Business travel insurance in India: Coverage, costs & how to choose

Business trips don't always go as per the plan. Flights get missed. Laptops get stolen. People end up in hospitals far from home. When that happens, someone pays the bill.

For Indian businesses sending employees across the country or overseas, business travel insurance makes sure that someone is not you or your team. This guide covers what it is, what it includes, and how to find the right policy for your business in India.

Table of Contents
What is business travel insurance? Importance Types of business travel insurances in India Providers in India Factors that influence the cost in India Wise Business: For businesses transacting across borders

What is business travel insurance?

Business travel insurance is a policy that protects employees when they travel for work. It covers financial losses and emergencies that may happen during a business trip.

This may include:

• Medical treatment abroad
• Trip cancellation or delay
• Lost or stolen baggage
• Emergency evacuation
• Accidental death or disability

At first, personal travel insurance and business travel insurance can look the same. Personal travel insurance is for holidays and private travel. It usually does not cover work-related risks.

Business travel insurance is designed for employees travelling for work which may include higher medical limits, cover for work equipment such as laptops, coverage for multiple trips in a year, and employer liability considerations. This matters most for employers as the company has a duty to keep their employees safe during their work-related trips.

Importance of business travel insurance and how it can benefit

Here are a few reasons to have a travel insurance in place:

1. Medical care abroad is costly. Even a short hospital stay in countries like the US or Singapore can cost lakhs of rupees. A strong policy covers treatment, hospital bills, and emergency evacuation, so employees are not forced to pay on their own.
2. Every business trip has a cost: flights, hotels, client time. If a trip is cancelled or cut short, insurance helps recover non-refundable expenses.
3. Employees often travel with laptops, cameras, and important documents. If these are lost, stolen, or damaged, business travel insurance can cover them. Personal travel insurance usually does not protect work equipment.
4. Providing travel insurance showcases employee welfare as the company looks after them when they travel for work.
5. When something goes wrong, a good policy covers the administrative process behind compensations and coverage.

Types of business travel insurance policies in India

Indian insurers offer several formats. The right choice depends on how often your team travels.

Single-trip business travel insurance

This policy covers one business trip from start to finish. It is a good option for companies where travel does not happen often. Many small businesses and startups choose this plan because they do not need a full annual policy.

Annual multi-trip business travel insurance

This policy covers all business trips taken within one year. Each trip usually has a maximum number of days allowed. It works well for sales teams and senior managers who travel often. It can also cost less than buying a new policy for every trip.

Group corporate travel insurance

This policy covers many employees under one plan. The premium depends on the number of travellers and the number of travel days. It reduces paperwork and makes renewals easier. The cost per person is often lower. It suits companies that send teams abroad regularly.

Business travel accident insurance

This policy focuses on accidents that happen during travel. It covers accidental death, permanent disability, and the return of remains to India. Some companies combine it with medical coverage for broader protection. It can serve as a basic layer of cover for any employee who travels.

International business travel insurance

This policy is designed for overseas business trips. It covers medical treatment abroad, emergency evacuation, and sometimes evacuation due to political unrest in high-risk areas. It may also cover work equipment such as laptops. This type of policy is important for employees travelling to countries like the US, UK, or Australia, where medical treatment can be very expensive.

Business travel insurance providers in India

Below are examples of insurers that offer company business travel insurance in India. Businesses should review policy wording before purchase.

1. Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Limited¹ offers structured business travel insurance plans for companies that send employees on domestic and international trips. Their policy runs for a full year and covers all overseas trips, as long as each trip does not exceed 180 days.

Premiums are calculated on a per-day, per-person basis. For overseas travel, Tata AIG’s international travel insurance plans² start at approximately INR 22.5 per day, but for corporate travel portfolios, premiums are custom-quoted based on the number of employees, destinations, travel duration, and coverage limits.

Key features may include:

• Annual multi-trip options
• Coverage for overseas medical expenses
• Emergency evacuation and repatriation
• Trip delay and cancellation cover
• Loss of passport and baggage cover
• Worldwide assistance services
• Business Travel Accident policy options

This policy is suitable for companies that need general business travel coverage under a structured annual policy.

2. Bajaj General Insurance

Bajaj General Insurance offers travel insurance plans suited to small businesses and frequent travellers. They have a presence in nearly 1,500 towns and cities across India, making them accessible for businesses outside major metros.

Premiums for corporate travel coverage are not publicly listed and must be custom requested based on factors such as the number of employees covered, destinations, trip duration, and the level of coverage required.

Key features may include³:

• Medical expenses abroad
• Trip cancellations
• Ticket overbooking
• Baggage and passport loss
• Emergency cash benefit
• Personal liability

This may be a good fit for small businesses looking for flexible, affordable coverage without complex onboarding.

3. HDFC ERGO General Insurance

HDFC ERGO offers group and international travel insurance that can be used for business and official travel to protect employees while they are abroad or travelling for work.

Their international travel insurance plans for overseas trips are available online from around INR 31 per day⁴ for basic coverage, but if you would like to know the premiums for corporate travel insurance, request a custom quote and fill in your business needs, including number of employees, destinations, and trip durations.

What it covers⁵:

• International and annual multi-trip business travel coverage
• Accidental death and permanent disability cover
• Emergency medical expenses abroad
• Emergency medical evacuation and repatriation
• Trip interruption and return travel benefits
• Baggage delay and loss cover

This may be a good fit for companies that want to prioritise employee welfare as part of their travel policy.

Factors that influence the cost of business travel insurance in India

Premiums vary across insurers. The following factors often affect pricing:

Number of travellers

• More employees increase the total premium.
• Group policies may reduce the cost per person.

Destinations

• Travel to high-risk or high-cost medical regions increases premiums.
• Trips to countries like the US usually cost more than travel within Asia.

Duration of trips

• Longer trips increase the level of risk.
• Annual multi-trip policies may have a higher upfront cost.

Level of coverage

• Higher medical limits lead to higher premiums.
• Adding benefits such as work equipment cover increases cost.

Company’s claims history

• Frequent claims may raise renewal premiums.

For accurate pricing, companies should request quotes directly from insurers or compare plans through a broker.

Wise Business: For businesses transacting across borders

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Sources:

1. Tata AIG General Insurance Company Limited
2. Tata AIG cost
3. Bajaj general features
4. HDFC ERGO cost
5. HDFC ERGO features