Surviving Financial Crisis in Foreign Country

Imagine a situation wherein, you're mugged up or lost all your money while traveling abroad. 

It's scary, right? 

Yes, of course. 

I happened to be in this situation while I visited Santiago, Chile. I lost my wallet full of cash and cards at the airport just before boarding the flight to Calama. 

In such an utterly terrifying moment if you keep your calm and don't rush towards panic then you can still get financial help and enjoy your vacation. 

I stayed in Chile for five days after losing my wallet. I was able to get financial help at right time from Reliance travel insurance - A big thanks to Reliance. With all my experience I have figured out the following:

How to survive in such situations and still continue to enjoy your vacation? 

Here's a list of simple things which you could try in such emergencies. I figured out a few simple ways to come out of such situations. 

1. Banking apps - Install banking apps on your mobile and keep them password protected. Remember passwords (I had forgotten them).
2. Travel insurance - Buy travel insurance before you travel - which not only covers medical expenses but also lost and theft, financial emergencies, delayed or missed the flight. This won't cost you more than INR 100/ day (good insurance with maximum coverage). Policybazaar helps you to compare different travel insurances. Choose as per your requirement. 
3. Keep a copy of currency exchange/receipts 
4. Buy local SIM card - helpful to access the internet and local calls. 
5. Install a language translator - Helps you in case you visit a non-English speaking country. I used google translator to communicate with Police and airport authority. Note: Google translator works with internet. In emergencies try to connect to the internet with the help of local's hotspot. 
6. Keep calm - No country wants to keep you as a hostage in their country. They'll deport you for sure - remember this. The situation is not as worse as you're imagining. Just don't panic. Open your apps and block all your debit and credit cards.  
7. Report to airport/railway/bus/related authority - First thing you do is just report your loss or theft in lost & found section. If you're lucky enough, you may get your things back. 
8. Contact hotel - Contact hotel and request them to arrange for a pick up from where ever you are. Generally, hotels do send help in such situations. 
9. Western Union (WU) - Ask someone in India to transfer some money via WU. It may take a few hours to reach you. Go to the nearest WU show your passport, give them unique tracking number (MTCN) and senders name. You'll get your money in less than a minute. 
10. Indian communities - Come in touch with a few Indian people. Like restaurants, grocery shops. This tip may not be of great help, but there's no harm in knowing Indians. As they generally have contacts in the embassy. Still be careful while asking for help. 
11. Indian embassy - If nothing works and you don't have any other options then call to an embassy. 

These are some of the simple things which you can do without getting into a panic. 

Now, let me tell you how to claim insurance (if it's covered) during the financial emergency. 

Immediately, call to insurance company explain the situation. They will assist you further. 

Or

Write an email to the insurance company with the subject line "Policy number_Financial Emergency Assistance". 

Let your email be short and simple. The example posted below:

Hello

I bought a travel insurance (Policy number: ***********) from ***** (insurance company). I am currently in place, country. Yesterday I lost my wallet with cash, international debit cards, and driving license. I am running out of cash here. I am in great need of financial assistance as I am staying here for five more days. I am attaching my policy along with this email for your reference. I am unable to make a call too. You can contact me on WhatsApp on +XX-XXXXXXXX or via email.

I am in a great need of financial assistance. Anticipating a positive response from you as soon as possible.

Thanks,

XYZ

1. Go to Police and ask for a "Police report informing the loss." Show your passport to the police, explain the situation and get the report. Won't take less than 30 minutes. 
2. A written statement narrating the incident of the loss, i.e., type of loss, causes, circumstances, and the place.
3. Either you can file a complaint if you're very sure about the theft and have enough evidence (proper) against the person. In this case, you may have to attend court if he/she gets caught. Or go to the police and ask for a report informing loss - which you'll get in 30 minutes and no case will be filed. The choice is yours. I opted later one. 
4. List the things which you lost like cash, cards, license and so on. It would be good if you can quantify it such as USD 200, AUD 10000, etc. 
5. Documents to be scanned and sent - Install camscanner in your mobile as you may not find scanners at all places. Keep soft copies of these documents in your email, mobile, dropbox, google drive. 
• Claim form - Provided by the company 
• Passport copy (front page, last page)
• Copy of visa with an exit stamp from India and entry stamp in overseas
• Ticket copies
• Boarding pass copies
• Copy of currency exchange/receipts 
• Debit/credit card blocking proof - SMS/email/confirmation report
• Overseas contact number

If the insurance company feels like your case is genuine, then they may approve financial emergency assistance. You may have to go to the nearest WU branch to collect cash or someone from the company would come and handover you the cash.   

I know it's a terrible thing to happen but never forgot to enjoy the situation. As you don't lose your wallet every time you go on a vacation. 

Remember a line from a song Counting stars "Everything that kills me makes me feel alive"