The doors of every airport lounge open for you. Flight attendants know you by name. You’re a Diamond Platinum Crown Elite member of every loyalty program.
That’s the glamorous side of being a business traveler. The less glamorous side? Cancelled flights. Mysteriously missing bags. Being coughed on by your seatmate for five hours straight.
Fortunately, business travel insurance can help protect you when things go wrong. Here’s how.
When you’re going on vacation, you buy personal travel insurance to protect your travel investment. That way, if your trip is canceled or cut short for a covered reason, you get reimbursed for your nonrefundable expenses. But wait — you’re not paying for a business trip out of your own pocket, so why pay for your own travel insurance?
Because business travel insurance exists to protect you and your possessions, and you can’t always count on your company to do that. If your personal laptop gets stolen from the airport, will your company pay to replace it? Or if you fall seriously ill while on a business trip overseas, will your company cover your hospital bill? A solid business travel insurance plan gives you the protection and peace of mind you need to travel with confidence. Also, if you buy travel insurance, you can be covered even if you combine personal and business travel.
Here’s a secret few people know: If you travel often for business (more than 3 times a year), you’ll get the most coverage for the least money with an annual travel insurance plan.
Annual travel insurance covers all your trips for the year, both business and personal, for one low cost. The AllTrips Executive Plan from Allianz Global Assistance is $459, which covers you for multiple trips, up to 45 days in length each, anywhere in the world.
How much coverage do you get? Almost too much to list. Your benefits include:
The AllTrips Executive Plan offers even more benefits, including 24-hour access to our multilingual assistance team in case of emergency. It also can cover you even if you have an existing medical condition, as long as the stated terms and conditions are met.
Annual travel insurance isn’t the right choice for everyone. If you’re an infrequent business traveler and if all of your trips are in the United States, you may opt instead to buy a domestic travel insurance plan for each trip. Just consider the benefits carefully — the low-cost OneTrip Cancellation Plus Plan, for instance, offers trip cancellation/interruption/delay benefits, but not much else.
With the AllTrips Executive Plan, benefits for trip cancellation and trip interruption is capped at $5,000. If you’re planning a family trip to Costa Rica that costs $7,000, you may want to insure that trip separately with the OneTrip Prime Plan, which can cover trip cancellations up to the amount purchased. Plus, kids 17 and under are covered for free when traveling with a parent or grandparent.
Keep in mind that the AllTrips Executive Plan includes many covered reasons for cancelling a trip, such as a company merger that requires you to work, a covered illness of a family member, or a terrorist attack at your destination within 30 days of the day you’re scheduled to arrive. However, if you cancel a trip for a reason that’s not listed in your policy, your cancellation won’t be covered.
Before you buy, call 1-866-884-3556 to get answers to specific questions about what’s covered and how business travel insurance works. Travel happy!