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Expatriates have been advised to search for the right insurance cover so they don’t end up paying over the odds.
According to financial advisers Shelter Offshore, Britons moving abroad often forget to take out insurance and leave it to the last minute.
Rushing to buy insurance can leave expatriates with premiums that are significantly higher than they need be, the company noted.
"The vast majority of expats are not only spending more than they need to on insurance, but that they don’t even necessarily have the right type," says the firm.
It also recommends finding a policy that can be paid off in full up front – to save on monthly premiums – and offers a reasonable excess.
International health insurance is equally important for expatriates as not all destination countries offer the high standard of medical care we expect in the UK.
Moving abroad? Get a free quote for your international medical insurance online.
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Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.