All you want to know about Corporate Travel Insurance in the UAE
Written by Lawrence
If you are a business owner, the one thing you might not pay enough attention on is corporate travel insurance. It is such an important part of the corporate world and has various advantages. It is really popular in the UAE and there are many companies which offer it. Read on to know more about it.
What is corporate travel insurance?
It is a special kind of insurance plan that’s designed for business owners or companies. When you send one of your employees for work related travel, corporate travel insurance comes handy. It can be domestic or international corporate travel insurance.
If the employee meets with an accident during the trip, the company would be liable to pay. That’s why it is a good idea to get it for your employees and keep them and the company safe.
Corporate travel insurance inclusions
The inclusions may vary with the type of plan and each insurance service provider. But some basic inclusions for every travel insurance plan are –
- Emergency medical expenses, repatriation expenses, and evacuation expenses cover
- 24×7 emergency assistance
- Cover for travel-related losses such as baggage loss/damage, money theft/loss, credit card frauds, loss of travel documents
- Missed flights and other forms of transport, plane hijack cover, and baggage delay cover
- Personal liability cover, legal fee, and bail bond benefit
- Trip cancellation cover
- Personal accident cover
- Rental vehicle damage cover insurance
Corporate travel insurance exclusions
The following conditions and expenses are considered exclusions for any plan that you buy –
- Injuries when involved in illegal activities, attempted or otherwise
- Injuries caused due to self-harm or suicide attempts
- Damages due to any act of war including foreign invasions, terrorism, and riots
- Damages caused due to radioactive substances or explosions
- Damages or injuries caused when under the influence of drugs
- Injuries and damages caused when driving without a valid permit or DUI
Corporate travel insurance add-ons
If you wish to purchase any add-ons for your corporate travel insurance, you can get in touch with the executives of the insurance service provider. Usually, these add-ons come at an additional cost. Some of the most popular add-ons are –
- Adventure sports participation cover
- High-risk country protection
- Terrorism cover
Types of corporate travel insurance
There are different types of corporate travel insurance plans.
Based on travel frequency
Single trip business travel insurance
As the name suggests, a single trip business travel insurance plan secures the policyholder for a single business trip. In the UAE, most corporate travel insurance plans usually offer security for up to a 90 days’ trip.
Multi-trip business travel insurance
Multi-trip business travel insurance has an annual validity and covers all travels within that time span. It is an easy and cost-effective way of taking insurance plan for individuals who travel a lot for work.
Based on insurance coverage
Travel medical insurance
If you fall sick overseas when traveling for work, this insurance plan with come handy. It is most likely to cover the treatment and medical expenses during your business trip.
Baggage and personal item insurance
Losing your baggage can be one of the worst things to happen on a trip. To keep yourself safe, take baggage and personal item insurance. This is a type of travel cover that secures your baggage and belongings in case it is lost or get delayed during travel.
Trip cancellation insurance
Due to any unforeseen circumstances, if your trip is cancelled or postponed indefinitely, you can avail the benefits of trip cancellation insurance as part of this insurance.
Evacuation insurance
There are certain medical situations where one might need to return to their home urgently. Evacuation insurance as part of corporate travel insurance proves to be beneficial in such emergency situations.
Travel life insurance
Travel life insurance secures the policyholder against life-threatening events that may cause bodily injuries or loss of life during the travel.
Top corporate travel insurance companies in the UAE
You can consider the following companies to your plan –
- Orient Insurance
- AXA Insurance
- Alliance Insurance
- Union Travel Insurance
- RSA Travel Insurance
- ADNIC Corporate Travel Insurance
- GIG Gulf Insurance
- AIG Travel Insurance
- Emirates Travel Insurance
- HSBC Travel Insurance
- Oman Travel Insurance
Corporate travel insurance benefits
Some of the main benefits are –
1. Reduces risk for the company
The biggest benefit of business travel insurance plans for the firms is that they reduce financial risk and liability on their part. If an employee is traveling for work and gets injured while on the trip, the company may have to bear the losses. A business travel insurance plan provides sufficient coverage for all such related expenses.
2. Offers great protection
Travel can be tiring and unpredictable, so why take a chance when you can get the best corporate travel insurance plans? This insurance provides optimum protection and support that one may need when on a trip abroad. You can overcome various situations, or at least have control of them when you have a business travel insurance plan in place.
3. Quick and easy access
In case of an emergency, you can quickly get in touch with the experts of the insurance provider through their 24X7 helpline. The team is there to assist you and would solve any queries that you might have regarding your plan cover.
4. Travel with peace of mind
You don’t have to worry about any unforeseen circumstances if you have a good corporate travel insurance plan. The plan will cover you and bring significant peace of mind knowing that you are safe in the hands of experts.
Best travel insurance with BuyAnyInsurance
Secure your trip and get the best quotes for travel insurance at www.buyanyinsurance.ae
In just a few clicks, you can compare different travel insurance plans. Pay using any convenient online payment method and get the travel insurance policy delivered to your inbox in just a few minutes.
FAQ
Yes, it covers the expenses resulting from the theft or loss of essential documents, such as your passport, while traveling. We will assist in covering the costs of replacing your documents as part of the policy coverage.
Rates vary among insurance providers, but you can obtain a policy starting from as low as 33 DHS for your trip.
Individuals must be at least 18 years old, and eligibility extends to UAE nationals and residents with valid UAE visas, as well as business owners with a valid business in the UAE.
Typically, most corporate travel insurance plans do not cover the loss of luxury items. If you are traveling with such items, you can opt to purchase an add-on rider specifically for luxury items, in addition to the basic business travel plan.
Read more about (Travel Insurance, International Travel Insurance, Domestic Travel Insurance, Group Travel Insurance, Senior Citizen Travel Insurance)
Originally published May 19, 2023 03:24:10 AM, updated Apr 02, 2024
