Insuring your life in the USA
As you are buying in the USA to enjoy a better quality of life, it’s important that you take the necessary steps to protect your health, and your belongings.
Your first step should be to research the area that you’re considering buying in to learn more about potential risks, i.e. are you in an earthquake zone? Does the area flood? How high are crime rates in the State? Are there any dangerous animals known to live in the area? This research will give you a deeper understanding of the area that could become home, and will help you establish what insurance brackets you’re likely to fall into.
When deciding on insurers, you need to establish who best caters to your individual needs.
Finding the right insurance package
When deciding on insurers, you need to establish who best caters to your individual needs. It pays to be insured from the day that you arrive in the US, especially in terms of healthcare, as you never know what could happen. This is why, where possible, we recommend arranging insurance policies whilst still in the UK. If you’re planning a permanent move, it makes sense to seek US insurers. Similarly, if you only plan on spending short periods in the USA, UK insurers are your best bet.
What kind of insurance do I need?
1. Healthcare
You need to take out private health insurance to cover you as healthcare is not free in the USA, and if something should happen, it could end up costing you a small fortune for even the most basic care. If you are relocating permanently, there are a number of policies available specifically for expats offered in the US.
Make sure you home is covered for whatever you may use it for.
2. Car insurance
In order to be able to legally operate a vehicle in the US, you must be insured. If you’re hiring a car the hire company will cover this. If you have your own vehicle, you will have to arrange your own policy. Shop around to secure the best deal for you.
If you’re planning on renting out your property, your home insurance needs to reflect these plans.
3. Home insurance
If you’re planning on renting out your property, your home insurance needs to reflect these plans. If the property is going to be a second-home, and you are going to remain in the UK, it makes more sense to seek a policy with a UK-based insurer that specialises in holiday homes, because you will be able to pay for the policy in sterling from your UK account, thus avoiding any costs associated with international currency transfers. If you’re letting out a property through a property management company, you’ll find it’s common practice for them to take a security deposit from guests to cover accidental damage.
To get a free quote from a leading UK-based holiday home insurance firm, contact the USA Property Guide team today on 020 7898 0549.
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