Being insured during your digital nomadic journey or your extended workcation is tricky and differs a lot from your typical insurance policy selection process. Having a health insurance that covers multiple countries or registering for an insurance in a country where you are not a long-term resident will likely break the bank or may not be even possible.
The common alternative for digital nomads is travel insurance, which is insufficient since it only covers travel-related incidents, such as accidents, baggage loss, and flight delays. The best alternative is what is now commonly referred to as nomad insurance. It is a a hybrid that covers travel incidents with benefits that any traditional health insurance offers.
What to Look for in a Nomad Health Insurance
Before reviewing your possible future insurance options, let’s go through what you should look for to choose the right coverage for your digital nomadic journey:
- Assess Your Needs: Determine the level of coverage required based on your travel destinations, activities, and health considerations
- Understand Policy Details: Review what is included and excluded in the policy, such as coverage for pre-existing conditions, emergency evacuations, and specific activities
- Check Claim Procedures: Familiarize yourself with the claims process, including required documentation and reimbursement timelines
- Consider Flexibility: Opt for insurance that allows modifications or extensions to accommodate changing travel plans
- Check Customer Support Reviews: Avoid ending up with slow or unresponsive customer support by researching providers with reliable and accessible customer service during emergencies or when filing claims
SafetyWing
SafetyWing caters to digital nomads by allowing policy purchases even after departure. Coverage becomes effective immediately after a successful purchase. The signup process is almost instant with a user-friendly interface where you can obtain quotes by entering your information. SafetyWing’s Nomad Insurance includes two packages, Essential and Complete, starting at $56 for four weeks coverage.
It is suitable for both short and long-term travels. You can buy the coverage option of your choice for the full length of your trip or as an extendable monthly subscription that you can cancel at any time. It also offers coverage within the U.S. and for adventure sports as add-ons at additional costs. The claims process is straightforward and handeled through their support, with approvals typically within 10 business days and reimbursements processed shortly after.
Pros:
- Affordable monthly subscription available
- Price calculator provides accurate estimates for all coverage level
- Medical expenses during home country visits covered
- Children under 10 are covered for free under a parent’s plan
Cons:
- Routine checkups and preventive care are not included
- Estimated claim approval time is slightly longer than some competitors
Genki
Genki offers similar flexibility to SafetyWing. Despite being relatively newer to the market, it has proven to be a strong contender, offering two insurance options:
- Genki Traveler is limited to covering travel-related accidents
- Genki Native acts as a full nomad health insurance
It offers an easy online sign up process with instant quotes. Plans start around $60 per month, with variations depending on age and selected coverage options. Genki has been known for its relatively fast claim process, with responsive customer support.
Pros:
- Clear pricing with no hidden fees
- Full coverage options includes mental health support
- Flexible and responsive customer service
Cons:
- Relatively new and with fewer online reviews compared to other established providers
- Lower cost options include coverage that may be limited for adventure sports
World Nomads
World Nomads has been around a while before the previous two options. It also allows purchasing or extending policies while already abroad. The online quoting system requires extra specific details, such as destination, travel dates, and age to generate a quote, but don’t expect it to be instant or user-friendly as SafetyWing and Genki.
Premiums vary based on factors such as destination and coverage level. For instance, a 30-year-old traveler might pay approximately $207 for a four-week worldwide policy, excluding the U.S. Despite their comprehensive coverage, some users have reported challenges with the claim process, including delays and complex documentation requirements.
Pros:
- Extensive coverage, including adventure sports and high-risk activities
- Supports extending coverage while traveling
Cons:
- Higher premiums compared to the other two options
- Potential complexities with the claim process
Ready to Make a Choice?
This comparison is the first step toward making an informed decision to ensure peace of mind on your nomadic journeys. Choosing an insurance policy as a digital nomad involves balancing coverage needs, budget constraints, and the flexibility to ensure peace of mind while enjoying this lifestyle.
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