Every day there are thousands of business men and women boarding planes, trains and other modes of transportation in order to travel as part of their job. These individuals need to have business travel insurance that covers them in a variety of situations. There are many options to choose from and the best bet for business travel insurance is a package that puts all the necessary coverage in one plan, including medical, delayed or missed flight insurance, baggage insurance, cancellation insurance and a comprehensive policy to cover any other events that aren’t included individually. The following information is designed to provide an overview of the various components that should be included in business travel insurance.

Medical Travel Insurance

It is impossible to predict when an injury or sickness will occur and this makes medical travel insurance very important when planning a travel insurance package. Planning for the unlikely event that a sickness or injury could occur just makes good business and financial sense and shows that the business person is planning for every possibility.

Business people that travel to foreign countries are at greater risk to develop illnesses that they might not otherwise have encountered. Viruses can be contracted in foreign water and even the foods that are not part of the traveler’s normal diet. If this occurs, the business person many need to seek medical help. It can be difficult to find a foreign doctor or hospital that accepts health insurance, unless the insurance is specifically designed and written for travelers.

Medical insurance for travelers is relatively inexpensive and can be included as part of the overall travel insurance package. This provides a peace of mind that should the business person become sick, quality healthcare can be obtained without the traveler going broke in the process.

Medical Evacuation Insurance

Medical evacuation insurance provides the traveler a way to get back home should they need to be evacuated from their location due to a medical emergency. This coverage also provides for evacuation to the nearest hospital if necessary and then home after health care is provided.

Evacuation can be a major expense, particularly if the health condition or injury requires the use of a medically outfitted mode of transportation, such as an airplane with a hospital bed and staff. It can cost thousands and thousands of dollars to find medical evacuation transportation. Having this insurance makes it possible to find a way home or a modern hospital without worrying about the cost.

Evacuation insurance can also be a life saver if a contagious virus or other condition develops while on business that prevents travel on a commercial airline where other passengers would be affected.

Trip Cancellation Insurance

Most business people have their trips planned well in advance of their actual travel date. Flights, hotels and rental cars are typically booked and paid for by the office staff months in advance. This is good planning but can also open the door to losing money should the trip have to be cancelled due to business meetings that can’t be changed, family emergencies or other reasons. Most hotels and airlines charge stiff fees for cancelling and in some instances the entire cost is forfeited, for instance if the cancellation is the day of the trip. However, adding trip cancellation insurance to the travel insurance package makes it possible to either have the costs refunded or the dates changed for the travel without incurring any penalty fees. This should be considered a must for the business traveler since business trips and meetings can change overnight.

Baggage Coverage

Baggage coverage provides compensation for the loss of baggage, a seemingly common occurrence for travelers. Lost or stolen baggage can be a nightmare for a business traveler who needs to be dressed for meetings and other important events. Comprehensive baggage coverage can also provide cash to be used in order to purchase clothing and necessary personal items while the luggage is being located or a complete replacement is made.

Missed Connection Coverage

One delayed red light, bad weather or even a departure gate that is on the complete other side of the airport can cause a connecting flight to be missed. In some situations this can be costly; however, missed connection insurance can allow the flight to be replaced with a new one without incurring fees.

Travel Insurance Packages

Travel insurance packages combine all of these insurances into one bundle and make it cost effective to purchase and have in place for the trip. There are many different travel insurance companies that can help put together these types of packages. Travelers should investigate the various possibilities and customize a package for their needs. Business travel insurance will help prevent financial loss should there be any unforeseen events such as missed flights, lost baggage or illnesses.