I prefer to go with Niva Bupa Travel Insurance.
Their plans are just what I need for the trip, and I can always get a more comprehensive plan from them depending on where I am travelling to. With various curated plans and a wide range of coverages, I recommend them wholeheartedly to anyone looking to purchase travel insurance.
I have seen that they offer more than 40 coverages, which one can find spread out in different curated plans based on the travel type and destination, and the traveller can choose from based on their requirements.
How do you get business travel health insurance?
Earlier, I just used to call the helpline and got some people to help me purchase a plan, but nowadays, I can do so online. Here are the steps to buy business travel insurance from Niva Bupa.
Visit the Travel Insurance section on the Niva Bupa website.Fill in the requested details in the form. It usually asks for the travel destination, duration, type of travel, and phone number. Based on these details, they offer a variety of curated plans after clicking on ‘view plans’. Once I have checked what I want, I complete the form and make the purchase. I will then receive the policy document within a few hours.Final Thoughts
It is that simple to purchase insurance for your trip nowadays, so there is no reason to delay it and subject yourself or your employees to undue risks of travelling abroad without the protection of travel insurance.
By availing the appropriate coverages based on your requirements and following these steps, you can focus on the business aspect of your trip. At the same time, this covers the background and protects the traveller from risks lurking in the background.
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