Anything can happen to your possessions when moving abroad, and it can be quite stressful imagining the cost of getting a brand new TV or refrigerator. In case of loss or damage on the way, it is always handy to have cargo insurance to cover your belongings. This type of insurance is charged as a percentage based entirely on the total declared value of your belongings.
The charges range from 0.6% to 4%, to insure belongings worth $50,000 (the normal value of the contents of a home for a family of four) you should expect to pay between $300 and $2,000. Keep in mind that longer distances will attract higher premiums.
COST: Between $300 to $2,000
You’re going to need water, electricity, internet and gas when you arrive in your new home. So you’ll want to make sure you get these connections set up in advance.
Keep in mind that charges vary depending on the service provider, but utilities can cost $14 to $90 for each connection. You might want to look around and compare rates to secure the best deal for a utility connection before making a commitment.
COST: Between $56 – $360
You’re going to need to get a flight to your new overseas home, and international flights are quite costly. The cost of tickets depends on your destination, but you can expect to pay between $1,600 and $7,000 for a family of four. For longer flights with layovers, you might need to pay for accommodation as well, which can cost an extra $60 to $400.
Some airlines offer layover accommodation as part of their flight package so make sure you check out if your airline does as well. It is also usually less expensive to book a flight from three weeks to four months before your flight date.
COST: Between $1,600 – $7,000+
You’re going to need insurance for yourself as well to cover any risks you’ll be exposed to when traveling. Travel insurance normally covers personal accidents, medical emergencies, loss or damage of luggage or important documents like passports.
The average cost of travel insurance is 4% to 10% of the total cost of your trip. For trips that range $1,600 to $7,000, this translates to $64 to $700, it’s a pretty wide range so best to calculate it yourself. The larger the trip cost, the higher the premium.
COST: Between $64 – $700
Once you are settled in your new host country, your travel insurance will no longer cover your medical needs as a resident. You will need to purchase medical cover as a resident with a registered insurance company. For expatriates, medical insurance can range from $500 to $15,000 per year with an average cost of $3,740 per year.
The small things often get overlooked, but when it comes to spending – they make themselves known. If you’re packing up on your own you’ll need to get yourself solid, good-quality boxes to withstand the journey.
A single box can cost between $3 to $21 depending on its size and material, the better the box, the higher the cost. For a one-bedroom apartment, you will need boxes worth $70 to $100. To pack up a four-person family home you will need boxes worth $320 to $550.
You will also need bubble wrap, packing tape, locks and blankets to keep your goods safe. In total, these could cost between $80 to $150.
Hopefully, these details help you get better prepared for your international move!
COST: Between $150 – $700
