RateCity looks into the world of business and corporate credit cards and how you can save when it comes to travel insurance.
May 18, 2010
Whether you have planned for the sales team to go to Queensland for a conference, or your advertising manager is off to Hong Kong to attend a client meeting, have you ever stopped to think what happens if one of your employees fell or broke their arm or their bags were stolen while they were away?
Business trips are a major part of most companies, both small and large, with some employees travelling internationally on a weekly basis.
It's better to be safe than sorry
As the employer it is your responsibility to ensure that you have adequate cover for your employees in case something occurs while they are away on business. Accidents do happen and usually when you least expect it, so by ensuring your staff members have the appropriate level of cover can cost you less overall.
Medical bills overseas alone can be astronomical and worker's compensation can be very costly, so save yourself and your business the extra costs and don't think twice about taking out travel insurance for your employees.
Typically travel insurance policies cover:
- disruptions to your travel plans (example cancelled flights);
- medical expenses from personal injury or illness;
- theft; and
- loss of goods.
The price of travel insurance
Travel insurance can be quite expensive depending on where you are travelling to and what company you organise it through, but there is some good news. Some businesses may not have to fork out extra money for travel insurance as there are business credit cards available that include travel insurance as one of their benefits. Just by paying and booking for the travel on your credit card, will ensure you are covered.
Not all cards offer this however, but usually the gold- and platinum-level cards that include reward programs do. To find a card that does offer travel insurance for your company, compare online to find a card that not only benefits your business but offers a low interest rate as well.
There are a range of business and corporate credit cards available that offer travel insurance on their list of features such as:
- Bank of Queensland offers a Business Gold Visa credit card, currently set at 19.99 percent which offers free international and national cover (as at May 17, 2010).
- Westpac Business Choice Rewards credit card at 18.74 percent on purchases offers a range of complementary insurance options (as at May 17, 2010).
By having a business or corporate credit card that includes travel insurance, not only will your business save money but you can have peace of mind knowing that your employees are protected while they're away.