Insurance for Travel Agents and Tour Operators

Insurance for Travel Agents and Tour Operator

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Why do Travel Agents and Tour Operators need Business Insurance?

Your clients seek out your expert advice and knowledge when it comes to all things travel. They trust your guidance and plans when it comes to creating their dream holiday, something which you pride your business on. But the reality is, life is full of challenges and even if you have years of experience and take all the care in the world to deliver your clients the best service, things can still go off the itinerary. It’s a risk and worry that you can do without. Thankfully, Business Insurance is there to provide the well-earned protection your business deserves and peace of mind.

Sorting out your clients’ travel plans is fun, and so is sorting out your business insurance. Get quotes online in minutes from selected leading New Zealand insurers, making your business fly without worries.

Did you Know?

When declaring your revenue you should declare your earnings and not gross ticket prices.

Professional Indemnity Insurance

Giving specialised advice and delivering tailored travel services is all in a days work as a travel industry professional. There’s so much involved when it comes to sorting out the right trip and travel experience for your clients, that it’s easy for mistakes to happen no matter how careful you may be. This is where Professional Indemnity insurance comes into play.

Professional Indemnity (PI) insurance is an important form of protection for businesses that provide specialist services or professional advice. It is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.

What is typically covered?

  • Damages and claimant costs awarded against the insured
  • Legal and defence costs
  • Claims investigation costs
  • Inquiry attendance costs
  • Public relations costs

What is typically NOT covered?

  • Intentional damage
  • Known claims and circumstances
  • Fraud and dishonesty
  • Bodily injury / property damage

These are some examples of when Professional Indemnity insurance can help provide your travel agent or tour operator business some much needed support and may be required:

  • Accidentally miscalculating the cost of a trip plan for a client
  • A claim of negligence by your client for professional advice or services you have provided
  • If you want to become a member of certain industry body or boards, Professional Indemnity insurance may be a requirement
  • If you work on contracts you may be required to have your own Professional Indemnity insurance in place

Protect your business today.

Public Liability insurance*

Interacting with clients, suppliers and members of the public means there is a real risk for accidents and unforeseen challenges to occur. This is a drama no travel industry professional wants to worry about and is fortunately something which Public Liability can provide a safeguard for.

Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured (and not covered by the Accident Compensation Commission (ACC) ) or sustain property damage as a result of your negligent business activities.

What is typically covered?

  • Compensation for accidental damage to third party property
  • Compensation for personal injury or death to third parties where the ACC does not provide cover
  • Legal and defence costs

What is typically NOT covered?

  • Injury to your employees
  • Damage to your own property
  • Compensation for personal injury whereby cover is provided by the ACC
  • Known claims and circumstances

Business Insurance*

While your clients are essential to your travel agency or tour operating business, have a think about the other elements that go into keeping your business running. There are things like your actual business premises (if you own it), your office furniture and equipment, and your vital travel sales tools like your phone, tablet, laptop etc.

Being without them would make it next to impossible to stay in operation, and that’s why it is important to have the right kind of business insurances in place to protect your business assets.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance policy can also cover your portable equipment, and loss of revenue due to business interruption in specified circumstances.

These are some of the typical types of business insurance coverages you may need to consider when it comes to protecting your travel business.

Building*– Covers you for loss and damage to buildings you own, as a result of an insured event, e.g., fire, malicious damage.

Contents*-Cover for loss of or damage to items such as business equipment, stock, plant and machinery, records, fixtures and fittings and furniture belonging to you at the insured location.

Business Interruption*– Business interruption insurance provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It is also designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).

Portable Equipment cover*– Covers you for loss and damage to your tools and equipment due to theft, fire and other perils listed in the wording, anywhere in New Zealand.

Get more information

Learn more about all things business insurance and business related with our library of blog articles. We cover a broad range of topics from learning how to increase sales to understanding the nitty gritty of Public Liability insurance. We’ve got your next coffee break sorted with these intriguing reads:

Complete guide to business insurance

If you’ve ever been curious about business insurance and the different kinds of cover, then this is the article for you. We cover the ins and outs on some of the typical kinds of business insurance and how they can help protect your business.

* This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

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Need Help?

Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals. 

You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents. 

 

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