Travel insurance vs. expat insurance

travel insurance need

Do you know the differences between travel insurance and expat insurance?

As the summer gets underway travellers are being warned about the importance of buying insurance if they plan on going abroad. According to a survey from The Points Guy, only 21 percent of people buy travel insurance, and of those, only 7 percent purchase it regularly.

So what is travel insurance?

Designed for short trips abroad, a standard plan covers cancellation, personal belongings, and emergency medical treatment. It can bought as a single- or multiple-trip policy and prices vary depending on many factors such as: where you are travelling, additional winter or water sports coverage, your age, pre-existing conditions and so on.

And international insurance?

An international medical insurance plan is designed to cover people who are living and working abroad. It generally includes inpatient treatment, check-ups, and long-term care of chronic conditions. An expat health plan usually allows you to choose where you receive treatment, even transferring you to another country if necessary. You can include extras such as compassionate visits, maternity care, and dental treatment. Expat health plans generally last a minimum of 12 months, though there are some options for people moving abroad for less than a year.

When buying travel insurance

If you’re planning your holiday this year there are a few things to consider when buying travel insurance. First, buy it as soon as you book your trip. That way if you have to cancel due to illness you may be able to recoup some of the money. Secondly, shop around. There are some great comparison sites online to help you find the best quote. Alternatively you can use a broker who will research and find the best policy for you.

A warning

The necessity of travel insurance was highlighted again recently by Brian Hodges’ story. Travelling with friends across the border from California to Mexico for a few short days, none of the group thought about buying travel insurance.

In a horrific zip-line accident Hodges suffered head injuries, a broken neck and trauma to his upper body. His wife used a credit card to pay $50,000 so Hodges could receive treatment. Since being transferred to a hospital in California Brian is improving, and an online fund has been set up to help the family deal with the medical bills, reports