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Volcanic Ash in Bali Sheds Some Light on the Importance of Corporate Travel Insurance

November 28, 2017

Before heading overseas, make sure that both you and your team are prepared to embark on both an enjoyable and safe trip. Having a good insurance policy is crucial, and to ensure you’re not going to be left high and dry, reading the fine print is key.

volcano ash in bali

After the recent eruption of Mount Agung in Bali, a volcanic ash cloud has grounded flights in and out of the island. Many travellers are experiencing insurance restrictions in relation to the increased volcanic activity, which has left them stranded.

 

Employees are arguably a business’s biggest asset, and protecting your company’s assets is one of the most important steps to business success. So, when sending out employees on an overseas trip it’s important to make sure they’re protected.

 

A comprehensive travel insurance policy covers a range of different issues that can occur while travelling including, illness and accidents requiring medical treatment overseas, lost or stolen luggage and personal items, and cancellation of flights due to certain events – like the eruption of Mount Agung.

 

It’s common for people to rely on free insurance offered via their credit card provider, however, this option won’t always give you comprehensive cover. It’s important to remember that most credit card travel insurance isn’t automatic – you’ll need to activate it by spending a specified portion of your travel costs on the same card. However, if you forget to do this then you won’t be covered at all.

 

The great thing about stand-alone travel insurance is that it can be tailored to fit your specific needs, whereas credit card travel cover lacks this flexibility – it’s more of a ‘one size fits all’ case. While the overall cost of credit card travel insurance is easier on your wallet, investing in an annual policy for your business saves time and money as you are covered continuously for multiple trips throughout the year.

 

Investing in a corporate travel plan will help guarantee your employees’ wellbeing, and will provide peace of mind for all parties involved. To learn more about corporate travel insurance and how our packages can be tailored to fit your specific needs, contact the team at Sydney Insurance Brokers today!