Is it worth buying travel insurance before traveling around the world?
What is it really, and what can it protect you from during fascinating adventures in the farthest corners of the world? Or maybe you are a digital nomad and want to live in a beautiful, exotic place?
Read this blog post to the end, and you’ll find out what insurance I use, what its conditions are, and in what situations it may be useful.
Table of Contents
What is Travel Insurance, and What Does It Provide?
Travel insurance is my protection when traveling.
Having appropriate insurance protects me against medical costs in the event of an accident or illness, as well as costs resulting from flight delays and theft of electronics or equipment I travel with.
Since I also work remotely while traveling, I have a laptop, and camera with me, which I would not like to lose.
If I need medical help or go to the hospital during my trip, the insurance company will cover all the costs, giving me peace of mind. I don’t have to stress about a high bill.
Remember that in some countries, the costs of treatment are very high. If you do not have a policy with a high sum insured, you must cover all costs yourself (doctor’s care, medical transport, hospital stay, or medications).
Reiek Trek, Mizoram, India
What Insurance Do I Use When Traveling Around the World?
When traveling around the world, I always have an insurance policy. Having done a lot of research, I chose SafetyWing Nomad insurance.
This is an absolute necessity for me! This gives me complete peace and mental comfort. I know that in the event of an unplanned event or accident, I am fully protected.
Fortunately, I didn’t have a chance to use it. However, it provides me with psychological comfort and the knowledge that in case of problems, I am covered by solid insurance that I can rely on. Below you will find the current insurance conditions:
- Guaranteed sum insured: $250,000
- Own contribution: $250 (paid only once during the annual insurance period)
- Emergency dental treatment: up to $1,000
- Lost checked baggage: up to $3,000
- Civil liability: up to $25,000
- Medical transport: up to $100,000
What is SafetyWing?
SafetyWing is a new travel medical insurance provider that launched in 2018. Based in California, this Norwegian start-up is entirely remote and specializes in providing coverage for low-cost travelers and digital nomads; however, you don’t have to be either to be covered.
Run by expats and nomads, they are well aware of the needs of travelers of this nature. You can purchase a policy even if your trip has already started. You can pause and resume coverage with flexibility. 185 countries are covered, and you don’t need to inform them about your itinerary in advance.
SafetyWing offers budget-friendly basic insurance plans (called “Nomad Insurance”) for a fraction of what other companies charge for almost similar coverage. In my opinion, they are the best travel insurance company available on the market.
SafetyWing Nomad Insurance 2.0 – Everything You Need to Know!
What Changes Were Introduced in Version 2.0?
- Extreme sports: The insurance covers over 30 extreme sports, such as diving, boxing, and quad riding.
- Electronics theft: If stolen, you will be reimbursed up to $1,000 for each item (laptop, phone, camera, or other electronic devices).
- The procedure for reporting damage has been simplified, and the waiting time for decisions has been significantly shortened.
The above changes in the insurance offered mean that the offer is more tailored to my travel preferences and the way I travel around the world.
In What Situations Can an Insurance Policy Be Useful?
They say that accidents happen to people, but fortunately, they pass me by. However, I prefer to “play it safe” and always be prepared and equipped with decent insurance. One that will provide me with the necessary financial assistance in the event of an accident or natural disaster (I often visit at-risk regions).
How to File a Claim?
Using SafetyWing’s website, submitting a claim is simple.
All you have to do is upload the necessary documents, screenshots, and images, then wait for a response.
The majority of claims are processed in less than a week, while they can take up to 45 working days. As of 2024, SafetyWing’s average claim handling time is just four days.
That’s much faster than most companies!
You must file a claim within 60 days of your insurance expiration date. In some cases, you may need to let them know in advance so that they can make the necessary arrangements (such as for “Emergency transportation to a better equipped hospital”).
If you are hospitalized, you must notify them as soon as possible, at least before discharge. You may submit your claim as follows:
- Pay yourself and submit a claim for reimbursement on the SafetyWing website, or email claims@safetywing.com.
- Reach out to their 24/7 assistance so that they can arrange for the payment. This option is not available for all types of claims.
Do I Recommend SafetyWing Travel Insurance?
I definitely recommend SafetyWing travel insurance. For me, the biggest negative factor was the $250 deductible, which was eliminated last year.
Other positive points of this insurance, in my opinion, are:
- Excellent cost-benefit ratio
- Coverage limit of up to $250,000 for medical care, hospitalization, and ambulance services
- Coverage in over 180 countries worldwide, allowing for flexible itineraries (an extra fee is charged only if you travel to the United States)
- Easy automatic renewal, which is great for people who do not know their travel end date
- Covers both flexible trips and planned trips, regardless of duration
- Covers baggage delays up to $500 per item (total maximum coverage is $3,000)
- Provides food and accommodation for flight delays over 12 hours (limited to a maximum of $100 per day, for up to two days)
- Covers various adventure sports for an additional $10 per month
- Covers even electronics theft, also for an extra $10 per month
I recommend carefully reading the coverage to ensure it aligns with your needs. For example, SafetyWing insurance does not cover professional or high-risk sports activities, pre-existing conditions, cancer treatment, or trips canceled before departure.
You can get a quote for free using the booking widget below.
Do you have any questions about the SafetyWing policy or travel insurance in general?
Don’t know how to choose the offer that best suits your travel style?
Do you have doubts?
Write a comment below, and I will try to help and advise you.
Thanks for reading this article. 💚
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Keep hustling!
Keep traveling.
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