- Not purchasing enough coverage
Many countries require visitors to purchase business travel insurance before entering the border. Of course, the type of business travel insurance that is required is often the most basic type of coverage available. The problem is that when disaster strikes, bare bones coverage is often not enough. Exclusions and low limits on coverage can make a big difference when it comes time for you to collect money from a claim. Be sure to look at the exemptions before you sign up. If you plan on doing any dangerous sports or riding a motorcycle while you’re away, let your insurance company know and purchase a rider that will cover your risk.
Many travelers neglect to think about business travel insurance until the day of the trip. By then, it’s often too late to nail down a plan. Luckily, there are many business travel insurance companies out there who are willing to issue coverage to travelers who have already arrived at their destinations. When it comes to travel insurance, the old adage rings true: better late than never. If you catch a disease or get into an accident, you don’t want to be the one left holding the bag. Assistance from a travel insurance company can save the day.
- Drinking too much
Many travel insurance policies have clauses that allow a business travel insurance company to deny a claim if there is enough evidence to suggest that the traveler was drinking at the time of the accident. The loophole makes sense. After all, drinking in a foreign land is a risky proposition. You could get lost. Or, criminals could target you and steal your belongings. If you are going to drink while abroad, do it from the safety of a hotel room.
- Lying during the application process
If you have pre-existing medical conditions, tell your business travel insurance company and get a rider attached to your travel insurance plan. Otherwise, if something happens related to your condition and you end up in the hospital, you’ll have to pay for everything out-of-pocket. Adding a rider to your insurance plan will drive up your travel insurance cost up a bit, but being honest could save you a ton of money if your medical condition gets worse while you are away.
- Opting to not get travel insurance at all
The worst thing that you can do is decide to not get business travel insurance at all. Yet, thousands of travelers willingly go abroad unprotected. Even a small amount of coverage can make a big difference if things don’t go your way while you’re on vacation. Remember: the health care plan that you got through your employer probably won’t work when visiting a foreign land.