Not everyone is cut out for the life of a digital nomad but for some people, it's the perfect existence. The ability to work anywhere makes the world your office, allowing you to earn a full-time income while working from literally anywhere.
When you work from a coffee shop in your home town or a library in the city, there's not much to worry about when it comes to travel insurance. But what about when you're working from a beach in Maui, a pub in London, or a hotel in Hong Kong?
For the digital nomad who spends more nights away from home than sleeping in their own bed, travel insurance is a must. Not only does it cover travel problems like delayed or canceled flights but it also makes sure you get the medical attention you need in case something happens when you're far from home. Here are some things to think about when deciding what kind of coverage you need, what to look for when to find the right policy, and some companies that offer the best travel insurance for digital nomads.
In this post, we have listed some of the best travel insurance for digital nomads in 2019. Let's get started here.
[100% Verified] Top 4 Best Travel Insurance For Digital Nomads 2019
Safety Wing is one of the newest companies to offer travel insurance, but their policies are backed by Toko Marine, one of the biggest insurance providers in the world. The best thing about Safety Wing is that it was designed by digital nomads who couldn't quite find a policy that gave them exactly what they were looking for.
Their digital nomad travel insurance is also a really good value. Premiums are based on age. The lowest is around $37 for four weeks of coverage and billing is done on a monthly basis. They offer a yearly deductible capped at $250 per policy, which you can extend up to 364 days.
This policy also covers you for a time if you have to return home in between trips. Generally, home country coverage continues for up to 30 days in a 90-day cycle. This is a great feature for people who travel most of the time with short one or two week breaks at home.
Private facilities are covered, too, so you don't have to go to a public hospital or clinic. There are a lot of places that support direct billing, too, which means you don't have to pay out of pocket and wait for reimbursement.
One of the really attractive things about Safety Wing is that you can get a policy no matter when or where your traveling, with few exceptions.
World Nomads is a good choice for young digital nomads without a lot of ties at home. They don't accept cancellations for many reasons, even most work obligations aren't accepted. If you work for a company that sends you to various destinations at short notice, you may not be able to change your policy. You're also only allowed to return home once during the policy period. If you like to take breaks in your travel to visit family and friends, you're better off getting a separate policy for each trip which is more expensive in the long run.
Pre-existing medical conditions aren't covered and they do not provide policies for people over the age of 70. They use different insurance companies from around the world so your country of residence has a lot to do with the price, limits, benefits, and terms you'll receive. Extending policies is possible but comes with a pretty hefty fee.
Some of their packages cover a lot of extreme activities and sports, including bungee jumping, hang gliding, sky diving, and caving. They have direct billing with a lot of facilities around the world which means you don't have to wait for reimbursement.
This is a pretty good plan with decent coverage but doesn't have a lot of flexibility. If you have a pretty set travel schedule and don't come home to visit a lot, it's worth looking into.
One of the best things about Allianz is you can choose a policy that covers you per trip or for an entire year. They have a lot of options and basic plans are pretty affordable. They also have an Executive plan that includes coverage for business supplies and rentals if, say, your laptop gets stolen and you have to replace it for work purposes. Some pre-existing medical conditions are covered, too.
Their plans vary a bit in coverage, too, so you're free to choose the one that suits you most. If you're not on a tight schedule and don't care much about cancellations or delays, you can get a plan that covers only medical costs.
All plans come with a 24-hour hotline you can call if you assistance. More expensive plans also include a concierge service that can help you get restaurant reservations, tickets to shows, or set you up with other local events so you don't have to worry about all the little details.
This is a great plan for travels who want medical coverage without coverage for trip delays, cancellations, or interruptions. It also doesn't cover lost luggage or anything like that, only medical care.
Their deductibles are pretty flexible and cover the whole year instead of per incident, which saves money in the long run. Extending coverage is pretty easy and does not come with the same high fees that some other companies charge, though extensions count as new policies which can cause some issues. If you got sick on the initial policy, it would be considered a pre-existing condition under the extension which could impact coverage.
Travel Smart, Travel Safe
The digital nomad lifestyle is a lot easier to maintain when you know you have the right travel insurance. There are a lot of things to consider and a lot of great policies out there. While it might be tempting to skip travel insurance, it's a risky move and one that we don't recommend. You never know what's going to happen and it's always better to be prepared.
Why Do You Need Travel Insurance?
Travel insurance isn't all that different from any other type of insurance. You should have enough coverage to prevent yourself from financial ruin in the worst-case scenario. Is it likely that you'll have to deal with a natural disaster, terrorist attack, or serious illness when you're away? No. Is it possible? Of course, it is. That's why you should always be prepared, just in case.
Choosing the Right Insurance
Different travel insurance policies provide different types of coverage. Here's a quick run-down of what you can get.
Medical
Having coverage for medical expenses while you're traveling is essential, especially if you're gone for most of the year. Even if you're covered at home or have access to free healthcare, that may not be your experience in other countries.
Medical coverage usually applies to sudden illness, disease, or injury. If you sprain your ankle on a morning beach run or come down with appendicitis far from home, having access to medical care is the most important thing. But you don't want to have hundreds or thousands of dollars in medical bills once all is said and done either. When traveling, medical coverage from a travel insurance policy usually covers the care you receive locally or at the closest facility qualified to take care of you.
Medical or Emergency Evacuation
Because you don't always travel to places with outstanding medical facilities, medical or emergency evacuation coverage is essential. If you need treatment and there are no local facilities that can provide it, these policies cover your transportation to a place where you can get the care that you need. The decision as to whether or not you need to be moved is usually determined by the local medical staff and the medical advisor at your insurance company. Sometimes, they fly you home but it's more likely that you will be transported to a facility in a nearby country that is equipped for your care.
Emergency evacuation coverage is absolutely necessary if you spend a lot of time in remote areas or underdeveloped countries. While it's likely you won't need to be rescued from a mountaintop or anything, it's possible. And you don't want to be hit with a bill for tens of thousands of dollars while you're in recovery.
Travel
These types of policies also provide coverage for issues that commonly arise during travel. Canceled trips, delayed flights, missed connections, stolen passports, lost luggage... these things happen.
It's more likely that your airline will misplace your luggage than it is that you'll break your leg while traveling so it makes sense to secure this type of coverage.
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Conclusion: Best Travel Insurance For Digital Nomads
There are a few basic things to consider when choosing a travel insurance policy.
There are a lot of travel insurance companies out there so it's not hard to find one that suits your needs. Here are some of the best. If you want a reliable Travel Insurance then you should consider getting started with Safety Wing Travel Insurance Now.
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- Choose a policy with a deductible that covers the policy period and not each incident, especially if you travel a lot. In the long run, this saves you money.
- Consider how often you're traveling versus how often you're at home. If you're rarely at home, it pays to invest in a better policy. The longer you're away, the greater the chance that you'll need the coverage one day.
- Opt for a policy that allows you to renew while traveling.
- Choose a policy limit that fits your travel schedule.