Business Travel Accident Insurance
In today’s mobile society more and more people are traveling in the course of their jobs. Because of this it is essential to have business travel accident insurance that covers losses resulting from injuries while traveling in the line of employment. This type of insurance not only covers injuries resulting from accidents while traveling on the job but also provides compensation for loss of life.
Who Pays for Business Travel Insurance?
Of course you could always purchase your own travel insurance policy but most often the company you work for covers the cost of this insurance. Often referred to as BTA, business travel accident insurance should be provided by your place of employment simply because you are traveling in the ‘line of duty.’ Just as your employer needs to carry Worker’s Comp in case you are injured by an accident while on the physical location where you work, business travel insurance is rightfully provided by your employer.
Can I Collect on Both BTA and My Own Insurance?
One of the first questions many business men and women ask in relation to business travel accident insurance is whether or not they can collect on both their own travel/accident insurance as well as on the policy their employer provides. The answer to that question is a simple “Yes.” Benefits are paid in addition to any benefits you would receive from your own personal policies. While it isn’t intended to be a supplemental plan, BTA can be considered as such when purchased by your boss in addition to coverage you already have.
Are There Any Limitations and Exclusions?
Most policies have limitations and exclusions that will be outlined quite clearly on the policy itself. For example, if you are injured in an accident where you were at fault and under the influence of some intoxicating substance then chances are the policy would not pay and that would be very clearly outlined in the exclusions section. Limitations are set up when the policy is purchased and that is something that is in the hands of your employer. Policies are written with benefits that are payable up to a certain amount for very specific injuries and other losses.
Bundled Packages Including Business Travel Accident Insurance
Oftentimes when you travel for your job you will also receive other types of coverage as well. Many employers also provide a bundle package that includes the added protection of:
- Traveler’s Health Insurance – for out of country medical coverage
- Identity Theft Insurance/Services – if your credit/personal information is compromised
- Kidnap/Ransom Benefits – insurance pays ransom if kidnapped while on business
- Delayed/Damaged Baggage Coverage – this is a common complaint when traveling!
- Medical Evacuation – to bring you to qualified medical/surgical location
- Evacuating Remains in the event of death while out of the country
Actually, a good business travel accident insurance policy will contain all of those coverages, but some employers choose to purchase them as separate policies. Perhaps this is because they erroneously believe the premiums will cost less. Unfortunately, this is a grave error because good BTA insurance does have these benefits.
Although you can’t protect yourself or your employees from accidents while away on business, especially when on a hazardous job or out of the country, you can purchase business travel accident insurance to compensate for injuries and/or death. Keep in mind that these coverages are only in effect while you, or your employee, are traveling for work related reasons. If you are afraid that claims will be made while the employee is traveling for leisure, have no fear. This will not increase your premiums because no claims will be made under those circumstances. To find the best business travel accident insurance compare quotes from a few providers to get the best coverage at the most reasonable prices.