Attention Fellow Yachties! Navigating the world is your passion, but unexpected medical bills shouldn’t be part of the adventure. Let’s explore the pros and cons of travel insurance.
Short-Term Gigs, Short-Term Solutions:
Travel insurance: Ideal for new yachties or those on in the industry temporary contracts.
Affordability Advantage:
New yachties: Often starting out, budgets might be tight. Travel insurance offers flexible coverage tailored to specific trips, making it an economical choice compared to the fixed monthly cost of international health insurance.
Short contracts: Since shorter contracts are common for new yachties, you pay only for the specific duration you need, avoiding unnecessary charges for periods without work.
Targeted Coverage:
Flexibility: Unlike broader international health insurance, you can choose travel insurance plans with specific activities or regions in mind. This means you’re not overpaying for coverage you might not use on every trip (e.g., adventure sports coverage while on a relaxing cruise).
Customization: Adapt your travel insurance to your evolving needs. Starting with basic coverage and upgrading for specific contracts with higher-risk activities offers control over your expenses.
Flexibility & Renewals:
Switching Providers: As your career develops and needs change, you have the flexibility to switch to international health insurance.
Limitations to Consider:
Limited Duration: Remember, travel insurance only covers you for the predefined trip dates. If your contract gets unexpectedly extended or a medical issue arises beyond the covered period, you might face out-of-pocket expenses.
Proactive Renewals: Avoid coverage gaps by actively renewing your travel insurance before each contract ends. Missing this could leave you unprotected during transitions.
Disclaimer: This information is for general guidance only. Please consult us for personalized recommendations.
For new yachties with temporary contracts and budget constraints, travel insurance offers a flexible and affordable solution for short-term medical coverage. It allows you to adapt your protection based on your specific needs and avoid unnecessary costs for periods without work. However, remember the limitations in duration and ensure proactive renewals to maintain seamless coverage on your yachting adventures.
Clarity Employee Benefits is an authorized Financial Services Provider – FSP No. 51007. We specialize in international health insurance and travel insurance for yachties, please do not hesitate to contact us if you are in need of health insurance guidance or advice.
