What to look for in a business travel insurance scheme
- Lost or stolen items, including work laptops and mobile phones, misplaced luggage, and personal belongings. This should also include cash if you need to travel with your per diem.
- Itinerary changes and missed flights. A change of plan can be costly at short notice, so you need to make sure you’re covered in that event.
- Cancellations. You may need to make a claim without ever having taken off in the first place. If a meeting gets cancelled by either side, you want to make sure your flights and accommodation will be reimbursed.
- Health costs and hospitalization. This is particularly important when visiting countries like the United States with high healthcare fees, and developing countries where evacuation can even be necessary.
How we choose the companies on this list
- For U.S. providers: A 14-day trip from New York to Beijing, with a trip cost of $5,000
- For British providers: A 14-day trip from London to Beijing, with a trip cost of $5,000
- For European providers: A 14-day trip from Paris to Beijing, with a trip cost of $5,000
Business Travel insurance for U.S. companies
Travel Insured International - Worldwide Trip Protector
What makes it different?
- Very high medical evacuation coverage - up to US$1,000,000
- High security evacuation coverage - up to $100,000
- Excellent compensation for baggage delays - $500 after just 12 hours
- Very good lost baggage coverage - $2,500
Annual price: Not offered
MH Ross - Bridge Policy
What makes it different?
- Good reimbursement for interrupted trips - up to 150% of trip costs
- Fast coverage for delayed trips - $200 per day after only 6 hours
- Good lost baggage coverage - $2,000
- Also good baggage delay reimbursement - $400 after 12 hours
Annual price: Not offered
John Hancock - Bronze
Why this package?
- Short wait for compensation on delayed flights - only three hours
- Lower medical coverage - up to $50,000
- Good medical evacuation coverage - up to $250,000
- Covers terrorist attacks - not all providers do
Annual price: Not offered
British travel insurance for UK companies
Economycover.com - Premier Plus
Highlights of this package:
- Excellent medical cover - up to £20,000,000
- Good travel cancellation - up to £8,000
- Very good lost baggage coverage - up to £5,000
- No excess for medical coverage in Europe
Quoted annual price: Add £10.41
Southdowns Insurance - Gold package
What’s included?
- Excellent medical cover - up to £20,000,000
- Decent lost baggage assistance - up to £2,000
- Decent cancellation insurance - up to £3,000
Quoted annual price: Add £1.72
Coverwise - Standard package
What’s in the package?
- Excellent medical coverage - up to £20,000,000
- Lower cancelation coverage - up to £1,000
- Lower lost baggage coverage - up to £1,000
Quoted annual price: Add £9.37
Travel insurance for international companies
Allianz Travel - Business
What’s included?
- Good medical coverage - up to €300,000
- Baggage damage is covered
- Medical evacuation is covered
- Costs covered for flight delays
Quoted annual price: €168