Choosing the best travel insurance may be one of the most important investments you make for your employees. Corporate travel insurance could mean the difference between a smooth journey or finding your employees stuck in a tough spot. Here are four essential facts to consider before you commit to a business travel insurance policy.

1. Beware of Exclusions

Before you commit to purchasing travel insurance, keep an eye on the exclusions in each policy. The best travel insurance company is always the one that covers you no matter what — but many do exclude certain scenarios including acts of war, pandemics or certain sports and activities. 

• During pre-trip training, communicate insurance exclusions to your employees before departure.
• Upgrades, such as “cancel for any reason” may be money well spent by your company in the long run.
• Always look at medical coverage exclusions for pre-existing conditions.

Consider hiring a corporate travel agency to take care of booking corporate travel insurance if reading the fine print isn’t your specialty.

2. Look Out for Great Customer Service

You could have the best business travel insurance in the world, but it means nothing if employees can’t access the care they need quickly. 

• Your employees should have access to 24/7 hotlines for medical care and other needs.
• Read reviews and go based on expert recommendations and personal experience if at all possible.
• Ask a corporate travel agency to look at your specific situation and make a recommendation.

Corporate travel insurance should be comprehensive and easy to access abroad. Look for established and reputable companies who are experienced and certified in the industry.

3. Compare, Compare, Compare

There will be dozens of companies online promising the best coverage. Comparing corporate travel insurance plans is not optional — you want the best deal.

• Find a comparison tool online to help you identify the various areas of coverage that may be lacking in each plan.
• Really look at medical coverage deductions and amounts, as this is likely the most essential to your employees.
• Narrow your options to three or four, and then consult a professional for a second opinion.

If you have an advisor who can help you compare plans for your business purposes, this is the time to contact them. If you need a second set of eyes, try consulting a travel management company.

4. Update Your Travel Policy

Don’t forget to add essential information into your company travel policy. It should always be up-to-date. If events in the travel industry have changed, so should your travel policy.

• Include facts about your corporate travel insurance in your policy.
• Make sure you cover information for domestic and international travel.
• Even if you are a small business, you should put a travel policy in place if employees will travel on your behalf in any form.

Have copies of your updated policy on hand in hard copy and in digital format. Don’t know where to start? Consult our travel advisors at Forest Travel to lead you in the next steps of action for selecting the best travel insurance for your business.