Expatriate Insurance Explained

Expatriate insurance is a type of insurance that is purchased by individuals who are planning on moving to and living in a foreign country for an extended period of time. Expatriate insurance can cover a variety of different risks including medical and personal property. Before moving to a foreign country, it is important to look into purchasing expatriate insurance.

Basics of the Insurance

This type of insurance coverage is designed to cover you while you are living in a foreign country. In most cases, this type of insurance should be purchased before you leave on your trip. Most expatriate insurance companies are located in the United States but they do business and other countries as well. This way, you will be able to handle everything in your native currency and in your native language.

Medical Coverage

One of the most common types of expatriate insurance that is purchased is medical coverage. Most individuals do not have health insurance plans that will cover medical care in other countries. You need to purchase an additional insurance policy to make sure that any medical care that you need will be covered once you are in another country. Many of the medical facilities in other countries vary greatly from the medical facilities in the United States. Because of this, you need to get a policy that will help you get the best care that is available in the area.

Property Insurance

You may also need to purchase a property insurance policy when moving to another country. If you plan on buying real estate, you will need to purchase a homeowner's insurance policy. Regardless of what your living situation is, you will need to consider purchasing a personal property insurance policy. This type of insurance policy will cover any damage to your valuables while you are away.

Depending on what type of activities you will be engaging in, you may need to make sure that you are not held liable for any accidents involving other people. This way, you will not have to deal with a lawsuit while you are in another country.

Other Forms of Insurance

When you are moving to another country, there are several other types of insurance coverage that you may want to consider that are not regularly purchased in the United States. For example, you might need to purchase war and terrorism insurance. This type of coverage will pay for any damages to your property, or costs, that are incurred as the result of war or terrorism. You may also want to consider purchasing a kidnap and ransom insurance because a few countries have a higher frequency of kidnappings. You should also consider purchasing an emergency evacuation insurance in case you have to move out because of a natural disaster. It is always best to remain safe and keep you and your family protected in cases of emergencies.