For most people, traveling symbolizes freedom. That is why the planning stages of an epic trip are often romanticized.
We always imagine all the beautiful memories that we will make in the process, to the point that we forget the unpleasant things that may arise.
Sometimes, traveling comes with a few downsides, including illness overseas, lost luggage, trip cancellation, or even instability in the destination country.
Such occurrences may dampen the mood, but the good thing is that if you consider them in the planning stage, the experience will be less painful. The best way to do it is to get travel insurance.
This way, you can safeguard your nonrefundable reservations and reimburse for any unexpected medical emergency bills you incur while away.
However, you should note that the typical travel insurance needs of an average traveler taking several short trips per year are different from what a digital nomad wants.
That is why we recommend travel nomad insurance coverage if you are a digital nomad intending to stay away for an extended period.
Luckily, there are several budget travel nomad insurance options that you can choose from.
We will only focus on the best ones in this article. But before we do that, let’s first understand the need to buy a travel insurance package.
Why Buy Travel Nomad Insurance?
Imagine you have saved up several thousand dollars to cover for your overseas trips, and a few days into your trip you get ill and admitted to the hospital overseas.
If you don’t have travel insurance cover, such a scenario may wipe out your entire trip budget before you even start enjoying your stay there.
Even for less costly cases like luggage lost or damaged devices, these may dampen your trip.
Also, given the fact that travel has become more and more unpredictable these days, the last thing you would wish is to experience a trip cancellation or trip delay without recovering your money.
So, you can only avoid or minimize losses associated with unfortunate events around your trip by getting a travel nomad insurance package.
The Best Budget Travel Nomad Insurance Options
In this section, we will analyze the best budget travel insurance options for digital nomads and remote workers living abroad.
We have included a variety of insurance providers, ranging from popular brands to less popular but budget companies offering quality packages.
Some of them focus on areas that the big players tend to overlook. So, let’s look at each one of them:
1. World Nomads Travel Insurance
World Nomads is one of the most famous travel nomad insurance providers that covers nomads from many countries across the world.
Their travel insurance package offers a generous health insurance limit. One of the unique things about it is that it doesn’t exclude pandemics, so COVID-related illnesses are covered.
This provider offers two travel insurance packages: Standard and Explorer plans.
The Standard plan costs $545 for six months for an average 30-year-old, while the Explorer plan costs $787 for the same traveler.
Key Points
- Covers trip cancellation, interruption, and delay
- Cover baggage loss
- Refund the amount spent on emergency medical services as well as non-medical emergency transportation.
- It includes coverage for adventure sports and activities.
- It doesn’t cover pre-existing conditions
2. SafetyWing Nomad Insurance
SafetyWing is also a reputable travel health insurance provider that allows you to purchase a travel insurance package even if you have already traveled.
This makes it possible for those who might decide to take their insurance mid-trip. The company offers packages that cover up to 364 days. The default is 28 days.
Costwise, SafetyWing charges travelers based on their age. A one-month policy for someone below 39 years old will cost $45.
Key Points
- Travel interruptions and delays are refundable.
- It covers emergency medical expenses, emergency medical evacuation, political evacuations, and the return of minor children.
- The package pays for lost baggage and
- It doesn’t cover pre-existing conditions and mental disorders.
3. True Traveller
True Traveller provides comprehensive insurance options at affordable prices.
It is tailored to young travelers who are looking to stay aborted for an extended period.
Digital nomads may benefit the most from their annual multi-trip policies.
A typical 30-year-old traveler will pay about $85 per month for the True Value plan.
Key Points
- Customizable plans
- Experienced travel insurance provider that covers multiple trips throughout the year
- Only available for UK and Europe-based digital nomads
4. Insured Nomads
Just like the above providers, Insured Nomads covers most of the risks associated with foreign trips.
Nomads and remote workers can choose from four different packages.
The simple World Explorer plan covers a single trip that lasts between seven and 364 days.
For this package, a nomad aged between 30 and 39 will pay $679 for a six-month trip.
Key Points
- The package covers natural disaster accommodations, local ambulance transport, emergency medical, evacuation, and repatriation costs.
- It also covers airport lounge access for delayed flights and lost luggage.
- It excludes pre-existing conditions, war, terrorism, natural disorders, and self-harm.
5. International Medical Group (IMG) Global
IMG Global has plans that cover expats and digital nomads while away, especially on medical risks.
Actually, the company focuses on medical coverage by offering four packages that cost between $201 and $834 per month.
Key Points
- It doesn’t cover canceled or delayed trips.
- It operates like a traditional medical insurance policy, only that it covers professionals while abroad.
6. Heymondo
Heymondo shines when it comes to covers for adventure sports and gadget protection.
The company offers an initial coverage capped at 90 days, but you can renew if necessary.
And just like the above providers, they charged based on age. So, a 30-year-old traveler will pay $50 per month for a comprehensive package.
Basic plans start at $30 per month.
Key Points
- Covers travel delay and missed connection, natural disaster, and baggage loss.
- It covers personal liability, accidents, and disability.
- Offer compensation for medical expenses and repatriation.
7. Travelex Insurance
Travelex offers attractive long-term insurance covers for digital nomads and other travelers.
Their travel policies last for one year and offer several add-ons like adventure sports, medical expenses coverage, and car rental collision.
The annual cost for this is about $441.
Key Points
- Include children in their plans.
- Covers last for up to one year.
- It includes adventure sports in their packages.
- Their Travel Select plan caps medical expense reimbursement at $50,000.
8. Genki
Genki is one of the most loved insurance providers that offers digital nomad short- to long-term travel insurance packages.
The most outstanding thing about their package is that it reimburses for medical expenses without a capped expense.
And this is available for only $50 per month for a young traveler.
Key Points
- Quick and easy signup process
- Cover various activities in their travel insurance packages.
- Straightforward claim process
- Doesn’t cover travel-related expenses like lost baggage, travel delays, or cancellation.
9. Switched On Gadget Travel Insurance
This option is best for techie digital nomads who want to protect their valuable gadgets while on the go.
Switched On Insurance offers a comprehensive gadget insurance package, more than what most insurance providers offer.
Most travel insurance providers tend to provide little or no coverage for gadgets.
Their packages are customized based on customer requirements.
Key Points
- Covers for travel cancellations and emergency medical expenses
- It includes device protection in their plans.
Other Budget Travel Nomad Insurance Options
- Medical for Nomads
- AIG Travel Guard
- Atlas Travel Insurance
- Allianz Global Assistance
- Seven Corners Travel Insurance
- Faye
- WorldTrips
- PassportCard Nomads
Frequently Asked Questions (FAQs)
A travel medical insurance policy can benefit some digital nomads residing in foreign countries under digital nomad visas.
Some countries offering digital nomad insurance may ask you to provide proof of medical insurance. So, travel medical insurance may come in handy in such a situation.
As you know, most US-based health insurance covers don’t always extend to overseas stays.
An annual travel insurance policy, on the other hand, is a package that covers multiple trips within the same year and may come with medical benefits.
These options may only work for digital nomads who visit multiple counties for short periods.
The cost of digital nomad insurance will vary according to the provider as well as other factors that cut across the industry.
These determining factors include travel destinations, age of the traveler, coverage amounts, and time spent abroad, among other factors.
Travel insurance for digital nomads usually covers a wide array of uncertainties, but there are a few exclusions.
Some of the common exclusions include pre-existing medical conditions, foreseeable events like named storms, pregnancy and childbirth, extreme sports or activities, and acts of war.
For more details about these exclusions, consult your travel insurance policy.
Interestingly, some insurance providers cover some of these risks, so you need to choose wisely if you have special needs.
Most travel insurance providers will cover most damages associated with foreign trips.
But there are some providers that go overboard to cover some normal exclusions.
In general, you need to look for these aspects as you choose your insurance coverage:
– Worldwide coverage
– Pre-existing conditions
– Emergency evacuation
– Emergency medical insurance
– Baggage loss
– Emergency assistance
– Trip cancellation and delays
– Gadget protection
– Quick insurance claim process
– Fair pricing
– Age coverage and if there is family coverage
Closing Remarks
A travel nomad insurance package is essential for any digital nomad who plans to stay overseas for any period of time.
A trip with insurance protection can offer financial coverage for lost items, flight delays and cancellations, missed flights, and emergency medical bills.
Ideally, you should never scrimp and gamble when it comes to your health and welfare.
So, choose any of the above travel insurance options as you plan for your next trip.
While buying a travel insurance package for a digital nomad is a personal decision, we recommend that you get several quotes from different providers before deciding on the right one.
This way, you will not only get the best deal but also choose a package that suits your needs.
The good thing is that there are several budget options like World Nomads and Genki, so you won’t have hurt your pocket.
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