Expat Information To Brits Either Moving Abroad or Returning Home
Moving abroad to live either permanently or temporarily on a contractual basis for your company is a daunting task and is taxing to anyone with even the best organisational skills. Therefore, we’ve tried to simplify things for you by explaining the do’s and don’ts so that you can formulate your own checklist to whatever is applicable to you.
With the help of a professional insurance broker, individuals can tailor their insurance policy to cover all of the potential risks they are exposed to when living abroad.
The insurance industry is always there as a safety net to meet the ever changing global demands. Too often insurance is deemed to be an additional unnecessary expense and this is where the danger occurs, because not buying the correct insurance can result in individuals being caught out when they are hit by a major loss, being either underinsured or worse still uninsured.
Establishing a safety net of three to six months’ worth of cash reserves, adequately insuring your home and property, your health and your income and remaining very aware of potential dangers goes a long way toward ensuring that you and your family won’t be financially devastated if disaster strikes.
From a general and a commercial aspect, what will you leave behind when you move abroad?
RESIDENTIAL PROPERTY OWNERS
If you decide to rent out your property, you must ensure you take out a RESIDENTIAL PROPERTY OWNERS policy, for the correct criteria, ie:-Renting to Professional people/DSS/Asylum Seekers etc. Contact us if you require any advice
Alternatively, if your property is left either empty or up for sale, you must contact your present insurers and advise them accordingly, or alternatively take out new cover for the correct criteria, ”UNOCCUPIED” or ‘UNOCCUPIED PENDING SALE.’ Basic perils including Fire Lightening Earthquake Aircraft cover can be offered, or “extended” perils offering wider cover, ie; the perils of windstorm, hail, explosion, civil commotion, riot etc.
COMMERCIAL PROPERTY OWNERS
If you are a LANDLORD with properties still in the UK, cover can be arranged to protect your assets and this will give you peace of mind as follows:
Residential & Commercial Property Owners is an insurance product designed to satisfy the insurance requirements of different types of residential landlords whilst you are out of the country, including:
- Private individuals who have “buy to let” properties
Arrange expat property and landlord insurance and you’ll be covered for:
- Essential core covers for Buildings (including Subsidence), Contents of Communal Areas, Loss of Rent, Money and Property Owners’ Liability
- A comprehensive range of optional covers including Employers’ Liability, Legal Expenses and Landlords Contents.
- Provide practical guidance on how to reduce the likelihood of having to make a claim. You can ask questions about compliance with health and safety regulations, security measures and other topics of specific relevance to property owners
- A comprehensive claims service providing you with emergency assistance whenever it is required
- Unoccupied Property Insurance/Unoccupied Pending Sale
MARINE CARGO INSURANCE
