Is there an insurance to cover care home costs?

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When traveling, taking out travel insurance guarantees us a series of coverage which, depending on the type of policy, may include medical assistance and hospitalization for illness and accident, repatriation or reimbursement for cancellation or loss of luggage, among others.

Some people may think that insurance is not a compulsory procedure when organizing a trip. However, this is not the case. There are countries that require travel insurance with medical assistance and repatriation coverage in order to be able to enter their territory. In addition, each state or group of states imposes a series of conditions on these policies.

In general, the Chilean authorities recommend taking out travel insurance that also covers the corresponding medical assistance and eventual repatriation. In case of risky sports, it is recommended that the sports insurance coverage be as broad as possible and include the practice of such sports.

In order to process the visa to travel to Iran, it is necessary to provide a travel insurance whose certificate clearly states the name of the holder and the validity of the policy, which must coincide with the period of validity of the visa. As recommended by the Ministry of Foreign Affairs, we recommend you to purchase a travel insurance with broad coverage of medical expenses such as Totaltravel Premium, which reaches 1.000.000€.

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All drivers, passengers and even pedestrians are exposed to the risk of being victims of a traffic accident. Incidents of various magnitudes and consequences occur, often requiring the attention of medical teams for the recovery of injuries, whether minor or serious.

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The first determining factor as to who is responsible for the medical expenses is fault, a condition that will indicate which insurer bears the costs. For this, we start from the premise that every motor vehicle in circulation has a Compulsory Civil Liability insurance, with coverage that varies depending on whether the victim is the driver or the occupant.

Thus, if two vehicles are involved in an accident, the driver not at fault and the occupants (if any) will have their medical costs covered by the insurance company of the vehicle responsible for the accident. On the other hand, if it is the at-fault vehicle and it has occupants, its Compulsory Civil Liability Insurance will cover the passengers, but not the responsible driver, who will have to go to the insurance medical coverage.

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Traditionally, in the insurance contract, deductibles have the function of spreading the risk between the insured (the customer) and the insurers. Thus, when a loss occurs, the insured pays a portion of the loss out of pocket, which is known as the deductible.

The deductible may be a specific amount, i.e., a dollar figure, or it may be a percentage of the total amount of insurance contracted in the policy. Generally, the higher the deductible, the lower the premium payments for an insurance policy. The amount of the deductible is specified on the front page of the “declarations” of a homeowner’s or auto insurance policy, which generally means it is on the front page or cover page of the document.

The main reason hurricane deductibles exist is because they help keep insurance coverage available to coastal communities through private insurers and affordable. The fact that private insurers are interested and willing to offer coverage in many areas helps maintain competition and pricing, giving consumers more choices. Thus, consumers who reside in areas where there is competition can compare prices and services when shopping for property insurance.

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Travel Assistance: Protection in case of emergencies outside the place of residence, such as assistance for lodging due to convalescence, post hospital transfer, repatriation of remains due to death, among others. In addition to receiving travel information, purchase and/or reservation management for events, assistance in case of loss of documents and more.

Médica Móvil: Out-of-hospital emergency medical care, transfer to the hospital in intensive care units and home consultations in the cities where Médica Móvil offers its services, in addition to free national telephone medical guidance.

Is there an insurance to cover care home costs?
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