Travel agents are skilled individuals that work in the tourism industry and help
their clients find great deals and services for business trips and family vacations,
including services like hotel reservations, car rentals, airplane tickets, and a
variety of vacation packages. As a travel agent, you also have some risks that put
you in danger of financial struggle or litigations should something go wrong. Since
many of these occurrences are accidents and therefore unforeseen, it is important
to be protected beforehand with travel agents insurance.
Types of Travel Agents Insurance
Travel agents and their associated business have a variety of options when searching
for the best insurance policies for security and protection. These insurance policies
offer coverage for litigations, liabilities, and a number of other risks that can
arise when you least expect it.
Travel Agents General Liability Insurance
If you run your travel agent business out of an office, you need general liability
insurance for travel agents to cover the host of problems that can arise and lead
to lawsuits. For instance, if a client comes into your office and hurts himself
on faulty office furniture, you can get sued for the damages. Having general liability
insurance will protect your business and financial assets if an accident occurs
in your office. Aside from that, there might be a problem with the services you
have provided a client, such as miscommunication in your travel agents advertisement
that the client was unaware of, and that eventually leads them to suffer from it.
Issues arising in regards to the travel services you provide that lead to litigation
will be protected by general liability insurance.
Travel Agents Business Owners Policy (BOP)
A business owners policy, commonly referred to as a BOP, is an essential insurance
policy for travel agents that provides coverage for a multitude of risks. In the
case of an accident, extreme weather conditions, or natural disaster, your business
office may suffer a great deal of damage such as to your office structure, electronic
equipment, or furniture. All of this is covered by the business owners policy along
with your important paperwork and documents, and files you may have lost from your
computer. It also provides coverage to your financial assets as you might experience
a loss in business while repairs are made to your office, and therefore are unable
to continue to work for a certain period of time.
Travel Agents Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance,
is crucial insurance for travel agents to have in their arsenal. No matter how diligent
you are in your profession, mistakes happen during business. If you have made an
error while planning for your client’s vacation or business trip, it may cause the
client emotional or financial harm and then could sue your business for the damages.
Professional liability insurance protects your travel agency from such claims.
Travel Agents Commercial Auto Insurance
If you use a vehicle for business purposes, such as picking up supplies for your
office, or dropping off important vacation documents to your client’s office, you
will need commercial auto insurance. Commercial auto insurance offers protection
to you or your employees who drives the business vehicle for errands related to
your travel agency in the case of an accident during these business-related trips,
as well as protecting the vehicle in the case of damages, theft, or other issues
that may arise.
Travel Agents Workers’ Compensation
Worker’s compensation insurance is required by law for any type of business, including
travel agencies. If your travel agent business has at least one employee, they will
need to be covered by workers compensation in the case of an occupational illness
or injury. If your employee is injured while on the job, such as from a file cabinet
falling over and causing them bodily harm while they file paperwork for a client,
their medical treatment and hospital stay will be covered by worker’s compensation
insurance.
Travel agents insurance offers protection for a multitude of issues that can arise
during business, including accidents, errors in business practices, and damage from
natural disasters. Many unforeseen events occur during the course of business, and
if you are properly covered with insurance, you will offer your business the protection
it needs.
