Emergency travel insurance
for "far-flungers"
Kinsure is a new insurance product designed for the ever-expanding market of people who have family and friends living in a different country from them. Thought to be the first insurance product of its kind, Kinsure offers the policy holder cover for emergency travel back to their friends and family living in a different country should they suffer an accident or illness, or pass away.
The new policies are available online. Premiums start from only £29.95 a year and can be extended to cover not only "close relatives" – which includes immediate family, step family and ex-spouses* – but also any "additional persons" that you choose to add on to the policy – distant relations, close friends and business associates. Emergency transfer and travel costs of up to £5,000 are covered.
Far-flung family and friends are becoming a common feature in today’s society. People are living more peripatetic lives, moving thousands of miles away from where they were brought up for new jobs or just to make a fresh start – the "far-flungers".
A recent survey** showed a staggering 75% of the respondents had family living abroad and over half (52.1%) had not considered what would happen should they fall ill or have a serious or fatal accident. 48.6% did admit that cost may be a really serious issue should this eventuality arise.
In 2006 alone more than 365,000 Britons moved overseas, bringing the total number of Britons living abroad to more than 5.5 million.*** This equates to one in ten of the UK population, and predictions suggest that another one million Britons will move abroad over the next five years.
Kinsure aims to alleviate some of the stress during these difficult times by providing a 24-hour call centre, 365 days a year, so that policy holders can contact them at any time. This customer care centre will make all the arrangements for flights and accommodation, so the policy holder does not have to deal with any of these arrangements and payments.
Kinsure is the brainchild of Jeremy Coll, who set up the company following a family emergency of his own. Jeremy’s parents-in-law have lived in Spain for over 15 years and in July 2005 his father-in-law had a severe car accident and was hospitalised for 10 days. Jeremy and his wife Claire flew over from the UK immediately and booked into the nearest hotel to the hospital which was in Málaga (approximately 70km from where his parents-in-law lived). Fortunately everything turned out to be fine but the problems of finding flights and accommodation and the unexpected cost of over £1,000 started the ball rolling for Jeremy to set up Kinsure.
The policies are relevant to a worldwide audience, but Kinsure is focusing on the UK market for the launch.
"There are a number of insurance policies which flirt with the 'far-flung' market, but from our research none of these delivers such a specialist and comprehensive cover and service as Kinsure," says Jeremy.
"People often don’t realise that they are not covered for the type of circumstances which Kinsure is geared up to deliver cover for. They wrongly assume that private medical insurance and travel policies are adequate," Jeremy warns.
Here are a few examples:
1. Expatriates living abroad
The majority of expatriates living abroad (unless required by the laws of their country of residence to take out private medical insurance) either rely upon the local medical network or pay for their treatment direct as and when the need arises. Neither of these offers any cover for potential personal emergencies at home or abroad.
2. Businesses with a widely dispersed workforce
If the company provides employees with private medical insurance (PMI) there are only a few insurers that offer cover to extend to compassionate emergency return. This will cover for the insured to return to their country of residence if a "close relative" has a serious accident or illness or passes away. In addition, this will rarely extend to the spouse or partner. Therefore for the majority this leaves the employee (or in some cases the company) with the hassle of arranging the travel and accommodation and the costs.
On the other hand, if the insured or one of their family has a serious accident or illness or passes away, there are no insurers that offer cover for “close relatives” to go to them. If the close relatives purchase a Kinsure policy, cover is applicable.
3. "Gap year" travellers working for a stint overseas or on a volunteering holiday
Most travel insurance policies include cover for repatriation in the event of an emergency. But few offer cover which will enable the insured to return to the destination and continue their travels afterwards.
If an emergency happens to the traveller there is limited (normally one-person) cover for a "close relative" to go to them.
*Kinsure believes it is one of very few insurance companies to recognise an ex-spouse as part of the immediate family group. National statistics show that in 2006 12.2 people per 1,000 married population divorced.
**Online survey of 250 people conducted through Survey Monkey
***Figures from the Institute for Public Policy Research
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