Travel insurance for leisure and business travel is a good idea, but knowing what types of insurance are needed can be tricky. Most health insurance policies cover some services while traveling, but not all health related issues are supported by a normal health policy. There are also many other instances that travel insurance can benefit an employee. Annual travel insurance can be a good investment for companies to make for employees who travel a lot.

Insurance covers not only medical needs, flight delays, lost luggage, flight changes, deaths and more. Assistance with pre-trip services such as booking, passport information, flight access and scheduling are also available with both domestic and international travel insurance. Before securing travel insurance, you should:

1. Subscribe to business and travel industry publications to keep up with the latest happenings.

2. Compare travel health insurance policies, options and companies.

3. Get quotes from the leaders in travel insurance, and find out the latest offerings.

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Keep track of travel insurance news and trends through industry publications

Travel insurance options change regularly with the traveling trends of the leisure and business traveler. If your business is trying to find the best insurance policy options, use industry publications that provide information on business travel to find out what others are saying about the travel insurance industry. From add-onsthat protect seating assignments to reimbursement for emergency accommodations, there are many options available.

I recommend: Get travel insurance information from the Road and Travel Magazine. They provide an overview of business travel options including the benefits of an annual policy to cover employees while overseas or traveling domestically. Travel and Leisure is another good publication with constantly changing information updates on the travel industry including insurance.

Review your trip insurance options and the latest trends

Trends in business travel insurance change as the travel trends change. Sending more employees overseas means changing travel insurance to cover such things as overseas health risks, war zone risks, kidnappings and more. Companies can get help sifting through the options they need by contacting insurance professionals with experience in employee travel coverage.

I recommend: AAA not only offers a good deal of travel insurance information, they can also provide individuals and companies with insurance options. To get instant quotes from hundreds of travel insurance providers, use the Squaremouth travel insurance quote tool for individual trip insurance.

Get advice from the experts in the travelers insurance field

Contact a travel insurance company directly to find out what they can offer you or your employees as a whole. Use references from other companies when choosing insurance organizations with which to work.

I recommend: Get a travel insurance quote from Access America, but also consider reviewing all their information on the latest options in travel coverage. For the frequent business traveler without company-provided insurance, consider working with Travel Insurance Services to find a policy that fits your needs. The World Travel Center is a good resource for complete insurance information and options.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Buy travel insurance using the same strategy you would buying any other type of insurance. Get references to make sure the insurance company is legitimate and ethical.

According to a recent travel insurance company survey, worry about on-the-road medical emergencies ranks No. 1 with business travelers, but surprisingly few are protected by travel medical insurance. Given the unpredictable nature of business travel, requiring emergency medical services while you’re away from home is a real possibility.

To find the best business travel insurance for your needs:

1. Find out what travel insurance coverage you already have.
2. Ask your company or personal insurance agent about business travel insurance.
3. Scout out comprehensive medical evacuation insurance.
4. Get quotes for travel insurance online.

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Find out what business travel insurance coverage you already have

Most company health care plans cap payments for away-from-home emergency medical services at a low amount or do not cover expenses incurred outside the U.S. at all. Some major credit cards offer a range of travel health insurance benefits for on-the-road emergencies.

I recommend: Review your existing personal and business travel insurance coverage, including medical evacuation insurance. Be sure to check out any travel medical insurance coverage available through your major bank card too. Some corporate cards such as the American Express Business Card, Visa Signature and certain MasterCard programs will cover you and/or your employees for medical treatment or emergency evacuation.

Find the business travel insurance coverage that best meets your needs

If you're a road warrior traveling to the far reaches of the globe, your need for a blanket travel insurance policy will be greater than if you make only one or two trips a year. Some travel insurance policies may or may not include medical evacuation insurance to bring a family member to your bedside, to send home your unattended minor children traveling with you, or repatriation of your remains.

I recommend: Review and compare travel insurance and medical evacuation insurance packages at IMT Services, Seven Corners, AIG Travel Guard, Travel Insurance Services, MEDEX, Emergency Assistance Plus, CIGNA and CSA Travel Protection. If you have employees who will travel too, make sure the business travel insurance policy covers them as well.

Find a comprehensive medical evacuation insurance policy

If your travel insurance policy does not include medical evacuation insurance, give serious consideration to independent evacuation coverage on a per-trip or annual membership basis. Corporate discounts are available from some travel insurance companies that provide emergency medical services.

I recommend: Look into medical evacuation insurance available from International SOS (they have their own fleet of state-of-the-art “flying critical care units”), AirMed International, AIG Travel Guard and MedjetAssist. For a comprehensive listing of travel insurance companies that provide medical evacuation services, and for other valuable information for Americans traveling abroad, visit this U.S. Department of State website.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Some corporate and premium credit cards offer referral assistance if you need emergency medical services on the road.
• •  If you are injured or become ill at a distant location, the cost for emergency medical services can be as high as $30,000 to $100,000 depending on your medical condition and geographic difficulties.
• •  Look for a travel insurance company that allows access to patient medical records online.
• •  Many hospitals, clinics and doctors at foreign destinations do not accept credit cards, and most require payment for emergency medical services upfront.
• •  If you have a pre-existing medical condition, be sure to carefully review travel insurance policy restrictions before purchasing travel insurance coverage.
• •  Look for a travel insurance company that offers a 24-hour hotline to help you find doctors, hospitals and medical professionals who will consult with you and the doctor at your travel destination.

If you plan to offer travel insurance to customers, it is important to know as much about your product as possible. Whether you specialize in travel health insurance, international travel insurance, business travel insurance or all types, some official training will benefit your career. Knowing the ins and outs of the business will allow you to offer better customer service to customers and attract more clients. Improve your level of knowledge with travel insurance education and training.

Information about travelers insurance can be difficult to find, so some formal training is best. Note the following options available to travel insurance agents:

1. Attend training seminars that offer tips about trip insurance.
2. Take education insurance courses periodically to stay up-to-date in the industry.
3. Read publications related to travel insurance.
   

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Find seminars that educate agents about worldwide travel insurance

Whether you are a travel agent that sells travel insurance on the side or solely work with travel insurance, seminars and webinars can assist in your training. Both new and experienced agents can benefit from such education.

I recommend: The Travel Institute offers a seminar that teaches how to minimize your risks when selling travel insurance. Seminar Information Service lists seminars with titles like Bad Faith Insurance Claims, in which insurance professionals of all kinds can learn the basics of such claims.

Take continuing education courses about travelers insurance

Most states do not require continuing education for agents selling travel insurance, as it is considered a specialty and only a limited lines license is issued. However, in order to keep updated on the newest rules and regulations in your state, it is advised that you take courses annually no matter what your state's policy might be.

I recommend: The California Department of Insurance offers a course finder for agents that hold a limited lines license and wish to continue their education. An Ethics for Insurance Professionals course is recommended for all travel insurance agents and can be found at ABTrainingCenter.com.

Read literature written by travel insurance providers about the industry

If you don't have enough time to attend courses or seminars, you can still learn by reading about travel insurance online in your spare time. You can find newsletters, online journals, articles, e books and more on the Internet, and you can also obtain such resources at the library.

I recommend: The American Society of Travel Agents offers several publications to those in the travel industry. US Travel Insurance Association offers press releases and educational articles geared towards professionals in the travel insurance industry.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Surrounding yourself with more experienced travel insurance providers is another easy way to learn more about the subject. Whether you talk to a travel agent that happens to sell insurance or a licensed travel insurance agent, you can learn from their experiences in order to offer the best customer service possible.

When business sends you traveling, particularly overseas, having an adequate travel insurance policy guarantees you will have medical coverage outside of your primary health insurance policy. A good travel insurance policy will also protect you against losses if you need to unexpectedly return home in the middle of a trip or if you are forced to evacuate due to a natural disaster. Insurance contracts can be confusing, so knowing the commonly used key terms will help you purchase the right policy for your needs.

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Premium

The premium is the total cost of purchasing a travel insurance plan. Depending on the type of plan, the premium may be paid either in full at the time of purchase or in installments.

I recommend: InsureMyTrip.com allows users to compare premiums for various types of insurance plans.

Exclusions

Exclusions are specific events that are not covered by the insurance policy. They must be clearly outlined in the insurance contract. Exclusions run the gamut from injuries sustained while participating in an extreme sport to cruise cancellations.

I recommend: Read through a list of common exclusions at TripInsuranceStore.com. Additional examples of exclusions can be found at VacationsToGo.com.

Pre-existing conditions

Most insurance policies define pre-existing conditions as a medical condition that was diagnosed prior to obtaining health insurance. Travel insurance policies that exclude pre-existing conditions will not pay a claim for medical attention sought as a result of a pre-diagnosed condition. Insurance policies that do cover pre-existing conditions are available.

I recommend: Read through the various types of pre-existing condition coverage at Good Neighbor Insurance.

Hazardous sports and activities coverage

Those who are planning on participating in high-risk activities during their travels will need hazardous sports and activities coverage added to their travel insurance package. This type of coverage pays claims on injuries or illnesses sustained while taking part in activities such as scuba diving, mountaineering, bungee jumping and snowboarding.

I recommend: Find examples of hazardous sports and activities coverage at the Travel Insurance Center website. Read through the types of sports and activities that are covered at Overseas Travel Insurance Services.

Trip interruption insurance

Trip interruption insurance provides coverage if the traveler must unexpectedly abandon the trip. Coverage ranges from paying for airfare if the traveler must return home to deal with a personal emergency to covering the costs of an emergency evacuation.

I recommend: For examples of trip interruption insurance, visit Total Travel Insurance.

Usual, customary and reasonable charges

Usual, customary and reasonable charges are often abbreviated as UCR charges. Before paying a claim, the travel insurance company compares the rates of medical providers for services rendered. By analyzing the rates, the company determines a base rate for a specific service it will pay out on behalf of the policy holder.

I recommend: To learn more about how UCR charges are calculated, visit the American Academy of Family Physicians website.