Worldwide Coverage
What Does Worldwide Coverage Mean?
Worldwide coverage is an insurance program that provides protection across the globe. Due to variations in legal climates and regulations, most global programs typically cover property, business interruption, and, in some cases, crime. These policies are designed to address common risks faced by businesses and individuals operating internationally but may not offer comprehensive coverage for all types of risks due to regional legal differences.
Insuranceopedia Explains Worldwide Coverage
Insurance policies typically have territorial limits for liability coverage, but an endorsement or rider can extend this coverage worldwide. Personal property insurance policyholders may choose this option to protect their belongings outside the policy’s standard coverage area. Business owners with commercial general liability policies can also purchase it to extend liability coverage for damages occurring anywhere in the world. Some life insurance companies offer worldwide coverage for policyholders traveling abroad, but this is often limited to a set period, usually around six weeks.
