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Factors for determining the cost of your business travel insurance

4/4/2014 6:37:16 PM

Business travel can present a wide variety of hiccups, from delayed flights to running out of gas while driving your airport car rental. For many people, insurance is an unnecessary commodity when on the road, but others find it a huge reassurance to have a little financial backup in case of an incident. If you've decided to buy insurance for your trip, keep in mind these factors that companies use to determine the cost of your plan:

Destination
Where you intend on going makes a huge difference in the price of your plan. You might be surprised to learn that someone who takes a business car rental to a domestic destination might pay more than someone who takes a plane to Europe. That's because the cost of health care generally costs more in the United States than, say, Germany or Britain. Particularly dangerous locales may also mean a higher cost for insurance.

Age and health
Someone in poor health will generally have higher premiums than those who have a good medical history, and the same goes for those who are older compared to younger travelers. Additionally, keep in mind that pre-existing illnesses are often only covered if you encounter a life-threatening situation while on the road, and alcohol- and drug-related conditions may not be eligible for coverage.

 

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