Moving abroad is equal parts scary and exciting. You’ll be starting a new chapter of your life in a new country, and there will be a lot of adjustments for you to make. It’s also one of the most stressful experiences a person can go through – packing up and moving your entire life is by no means an easy feat.
Then, of course, there is everything else that needs to be sorted out. Money needs to be converted and transferred, you’ll need to figure out where you’ll be living and there is usually a whole stack of documents that form part of the process. One thing people often remember at the last minute is their insurance.
Most families have a lot of different types of insurance, and you’ll need to figure out whether you can keep your insurance even if you reside abroad, or whether you’ll have to cancel it and get new insurance once you’ve moved. There are also certain types of insurance you’ll specifically need when going overseas. This can all be quite intimidating, which is why you can read through this handy insurance guide to help you get everything in order.
As the name suggests, travel insurance is vital whenever you’re planning on travelling, so getting a travel insurance plan is a wise thing to do when you’re moving abroad. Things rarely go as planned when it comes to traveling or moving abroad, and that’s where travel insurance comes in. Travel insurance covers any unexpected emergencies that occur whilst travelling, from medical emergencies to cancelled trips to lost luggage. That way, you won’t have to carry the expenses for unforeseen circumstances, and you’ll be able to travel in peace.
You have two main options when it comes to your possessions and moving abroad: you can either leave everything behind and start fresh, or you can bite the bullet and get a shipping container for your possessions. If you decide to go with the second options, shipping insurance is a must. People often avoid shipping their belongings due to the risk of damage, but that’s what shipping insurance is for. The container will have all of your most valuable belongings, and if they are damaged and you don’t have them insured, you’ll have to carry that cost. Shipping insurance protects you against any possible damage, loss or theft of your items while in transit to your new destination.
You’ll likely get a new car, and that car will need to be insured. Many people wait before insuring new items after they’ve moved abroad, because they have so much on their plate, but if you have a car, car insurance is an absolute necessity if you want to protect yourself against possible financial damage.
Often, when moving to a country with a decent medical care system, people decide to skip on health insurance and use the money for something else. But health insurance is vital, especially when you move abroad. Your body might take a while to adjust to new climates and new levels of pollution in the air, and this might make you feel unwell. Opt for health insurance until you’ve settled in and seen what the healthcare system is actually like. Once you’ve experienced it first hand, you can decide whether you want to continue with the health insurance or not
Life insurance is often one of the rare types of insurance that doesn’t need to be moved over to a new insurance company if you move abroad. As long as you keep paying your monthly fee, you should be covered. You should check with your insurer whether this is the case. If you don’t have life insurance, now is a good time to get it, especially if someone depends on you.
While you might live with family or in a hotel while you get settled in, eventually you might want to find a permanent place of your own. Once again, this is one of the most important types of insurance you’ll have to get. Home insurance varies from company to company, so do some research and see which one offers the most at the lowest cost. Depending on your insurer, home insurance generally covers water damage, structural damage, fire damage and theft. You can imagine that you’d need to pay a hefty fee if any of those damages should occur while you’re uninsured.
If you’re planning on moving your animal friend along with you, pet insurance is a great idea. If possible, get it before you even move, since your pet will probably need to see the vet a lot for check-ups, vaccinations and medication. This can be a costly affair, so if you can find an insurer that will cover these costs, it’s definitely worth looking into