Self-employed workers are in a unique position when it comes to business travel. Not an incorporated business, not a large corporation – and yet if the purpose of the trip is for business reasons, then a self-employed worker is on a business function trip and not traveling for pleasure. In this case, what happens if valuable equipment is stolen, or the self-employed worker gets sick en route and misses a chance to secure a large project? This is where business travel insurance for the self-employed worker comes in.
Business Travel Insurance for the Self Employed
Most self-employed workers work alone, often from a home-based office or a small rented office. In many cases, any business equipment that might be lost, stolen or damaged on a company trip will be covered by the owner’s home insurance policy. This varies from policy to policy, but before considering a business travel insurance policy with its added cost, read your homeowner’s insurance policy carefully.
In addition, many credit card companies have special trip coverage when you charge portions of the business trip on the credit card. Check those policies and guarantees for fine print, and see if replacement coverage or trip interruption is covered – it saves you the cost of a business travel policy.
Insure and Go for Corporate Trips
When you decide to insure and go on a trip, though, you need to consider all of the risk factors involved. You’re going on a business trip for a specific purpose tied to corporate revenue. You wouldn’t travel otherwise.
Whether you’re going to a trade conference to set up a booth and promote your services or products, attending an educational seminar, or traveling to do a presentation to land a large, lucrative client, each incidence of business travel has a meaning – and losing the ability to complete those actions can have critical business health implications.
Business Travel Coverage
What if your plane is grounded by volcano ash and you’re stuck on another continent for two weeks? What if you become violently ill from food poisoning and can’t give a scheduled presentation? Stolen, lost, or damaged client files can lead to liability issues – if any of these incidents happens on a trip, are you covered?
If not, then business travel coverage is the way to go. Find an inexpensive policy but one that covers replacement or reimbursement value for full peace of mind and fiscal responsibility.