"Of course were capable of doing the comp by ourselves, were not sure if this is a standard practice in the industry. Our teacher states it is but has only had one other couple before us pursue competitions."
It may be standard practice in your teacher's experience or studio, but most amateur couples do not pay for their coach to travel to out of town competitions with them.
It's not uncommon that a professionally active coach would happen to be at a major competition anyway, either to compete, judge, dance with a pro/am student or just remain involved in their community. And in a few cases, someone who has a role as an institutional coach for an organized "team" of dancers (particularly children) might have their travel funded.
But no, it's not the usual case. It sounds more like someone who primarily does pro/am, and as you said has only had one other competitive amateur couple before you. As each opportunity for dancing has some unique characteristics, that may have other implications for the effectiveness of the coach for your purposes as well, unless they are a professional who has experience competing in amateur divisions in their own background.
If you spring for the expense of a video, or it's a competition which permits private cameras, bringing back a video to show to your coach during the next lesson can be useful in helping them determine areas which need more attention to maximize your real-world performance. It can also be worth spending paid lesson time to have the coach watch you do an all-out runthrough of your dances, if you can do so at a time when the floor is either empty or shared with others also desiring a runthrough.
