How I Deal with Journey Insurance coverage as a Digital Nomad

Of the entire pesky points that include switching to a nomad life, there’s one downside that’s now fortunately much less of an annoyance than it was:

Journey insurance coverage.

Yeah, I do know digital nomad journey insurance coverage shouldn’t be the sexiest subject on the planet, however I’ll attempt to make it as horny as I probably can on this article.

As a result of planning for the worst case state of affairs is sadly a essential a part of long run journey as a digital nomad.

I’ve been touring since 2016, and I used to battle with easy methods to strike the stability between defending myself from the inherent dangers of touring with the truth that journey insurance coverage may be, like, tremendous freakin’ costly.

The straightforward reality of the matter is that neither conventional insurance coverage nor authorities security nets are actually designed to cope with the phenomenon of digital nomads.

And so for too lengthy, location-independent distant employees and long-term vacationers like me have simply slipped by the cracks.

Fortunately there’s an progressive firm that seen a niche available in the market and created a journey medical insurance coverage product that’s particularly designed for – and priced for – digital nomads.

That firm is known as SafetyWing – and I’ve been a contented paying buyer since 2019 of their subscription-like journey medical insurance coverage product.

On this submit, I’ll let you know why I select to purchase journey insurance coverage as a digital nomad, and why I believe SafetyWing is presently one of the best accessible journey medical insurance coverage for digital nomads as of 2020.

A fast word: along with being a paying buyer, I’m additionally an affiliate of SafetyWing. So should you select to enroll in Security Wing utilizing certainly one of my referral hyperlinks on this article (like, say, this one), my weblog could obtain a small fee at no additional value to you. Thanks for supporting my work!

Do Digital Nomads Even Want Journey Insurance coverage?

Me pondering travel insurance for digital nomads
Me residing my nomad life in Rio – Hey, I stated I’d strive to boost this submit proper? : )

Journey insurance coverage is a kind of matters you don’t actually take into consideration till it’s too late – after which you find yourself regretting a choice you made months or years earlier than.

And if you end up within the course of of creating the choice whether or not to purchase insurance coverage or not, it may be so extremely tempting to simply skip it altogether.

With a standard journey overseas, which may not be totally irrational conduct.

In any case, most individuals solely trip for per week or two – and the chances of something occurring in a given interval like that simply aren’t very excessive to begin with.

However matters are a bit completely different for digital nomads.

Nomads, by definition, journey on a regular basis.

And over time, the dangers of journey actually begin to add up.

Unhealthy matters will finally occur whereas touring. I ought to know – I’ve been burglarized twice already on this journey, and I contracted a nasty case of dengue fever in Thailand final yr.

The underside line is that the longer you spend overseas, the extra doubtless one thing is to occur the place you may remorse not having insurance coverage.

And whereas I’ve by no means really needed to file a journey insurance coverage declare (I stupidly lacked insurance coverage cowl in the course of the housebreaking, and didn’t spend fairly sufficient to warrant a declare throughout my dengue bout), I’ve additionally simply by no means personally felt snug touring for lengthy intervals of time overseas with out insurance coverage protection.

However till not too long ago, there was one other main downside with shopping for journey insurance coverage for digital nomads …

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Why Digital Nomad Journey Insurance coverage (Used to Be) So Darn Costly

Man in hard hat - travel insurance
What to put on should you don’t have journey insurance coverage 🙂

After I first grew to become a digital nomad, the one choices for digital nomad journey insurance coverage had been the identical choices as had been accessible to common vacationers.

The issue with that?

“Regular” journey insurance coverage is fairly freakin’ costly when purchased on a perpetual, recurring foundation – which is mainly what you’d have to do as a digital nomad.

For my first yr touring all over the world, I purchased an annual journey insurance coverage coverage by World Nomads – probably the most widespread names in journey insurance coverage.

The full value labored out to greater than $100 monthly.

It was a painful expense, however one I grinned and bore as a result of I didn’t see one other accountable possibility.

Proper about now, you could be questioning … why is long run journey insurance coverage so costly anyway?

Effectively, the actual fact is that the majority journey insurance coverage merchandise are designed for most vacationers.

And most vacationers solely journey for a number of weeks at a time, most.

Me at the pyramids of Giza
Me throughout my first yr of journey in Egypt

Plus, most journey insurance coverage merchandise are loaded up with excessive protection for matters like journey delay and misplaced baggage safety. I’m usually skeptical of the worth of such coverages anyway as a result of I personally suppose that over time the higher worth is to self-insure for such low-to-mid-dollar threat classes. However I believe that’s very true within the case of long-term journey.

And, lastly, most insurance coverage has to additionally account for the extraordinary excessive prices of america well being care system for vacationers headed there or returning house after lined accidents overseas.

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Anyway, the underside line is that journey insurance coverage for digital nomads has historically been prohibitively costly largely as a result of most journey insurance coverage covers are designed for a very completely different market.

Fortunately, there may be now at the very least one product particularly designed for digital nomads …

Enter SafetyWing – the First Try at “Digital Nomad Insurance coverage”

Nate Hake at poll
Who wants a shirt once you’re lined by SafetyWing?

SafetyWing is the world’s first journey medical insurance coverage product particularly focused at digital nomads.

They invoice themselves as a “world security web” for digital nomads, with a laser-focus on what I believe is an important threat confronted by most nomads – the potential of an accident or emergency medical payments whereas overseas.

SafetyWing works like a subscription, with the concept digital nomads enroll and simply auto-renew protection.

And the primary promoting level for SafetyWing is you could really use it like a subscription as a result of it solely prices $37 for 4 weeks of protection.

That’s a couple of third of what I paid for my World Nomads coverage!

And SafetyWing comes with pretty cheap journey medical insurance coverage coverages, together with:

  • As much as $250,000 in Journey Medical Insurance coverage Protection – Although topic to varied exclusions and a (fairly cheap) $250 deductible, that is the meat of the advantages I care about. If I ever find yourself in a hospital in Thailand or Mexico once more, I’ll really feel a little bit extra snug realizing I’ve SafetyWing behind me.
  • As much as $20,000 in Repatriation of Stays– I do know this can be a morbid, however one of many dangers of digital nomad life that actually horrifies me probably the most is the potential of passing away overseas AND posthumously sticking my household with an enormous invoice to get my physique again house. God, simply typing that makes me anxious.
  • Worldwide Protection – I like that protection applies in all places, with the notable exception that protection in your house nation is proscribed to 30 out of each 90 days (or 15 out of 90 for US Residents).
  • As much as $100,000 in Emergency Medical Evacuation Protection – Although I’m actually not almost as epic an adventurer as I typically suppose I’m, I’m nonetheless horrified on the considered having to name in a helicopter as a result of I broke my leg mountaineering a mountain in Kyrgyzstan or one thing.
  • As much as $1,000 in Emergency Dental Protection – And what’s good is that the dental protection doesn’t have deductible!
  • As much as $10,000 in Third Occasion Legal responsibility Protection – For those who get into an accident, you might need to pay another person’s payments along with your individual, so although the bounds are low, that is nonetheless good to have.
  • As much as $5,000 in Journey Interruption Protection – I don’t personally care an excessive amount of about these type of coverages for causes I defined earlier, but it surely’s good that it doesn’t have a deductible.
  • Protection for Scooter and Moped Accidents – Although there are exclusions to think about, it’s particularly good for SE Asia digital nomads to have this protection.
  • Younger Kids are Included – As much as two youngsters as much as age 10 may be included with out additional value. Who says having children is dear? ; )

Total, for me this looks like a fairly cheap package deal of journey medical insurance coverage coverages – particularly contemplating the worth.

After all, you must try SafetyWing for your self and make your individual name.

First, there are a pair drawbacks to notice although:

SafetyWing is notably mild on matters like private results coverages, however that’s sorta the entire level – SafetyWing brings the associated fee down by specializing in protection for catastrophic dangers that nomads can’t in any other case defend in opposition to.

Nate Hake in Budapest
It’s so onerous to search out photographs for a submit about journey insurance coverage, so right here’s certainly one of me wanting foolish in Budapest as a substitute …

Actually, that distinction in philosophy might be why SafetyWing prefers the moniker “journey medical insurance coverage for digital nomads” versus the slightly-smaller-mouthful “journey insurance coverage for digital nomads.”

Notably, there are a number of matters that SafetyWing does otherwise – presumably to get the general value down – that you must analysis and contemplate earlier than enrolling:

  • No protection for electronics – supposedly it will accessible as an add-on later, however for now your telephones, cameras, and laptops aren’t protected!
  • Journey contained in the US prices extra – Although irritating for People like myself, I perceive additionally perceive why – the US medical system is simply so insanely costly. Including on US journey will add $31/4 weeks to the associated fee.
  • You get 30 out of 90 days lined in your house nation – Or 15 out of 90 days should you’re house nation is america like me.
  • No protection for routine examine ups or preventative care – SafetyWing is for emergencies, and isn’t meant to exchange medical health insurance (although they’re additionally engaged on a extra conventional medical health insurance product too!).
  • Pre-existing situations are (largely) not lined – That is industry-standard in relation to journey insurance coverage, sadly.
  • No protection for high-risk actions – For those who plan to have interaction in loads of journey sports activities, you could need to purchase separate cowl (World Nomads has plans for that).

So, as you may see from above, SafetyWing shouldn’t be but the 100%, completely good journey insurance coverage for digital nomads.

However SafetyWing does present a really cheap medical security web at a value most digital nomads can really afford.

That’s why I’ve been a paying buyer since 2019, and can fortunately proceed to maintain my SafetyWing subscription energetic.

Click on right here to enroll in SafetyWing immediately and cease worrying about sorting your digital nomad journey insurance coverage.

***

That’s it for this text on how I get journey insurance coverage as a digital nomad.

SafetyWing isn’t the right journey insurance coverage for digital nomads answer, at the very least till they roll out their electronics add-on and the medical health insurance product for people, but it surely’s a HUGE step in the proper route.

Wait – don’t go away but!

If I used to be useful to you on this article, I may be of much more assist sooner or later!

So ensure to enroll in my Journey Lemming digital nomad publication right here and get all my greatest suggestions for residing your greatest digital nomad life:

Thinking about extra articles concerning the nomad way of life? Take a look at a number of options for what to learn now:

Secure travels!


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