Global Expatriate Renters & Living Insurance
While international relocation can be an exciting opportunity, it can also present the relocating individual or family with concerns and hesitations. After all, the employee being relocated will be living in a new country and will be tasked with not only the transition of their family but also the adjustment of adapting to the new culture of their co-workers and surroundings.
At UNIRISC, our global expatriate insurance can help relieve some of the stress for employees on international assignment, regardless of whether the transferee is renting (temporary) or living (permanent). Our global programs cover household goods in transit as well as their possessions left in storage at any location worldwide. Not only that, but with our expat relocation services, personal property and personal liability is covered at their new location as well.
Our expatriate renters and living insurance programs covers not only “Tangible Property” but also “Personal Liability” exposures automatically. The program also has a provision for “Political Risk”, an issue in countries where instability is a concern, providing transferees with both security and peace of mind while on assignment.
Components of the expatriate insurance program include:
Personal Property
Global coverage for property in residence, while on assignment, business trips and vacations. Coverage is “All Risks” and includes “Theft” as well as “Mysterious Disappearance”. Additionally, there are no exclusions for items such as “Antiques”, “Fine Art” or “Paintings”. All property is insured for replacement cost.
Jewelry & Valuable Articles
Items insured under this heading include, furs, cameras, silverware, golf equipment with jewelry and fine arts covered on an “Agreed Value” basis. Coverage is also automatic in respect of newly acquired items for the first 60 days provided property is already insured under this section. Please note that it is common practice to hand carry jewelry as it is excluded from coverage while in the care, custody or control of the moving company.
Political Risk
This coverage is highly recommended in today’s turbulent political environment and insures “Personal Property” and “Valuable Items” against the additional perils of “War”, “Insurrection”, “Unlawful Expropriation”, “Sabotage” and “Terrorism”.
Personal Liability
Protects expatriate and their families from damaging lawsuits resulting from “Unintentional Bodily Injury”, “Personal Injury”, or “Property Damage”. Automatic cover while in “Home Country on Business”, “Home Leave” is included. “Defense Costs” and “Third Party Medical Payments” are automatically included.
Personal Excess Liability
This coverage applies for “Personal”, “Auto” and “Watercraft” exposures. Limits up to $5,000,000 are available with cover on a global basis after all primary “Liability Limits” are exhausted. It includes “Defense Costs” from dollar one; where local statutes prohibit the insurer from defending the insured the carrier will reimburse them for such expenses.
*This program can also be packaged with our International Household Goods Moving Insurance to create a comprehensive International Package Program.
Arrange for expatriate renters or living insurance coverage for your employees before they depart on an international relocation. This can provide your workers with peace-of-mind knowing that they have a policy that protects them worldwide. Also, it removes roadblocks and confusion for employees trying to find a policy in a foreign country (which may be in a foreign language or contain terms & conditions that they are unfamiliar with).