International travel for business purposes has significantly increased in the UAE in the past few years. No doubt, traveling abroad can open exciting business opportunities for organisations. However, despite effective travel management, things can go wrong during or before your corporate travel or a planned business trip. Your travel plan may get cancelled due to an emergency or you may lose your baggage at the airport. Such incidents can lead to financial losses for business travellers.
Wondering how to deal with these situations? Opting for international travel insurance can be a smart decision. The insurance can help cover your losses and avoid potential setbacks while you are traveling for business.
In this blog, you will explore the essential international travel insurance coverage for business travelers in the UAE. Let’s dive in!
What is International Travel Insurance?
The comprehensive travel insurance is a policy that safeguards business travellers from financial expenses incurred due to unanticipated events while traveling for business purposes. This insurance serves as a financial cushion and allows individuals to navigate through difficulties without being burdened because of unexpected expenses. From medical emergencies to lost baggage, international travel insurance provides coverage for a number of contingencies.
What Does International Travel Insurance Cover?
When things do not go as expected, dealing with the situation in a foreign land can be quite challenging. That is where individual travel insurance or group travel insurance, as the case may be, can come to help. However, before you get the insurance, knowing about its coverage is essential. Read on to explore everything in detail!
Medical Coverage
Employees can fall ill or get injured during international business trips. Dealing with medical costs in countries with high healthcare expenses can be tough.
The international travel insurance can help pay for all the hospital and medical treatment expenses. Moreover, it also covers the medical evacuation expenses or the cost of transporting a patient to the medical facility.
Baggage Coverage
Imagine waiting for your luggage at the baggage counter of the airport and it never arrives. Loss, damage or delay of your baggage and personal belongings during a trip can undoubtedly be one of the worst travel experiences for any business traveller in the UAE.
Having comprehensive travel insurance can prove to be beneficial as the policy provides financial compensations for such lost, stolen or lost items. When your baggage is delayed, travel insurance can offer you the requisite funds for purchasing the essential items like clothing, toiletries and medicine.
Travel Delay Coverage
Flight delays can be quite frustrating. For time-sensitive business travels where delays can have a significant impact on the project timelines or meeting schedules, such delays can be of great concern.
Business travellers may incur additional expenses for rebooking fees, hotel stays, and meals as a result of flight delays, extended layovers or missed connection flights. An international travel insurance policy can offer coverage for all such costs. As a result, you can continue your business trip with minimal out-of-pocket expenses.
Stolen or Lost Documents Coverage
When on a business meeting overseas, you are most likely to carry crucial documents with you. What if any of the documents get stolen or lost during travel? It is sure to cause a lot of stress and incur financial losses. For instance, if your passport gets lost, you will have to visit the embassy and spend a lot to get a new or duplicate one.
However, if you have international travel insurance, you do not have to worry. Travel insurance can provide you with the necessary assistance to address such situations, and reimburse the expenses incurred therein. The policies can offer stress relief to the travellers and enable them to focus more on their responsibilities instead of the administrative challenges.
Personal Liability Coverage
Business travel insurance can also offer protection to travellers against any personal liabilities on their part if they unintentionally cause third-party property damage or injury whilst traveling. This coverage proves to be a safeguard in situations like networking activities and corporate events, where accidents caused by you, even if totally unintentional, can lead to legal claims.
Trip Cancellation or Interruption Coverage
Business trips are usually booked well in advance. However, unexpected events like extreme weather conditions or medical emergencies can result in last-minute cancellations. Such interruptions in business travel are beyond the control of anyone. That is why being prepared for it has become an absolute necessity. With international travel insurance, business travellers in the UAE can get reimbursement for non-refundable expenses. As a result, it can minimise the financial impact of cancelled flights, event fees, or accommodation.
What is Not Included in the International Travel Insurance?
Besides having an idea of the coverage offered by business travel insurance, knowing the exclusions is equally vital. Read on to explore everything in detail!
- Expenses resulting from drug or alcohol misuse during the business trip
- Any intentional self-injury resulting in the hospitalisation of the individual
- Liabilities arising out of breach of law set by the foreign country
- Any claims associated with hazardous activities
- Medical or non-medical expenses arising due to war or acts of war.
Quick Tips for Choosing the Right International Travel Insurance
Ready to get international or domestic travel insurance? Delve into the helpful tips to make the right choice!
- Nature of Trips: If you frequently travel overseas for business purposes, opting for annual plans is a wise decision. In other cases, a single trip plan is the appropriate choice.
- Check the Coverage: Before finalising any travel insurance, taking a close look at the coverage is a must. Choose policies that offer maximum coverage at competitive prices.
- Review the Exclusions: Make sure to gain clarity on what’s not included in the insurance to avoid confusion later.
- Evaluate the Claims Procedure: Look for international travel insurance that has a simple and straightforward procedure for making claims and obtaining compensation.
Conclusion
Acquiring international travel insurance is indeed worth the investment. It is especially beneficial for UAE business travellers who frequently attend meetings and conferences abroad.
Are you looking for the best family travel insurance or business travel insurance in the UAE? UIB can come to your help. Connect with the professionals to get top-notch solutions with affordable premiums.
Disclaimer
This article provides only an overview of the subject matter and is not intended to be exhaustive in any way. The content is for general information only, and should not be construed as legal advice on any subject matter. It is therefore, not limited or warranted in any way.
For more specific advices relating to your insurance needs, please contact us directly on enquiry@uibgulf.com.
