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| Expatriate Insurance: Why It's Important To Be Covered |
Expatriate Insurance is a policy that covers you when you are working or temporarily living away from your usual country of residence, and covers a wide range of possible eventualities to ensure that should an event such as theft, injury or a medical emergency occur you are fully covered.
Expatriate Insurance is a type of Travel Insurance, it usually covers the length of your stay and can be purchased on a six month or annual basis.
Some of the common policies are:
Automobile Insurance
Whilst you will be required to hold an insurance policy for any vehicle that you own or hire in another country, and will be subject to the local policy terms and conditions, negotiating the purchase of such a policy through your local country may see your No Claims Bonus and associated policy holder benefits transferred to your new country meaning a substantial saving in the premiums. This is especially beneficial if you are going to be away for an extended period or will have more than one vehicle covered.
Personal Property
Essential for all expatriates, personal property covers you for any kind of loss of your personal belongings whilst out of the country. Even if you are working and living in a safe environment loss can still occur, just as it does at home - despite our best intentions and efforts, and it's important to make sure that your insurance covers you so that you are not disadvanataged whilst away from home.
Expatriate insurance policies are designed to cover financial and other losses incurred by expatriates while living and working in a country other than one's own.
You should purchase your Travel Insurance in New Zealand prior to relocating to a new country or destination and your insurance company will be able to advise you of any instances where you might not be covered or exceptions to the usual protection you would expect from a travel insurance policy.
New Zealand is a very safe place to live, work, and travel however if you are going to be working in a country with a volatile political environment such as Africa or even Fiji, it's important to consider cover for yourself such as emergency evacuation, war and terrorism, kidnap and ransom.
If you travelling to safer countries such as Britain, Australia, or America you should consider medical and dental cover to ensure you do not end up in a situation where you are unable to seek medical assistance due to lack of insurance.