Why Group Travel Insurance is Essential for Your Team Offsite
Why Group Travel Insurance is Essential for Your Team Offsite
Sara Iannacone · 10/4/2023
When planning a team offsite, it's important to consider all of the components that go into making a successful and enjoyable experience. One thing that we see is overlooked most often? Group travel insurance. So today, we’re sharing all the things you should know to protect your investment and your team while on the road.
Organizing a successful team offsite is no easy feat—there are countless logistical elements that need to be considered, from managing transportation costs and finding accommodations to catering meals and planning activities. To ensure your event goes as planned, one key component should not be overlooked: group travel insurance. It will not only save you money if something goes wrong during the trip, but it can also provide added peace of mind while on unfamiliar terrain.
After helping hundreds of teams plan their company retreats and offsites, we’re going to share why group travel insurance is an essential part of any successful team offsite and what to consider!
What’s included in standard group travel insurance coverage
So, why do you even need group travel insurance? It comes down to ensuring that in the case not everything goes to plan, you’ll be able to protect your team and your assets. These are a handful of things that are traditionally covered by group travel insurance:
Trip cancellation
This coverage reimburses pre-paid, non-refundable trip expenses if the trip is canceled before departure due to covered reasons such as illness, injury, or certain unforeseen events (e.g., a death in the family). COVID caused a lot of teams to cancel offsites unexpectedly. It goes to show you can never predict the future, and you want to protect your company’s investments!
Trip interruption
If a covered event forces the trip to be interrupted after departure, this coverage helps reimburse the unused portion of the trip and additional expenses incurred to return home.
Travel delay
Provides coverage for additional expenses incurred due to travel delays caused by covered events like bad weather, natural disasters, or transportation disruptions. This is huge if half your team misses day one, but you still have to pay for them due to minimums!
Emergency medical expenses
You never know what will happen to your team while traveling. In the case your team incurs medical expenses like doctor visits, hospital stays, prescription medications, and emergency medical transportation, they’ll appreciate having extra coverage.
Baggage and personal belongings
Reimburses travelers for lost, stolen, or damaged baggage and personal items during the trip. There may be sub-limits for specific types of items. However, this is one of the most important things since your team will inevitably be traveling with company-issued technology.
Baggage delay
Provides coverage for essential items and clothing if checked baggage is delayed for a specified period.
Travel assistance
Typically includes 24/7 access to assistance services, such as emergency travel assistance, medical referrals, legal assistance, and help with lost travel documents like passports or visas. This is huge because it means your on-site planner won’t have to troubleshoot everything alone if anything goes wrong
Coverage for adventure activities
Depending on the policy, it may cover specific adventure activities like hiking, skiing, or water sports. This can be important for offsite activities that involve adventures or sports.
Benefits of having a group travel insurance policy
Now, what are the benefits of having this coverage and covering the entire team versus individuals? Here are a few of the top reasons:
Comprehensive coverage
With group policies, you can enjoy comprehensive coverage that includes trip cancellations, medical emergencies, baggage loss or delay, and more. This ensures your employees are safeguarded from unexpected situations during the offsite—and in turn, your organization is protected as well. This is especially true if company-owned equipment is lost on the road.
Streamlined administration
Managing a single group policy is a breeze compared to juggling numerous individual policies. Streamlined policies like this also ensure quick and hassle-free claim settlements in worst-case scenarios.
Cost savings
Group travel insurance policies often come with cost savings compared to individual policies. And, in the case of emergencies, cancellations, etc., you’ll be able to recover investments rather than count them as losses.
Tailored solutions
Customize your group policy to cater to the unique needs of your organization. Adventure activities, specific sports, or relevant destinations can be covered to ensure a perfect fit for your offsite.
Boost employee engagement
Showing your team that their well-being matters speaks volumes about your organization. Offering group travel insurance can elevate morale and satisfaction, fostering a vibrant company culture.
Emergency assistance
Group policies often come with 24/7 emergency assistance services. This can be crucial when team members are traveling in unfamiliar locations and need help with medical emergencies, lost passports, or other unforeseen issues.
At the end of the day, it’s about protecting your people and your investments.
How to choose the right group travel insurance policy for your team
So, now that you know why it’s necessary and what the benefits are, how do you choose which policy is right for you?
The key is asking the right questions. Here are a few to consider:
What activities are you participating in?
If you’re participating in adventure activities like horseback riding or ATV riding, make sure you have injury coverage for activities of those kinds.
What level of customer support do you require?
Do you need 24/7 travel support? Do you need claims support? If so, ensure that the company you go with offers what you need.
What are the coverage limits for each type of insurance you’re considering (e.g., medical expenses, trip cancellation)?
Before diving into insurance coverage, take a moment to jot down what you want to be protected against. We highly suggest reaching out to your company's legal advisors to make sure all your bases are covered. Once that's done, examine whether your current policies provide sufficient coverage. Making informed decisions about insurance is key, and we're here to help you navigate through it all.
What is the process for claims submission?
Can team members submit their own claims, or does there need to be an account manager?
You want to make sure it’s as simple as possible to manage claims so you’re actually reaping the benefits of your coverage, not wasting more resources.
Does it include liability coverage in addition to standard coverage?
If a team member causes an incident while on the road, you want to make sure your company isn’t liable.
Are you hosting multiple offsites this year?
If so, you may want to consider a multi-trip policy for extra savings.
Want support planning your team offsite and selecting the right travel insurance?
BoomPop has cultivated relationships with vendors that make our clients’ lives easier and protect their investments. This includes partnering with a travel insurance company, Yonder. We can add Yonder insurance and management to your event, helping you compare travel policies, select the right one for your team, and in the event you need to make a claim, help you through the entire process.
Our support doesn’t end with planning your team offsite. We ensure that everything goes to plan—and if it doesn’t, we’re here to support with partners and our dedicated team. Let’s chat about your upcoming company retreat and how we can help!
