Our Experience: Best Travel Insurance for Digital Nomads
Traveling has to be one of our favorite parts of life, but it’s certainly an unpredictable experience. As digital nomads ourselves, we understand the importance of having flexibility and peace of mind while traveling (whether you’re traveling for a week or full-time), and that’s why we highly recommend purchasing travel insurance before setting off on any adventure. It’s also why we’ve chosen to highlight SafetyWing in this article, which we consider to be one of the best travel insurance for digital nomads.
During our years on the road, we’ve experienced firsthand how valuable travel insurance can be in unexpected situations. From food poisoning to the unexpected fall, travel insurance has given us the financial protection and support we’ve needed to mitigate the chaos and continue with our travels. However, we also understand that there are many options out there and that it can be tough to choose. For that reason, we hope this account and overview help ease the decision.
Why Purchase Travel Insurance
While most of us consider insurance when we’re at home, we often forget to purchase it when we travel. The thought “that would never happen to me” has certainly crossed our minds, but the reality is that traveling can come with its challenges and unpredictable consequences — whether you’re an adventurous traveler or simply visiting a place leisurely.
Unfortunately, traditional insurance generally does not cover travel expenses, meaning that any problem abroad (either an injury or a flight cancellation) will likely not be covered, potentially incurring high fees. While you’ll hopefully never need it, making a small payment for insurance upfront will provide you with financial protection, medical support, and a valuable network in the event of an emergency, allowing you to simply focus on enjoying your trip.
Additionally, if you’re like us, living a life as a digital nomad, you’ll need specific insurance that can cover traditional checkups as well as emergency procedures almost anywhere in the world. Since you don’t have a traditional home, what we think of as standard insurance most likely won’t be enough. If you’re working for an international firm, they might have an insurance plan that can cover your health care costs anywhere, but if you’re a contractor like us, you’ll need to find your own coverage.
Types of Insurance Offered
In our experience, the first step is to determine what type of coverage you will need. Are you going on a one-week trip and want to make sure you are financially covered or are you embarking on a digital nomad journey of nonstop travel where you might also need routine care? Then, the next step is to find out what is covered under your current insurance plan. Do they cover travel emergencies or offer coverage at home and abroad?
Once you’re clear on your needs, the next step is to find the insurer that works best for you. There are several options out there, but we’ve found SafetyWing to be an affordable, flexible, and reliable partner in all of our travels.
Their platform is incredibly easy to use and the entire process, from subscribing for insurance to filing claims, is straightforward. Plus, if you have questions, their customer service is knowledgeable, kind, and eager to help. You can purchase the insurance at any point from anywhere in the world, meaning you don’t have to do it before your trip or can even do it during it, if you forget. And there is no limit on the duration of your trip.
Additionally, what’s particularly helpful is that SafetyWing offers two different kinds of insurance to meet all types of demand: nomad insurance and remote health. We’ll break those down here for you to decide how you may be able to use what we consider to be one of the best travel insurance for digital nomads.
SafetyWing Nomad Insurance
What is covered?
This insurance covers unexpected illnesses or injuries for those traveling outside their home country, including eligible expenses for the hospital, doctor, or even prescription drugs. It also covers all medically necessary Covid-19 treatments and tests. However, the Nomad Insurance does not cover routine checkups or things like cancer tests or treatment, or rehabilitation, making it best for travelers who still have standard health insurance back home.
In addition, the insurance provides emergency travel-related benefits such as evacuation from local unrest, unplanned overnight stay, and lost checked luggage, which can really come in handy for frequent travelers. They cover up to USD 5,000 for trip interruption and up to USD 100 a day after a 12-hour delay period requiring an unplanned overnight stay.
How much does it cost?
Prices vary depending on the person’s age, as well as the length of the trip, but prices are quite affordable. For instance, for someone between 10-39 years old, the Nomad Insurance will cost around USD 45 for one month. Note that coverage will be more expensive if you’re traveling in the United States.
The deductible on medical coverage is USD 250 per policy period.
What stands out?
- You can purchase this insurance even after you’ve left your home country. So, if you forget or are already on the road, there are no restrictions.
- You have the option of signing up for automatic monthly renewals, meaning that your coverage will extend automatically every 4 weeks until you cancel it or for a maximum of 364 days. After 364 days, you’ll have to re-purchase new coverage.
- There are no long-term commitments and you have the flexibility to can cancel the plan without fees.
- After 90 days abroad, you’ll be covered for brief visits back home for up to 30 days (15 days for US residents). However, this does not include planned medical visits, just emergency issues that may come up during your stay.
- The platform is simple and easy to use. The policies covered and not covered are laid out clearly, making it easy to understand, and their customer service is top-notch if you ever have any questions or further concerns.
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They offer a 24/7 travel network that you can contact at any point in the event of emergency travel arrangements (including emergency medical evacuation), doctor referrals, or for questions about your coverage.
- There are no restrictions on what hospital or doctor you can visit. You can go to any licensed hospital or doctor of your choice, private or public. They also offer a nice “Find a hospital” feature on your profile to search for a provider close to your location.
SafetyWing Remote Health
The Remote Health Insurance is fully-equipped health insurance for remote workers, making it one of the best travel insurance for digital nomads. It’s perfect for long-term travelers or full-time nomads since it includes coverage in the home country and anywhere in the world, and covers not only accidental injuries but also cancer treatments and routine care.
What is covered?
This insurance is very different from traditional travel insurance since it’s a full health insurance policy. This means that just like the nomad insurance, it also covers emergency and unforeseen illnesses or injuries, but unlike the nomad insurance, it does cover other medical issues like cancer tests and treatments, rehabilitation, and routine care. It has a maximum coverage per policy year of USD 1,500,000 and people must be under 74 years of age to apply.
This insurance is a yearly contract with monthly payments, covering long-term stays everywhere in the world. However, stays in the United States, Hong Kong, and Singapore are limited to 30 days.
Additionally, it’s important to note that since this isn’t a traditional travel plan, it doesn’t cover other travel factors like delays, lost luggage, or political evacuations.
If you want to learn more about exactly what is covered under the remote insurance, you can check out their full policy document here.
How much does it cost?
The exact price will depend on several factors, including age and add-ons (i.e. dental, vision, etc.), but to get a sense, the average cost for someone between 18-39 years old is USD 206 per month. For reference, we used the international Cigna insurance for some time, with similar benefits, and paid about the same amount, so it’s comparable to industry prices.
What stands out?
- The package is truly unique and unlike all other travel insurance plans, since it covers more than just medical emergencies, including cancer tests and routine care.
- The plan is fully global, meaning that you can benefit from it whether you are in your home country, a new country, or traveling nonstop.
- Filing claims is very easy. For hospitalizations and pre-planned treatment, you can arrange for the payment to go directly from the insurer to the hospital. For smaller un-preplanned treatments where you are not hospitalized, you can use the online claims process and will be reimbursed within 15 days.
- You can purchase the insurance plan from anywhere in the world and keep moving around without any penalties or fees.
- You have access to a 24/7 support group that you can use anywhere in the world.
- You can seek treatment at any registered hospital with any doctor in the world, public or private.
- Since it’s a full health insurance policy, you can use it to apply for visas, including the popular digital nomad visas offered around the world.
Insurance Comparison
Of course, before making any purchases, we encourage you to check their offers thoroughly to determine what’s best for you. However, in our experience, SafetyWing is a great option for two kinds of travelers: 1) those looking for affordable and flexible travel insurance to make sure they are financially protected in the event of an emergency during their adventures, or 2) those traveling nonstop, who are hoping to have a full health insurance plan that will protect them both at home and abroad.
If you have any questions, do reach out to SafetyWing. Their customer service staff is friendly, knowledgeable, and eager to help. And make sure to check out this helpful chart that clearly lays out just how the Nomad Insurance differs from Remote Health.
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