If you are a digital nomad and love living a fully nomadic lifestyle and enjoying all the perks that come along with it, your first priority before hitting the road is likely finding the best insurance option for your lifestyle, that will cover you no matter where you are in the world.
In this article, we will discuss important factors to look for when looking for the best insurance for nomads, along with some of my favourite nomad insurance options.
You may be living in a different country every few months, or find yourself working in a variety of different countries every week or month.
You may also find yourself in countries where your home health insurance won’t cover you. All of this can make finding the right insurance a complex task. There are a few factors nomads should consider while looking for the best insurance:
Nomads have unique insurance needs. They often travel to multiple countries per year and may not have a permanent address.
In addition, they may work remotely or be self-employed. As a result, finding the right insurance can be a daunting task. It’s important to consider the best insurance for your unique situation and ensure you have insurance that covers all your needs.
Choosing the right nomad insurance for your needs can be a daunting task, especially if you are a nomad. Whether you are a digital nomad, a long-term traveller, or just looking for short-term coverage, there are a few things you should keep in mind when choosing a policy:
1. Make sure you always have basic medical coverage with your policy.
2. Be sure the policy includes emergency medical evacuation (most policies will but be sure this is included in your particular plan… if not, it’s best to find another option that does include emergency medical evacuation).
3. If you are traveling often, be sure to find a place that offers trip cancellation and interruption. Read the fine print on this one, as insurance companies can get tricky with how much they will pay out.
4. If your bag or suitcase is all you travel with, it might be a good idea to get baggage and personal item coverage.
5. If you will be doing extreme sports on your travels, it might be best to have a policy that covers adventure sports and activities.
6. Before you purchase, be sure to understand the policy’s limits, and I highly recommend reading the fine print.
7. Be sure to understand what your policy DOES NOT include… even hop on the phone with an agent to be sure you understand this list correctly.
8. Ensure sure you buy a policy that offers 24/7 customer support – whether through phone, email, or both.
9. Try to compare the policies and prices of different insurance companies to get the best policy… I have a whole list below of my favourite nomad insurance options.
10. Make sure you understand the claims process and how to get your money if you do have an emergency!
Nomadic lifestyles are on the rise as more and more people choose to ditch the traditional 9-5 in favour of a life of adventure. While this lifestyle has many benefits, it also comes with untraditional risks. One of the biggest risks is the lack of insurance.
Nomads often have trouble finding health insurance that covers them adequately. This is because most health insurance plans are designed for those who live in one place. Nomads, on the other hand, travel frequently and often live in multiple countries per year.
This means that it is even more important to choose the best insurance for nomads, to make their stay in a particular place or country safe and sound. The right insurance plan from a reliable company will help you to get the best coverage and will give you peace of mind if you are in an emergency.
Unfortunately, many insurance companies don’t provide coverage for nomads. This is because they are considered to be high-risk customers. However, there are a few insurance companies that do provide coverage for nomads, some of them being: Buddy Insurance, Seven Corners, IMG Global, Foyer Insurance, and World Trips.
It is important for nomads to be covered with health insurance, travel, insurance, accident insurance, or evacuation insurance while staying in a new country… even having coverage for all these options is a safe bet!
As a nomad, I would never compromise on finding the best insurance plan and company to keep yourself safe on the road and give you peace of mind during your travels. I highly recommend creating a list of the non-negotiables that you will need for your health and safety while on the road and finding an insurance company (or perhaps multiple companies) that is reliable and that you trust to keep you safe while on the road.
Buddy Insurance: This is a reliable company that offers accidental coverage plans for nomads. They will cover you within 90 seconds if you are already registered with them.
Seven Corners: This is also a reputable insurance company among the community of nomads that offers trip insurance, travel medical insurance, medical evacuation, and repatriation.
IMG Global: IMG Global offers the perfect insurance plans according to the needs of nomads. It offers international health and travel coverage plans with amazing benefits.
Passport Card: Passport Card offers insurance plans for nomads in almost every country around the globe. They issue a red card for the company to get coverage whenever its applicants need it. This is a unique approach to insurance, as they will pre-load your card with the exact amount needed to pay your bills, and instead of the money coming out of your pocket, it will come directly off the card!
True Traveler: Even if you are already abroad and have not applied for an insurance plan yet, this company allows you to apply wherever you are in the world. It has plans that suit everyone, from those on holiday to travellers, backpackers, or adventure travellers.
MedJet: If you are hospitalized 150 miles or more from home, Medjet will arrange air medical transport all the way back to your hospital of choice in your home country — regardless of medical necessity.
Foyer Insurance: Whether you are travelling abroad alone, as a couple, or with family, Foyer Insurance has insurance plans that will suit everyone. They offer medical evacuation and freedom of choice to choose the doctor or a hospital of your choice.
AirHelp: In case of a delayed or cancelled flight, AirHelps will cover its applicants with the entire claim, from kick-off to compensation. They do not charge if they fail to fulfill their commitment and payout.
Insubuy: Insubuy is a great option for nomads to get easy insurance. They offer insurance plans for all types of immigrants, students, and visitors. They can provide you with great options as per suitability and length of stay in a country.
Now Health: Now Health is known for its unique insurance coverage like global medical coverage for ex-pats, comprehensive health coverage for the whole family, international coverage for students, and worldwide coverage for groups like SMEs and large corporations.
Safety Wing: A very notable nomad insurance option, and often one of the more popular options. Safety Wing allows you to pay for your insurance monthly, almost as though you are paying your phone bill.
While there are many different nomad insurance options available, each company or policy may not be a one-size-fits-all for each nomad. All digital nomads have different needs and embark on different adventures. Be sure to browse through the above options listed to see what is best for you, and you can find my comprehensive list of 20+ nomad insurance options here. Happy and safe travels!
If you want to learn more about becoming a digital nomad, creating a business you are passionate about, global taxes, and entrepreneurship, check out the links below:
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