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This is a topic that isn’t covered too much in the digital nomad community, but it is an important one. Many people travel each year without any travel insurance that will cover them in the countries that they are visiting; or even the type of activities that they plan to do whilst they are on their travels.
It is important to know what kind of cover is available, the risks if you decide not to take out any insurance cover, and also to be aware of how your cover works if you decide to take out travel insurance.
Getting travel insurance doesn’t automatically make you completely covered.
It is important that you read the fine print and understand exactly what you are being covered for when taking out your travel insurance. Just because you apply and you are granted travel insurance, it doesn’t make you completely exempt from the risks or situations that your travel insurance may not cover.
How does travel insurance differ for digital nomads?
Usually, the insurance underwriters are happy to provide travel insurance for people that are returning to the country on a set date. The majority of digital nomads will buy a one-way ticket without having a set date to return.
Without having this information at the time of your travel insurance application, you may find that you will be unable to get insurance cover for travelling.
Additionally, if you purchase the travel insurance without having a return ticket and something should happen to you, then you may find that your travel insurance is void, and that you won’t be covered.
You will also find that you won’t be able to purchase travel insurance that will have you completely covered if you are already into your digital nomad journey. So you will need to purchase travel insurance prior to setting off on your digital nomad trip.
What are the insurance options for digital nomads?
Have the funds to cover any costs that you may face whilst travelling.
This could either be the cheapest or expensive option for you. Should nothing happen to you, then you will not incur any costs and you will save the money that you would have spent on the insurance.
However, should something happen to you; then you may face expenses such as medical bills, or rescue operation fees. Depending on the part of the world that you go to, you will be personally liable to pay those fees.
Opt for travel insurance that will cover you during your travels as a digital nomad.
The only travel insurance provider that I’ve found that is ideal for digital nomads is World Nomads Travel Insurance.
The cost of their travel insurance isn’t the cheapest, but it isn’t amongst the really expensive travel insurance options on the market.
You may be looking at spending $400+ for the duration of your trip.
From my own experience travelling in some places where the health and safety risks are much higher, it is worth getting the travel insurance.
The other advantage is that you can purchase this insurance and you will be covered, regardless of where you purchase this in the world.
Unfortunately, these terms aren’t explained clearly by other insurance providers.
The other advantage with this type of cover is that it is easy to make a claim as a digital nomad.
Beware that credit card insurance is limited.
The travel insurance that may be provided on your credit card isn’t designed for digital nomad lifestyles. If you are doing a short digital nomad trip of 1-6 months, then it is possible that your credit card provider may provide you with adequate cover depending on the type of trip that you will have.
As a digital nomad, items such as “Adventurous activities” and the protection of your equipment is likely to be very limited if you decide to opt for insurance from credit card providers.
Although they are a budget (or even free option), it could cost you more in the long-term.
Have you travelled with an insurance provider as a digital nomad? Tell us your experience in the comments below.
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