Worldwide Coverage

Example

“The executive's kidnap and ransom insurance policy included worldwide coverage, providing protection during business trips to high-risk countries in South America and Africa.”

Memory Tip

Worldwide coverage means your insurance 'goes around the world' with you - no matter where you roam, you're covered at home and away.

Why It Matters

Worldwide coverage provides peace of mind for international travelers and global businesses by ensuring protection doesn't end at national borders. Without this coverage, medical emergencies abroad, theft of personal items while traveling, or liability incidents in foreign countries could result in significant out-of-pocket expenses and legal complications in unfamiliar jurisdictions.

Common Misconception

Many people assume their domestic insurance automatically provides the same level of coverage internationally, but most standard policies have limited or no foreign coverage. Additionally, some think worldwide coverage means identical benefits everywhere, when coverage may be subject to local laws, different benefit levels, or require specific procedures like pre-authorization for medical treatment in certain countries.

In Practice

A business traveler with worldwide medical coverage falls seriously ill while on a project in Thailand. Her policy covers the $15,000 emergency surgery and $8,000 medical evacuation to a better-equipped hospital in Bangkok that wouldn't be covered under her basic domestic health plan. The worldwide coverage also provides 24/7 multilingual assistance to coordinate care and communicate with her family, services worth an additional $2,000 that prove invaluable during the crisis.

Etymology

Combines 'worldwide,' first used in the 1890s as global commerce expanded, with 'coverage,' from the insurance practice of 'covering' or protecting against risks.

Common Misspellings

Related Terms

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Other insurance terms you should know

See Also