INSURANCE

Medical insurance

Relatively few countries provide as comprehensive a health service as the UK, and in some cases only those who have subscribed to it all their lives are eligible. It is therefore essential that you investigate the facilities in your prospective country of residence to see if you need to take out private health insurance.

You can choose between

• international medical insurance from a company based in the UK (eg International Private Healthcare Ltd, Exeter Friendly Society, BUPA, Private Patients Plan).
• a medical insurance scheme in your country of residence (which may work out cheaper).

For a more detailed discussion of medical care please see Chapter 5.

Life assurance

The main advantage of a life assurance policy is that it offers your partner or dependents immediate access to a sum of money on your death. A basic whole life plan is relatively cheap and will offer an immediate cash payment to your partner or dependents on your death. Such policies should not be confused with life assurance plans which are primarily investment vehicles.

It may be sensible in the case of a married couple for both partners to take out such an insurance.

House and contents insurance

It is always advisable to insure your home. If you are buying the property with a mortgage, the lender will doubtless insist on this, and in countries like France it is obligatory. In most cases it will be cheaper to insure in your country of residence, but you should nevertheless shop around for the best deal. If you plan to keep on a property in the UK, see if your insurance company in Britain is prepared to insure your property abroad as well at a reduced rate.

You will need to tell your insurer whether you will be residing in your property on a permanent basis or not. Be prepared for higher premiums, an increase in excess figures and exclusion clauses if:

• the home is left unfurnished for a certain period
• the home is unoccupied for a certain period (typically more than one or two months at a time)
• the home or part of it is let or sublet.

Typical exclusions are:

• theft
• water damage
• accidental breakage of glass
• malicious damage.

The insurers may also make certain stipulations, for example that water, gas and electricity are turned off at the mains and the water system drained off when the place is unoccupied.

Conditions may be less stringent, however, if arrangements have been made for the property to be visited regularly by a neighbour or agent during your absence, or if it is on a managed estate.

Car insurance

If you are travelling to Europe in your own car you will need to obtain a green card from your insurance company, though this will only cover you for a limited period. You should inform your insurers that you are going to live abroad and find out the insurance position.

Normally they will not insure you unless they have an agent in the country concerned. If they do, you may well find that your insurance premium rises because of the higher risk of accidents and theft in certain countries. You may well find that the terms of the insurance differ from the policies that you are used to in the UK, and you should check the details very carefully.