Expat Insurance Services
Even for those living in their home countries, there are several day to day insurance concerns that must be met, such as having health and car insurance. For expats this is even more necessary, as falling ill abroad or even dealing with a theft can have more serious consequences if you are not a local.
The most basic and necessary insurance an expat must have is health insurance. Most governments overseas do not make any provisions to cover any health expenses of foreign workers or travellers, even if residents and citizens are fully covered. In many countries, not taking out private health insurance in advance of an illness can mean extremely high fees, long waiting times, and insufficient care. In many countries, you may even be refused treatment if you do not have proof of sufficient funds in advance! Even if you are simply passing through a country, you should have quality travel insurance on hand to be prepared for an unexpected illness or accident.
For those who have moved abroad with their families, an international life insurance policy is equally important. Many expats do not realize once they leave their home country most existing life insurance policies are void. Term life insurance is helpful in these situations, ensuring you do not have to leave your family unprotected during the period you are living abroad.
Other important insurance considerations expats will need to think about are home and property insurance as well as car insurance. Whether or not you own the property you are staying in abroad, it is important to have your valuable possessions insured in the case of damage or theft. Although no one wants to think about their cherished items being harmed, it is possible, and if you are living abroad at the time it could be a major inconvenience without insurance. In many countries, having car insurance is mandatory by law. However, even if it isn’t mandatory, it should be a necessity on every expat’s checklist if he or she is planning to drive. Should you accidently cause damage to another’s vehicle or person, without insurance you could risk tens of thousands in settlement fees.
Although insurance isn’t often considered unless as an afterthought by expats moving abroad, the repercussions of not taking out sufficient insurance are far reaching. ExpatFinder.com provides a list of the top insurance companies in all segments of the expat market in one place so expats can receive free instant quotes and request more information before making a decision.