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.
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.
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.
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.
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.
- 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.