This blog entry is a guest post from our friends at SafetyWing. SafetyWing offers travel insurance that I use when I’m travelling abroad.
I never travel without insurance, and neither should you. So, that’s why our friends at SafeyWing wrote this guest post to help you decide between their travel insurance or your credit cards.
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When heading off on an adventure around the world, travel insurance is one of those things that are top of anyone’s to-do list. Out of habit, travellers quickly rely on their credit cards for insurance, usually thanks to its convenience.
With the ever-changing landscape of travelling, alternatives to credit card travel insurance are aplenty, and SafetyWing’s Nomad Insurance happens to be one catering its services to digital nomads and frequent travellers. Since the pandemic started, many countries worldwide have implemented specific travel insurance requirements that you have to check your policies for. Otherwise, you might not be allowed to enter.
Here are a few things to consider when choosing your travel insurance, and how SafetyWing differs from your traditional credit card policy.
What to consider when choosing travel insurance
Policy duration limits
Nomadic lifestyle brings a lot of uncertainty with it, which is why a travel insurance policy that caters to a flexible lifestyle is key.
Traditionally, most credit cards offer a maximum limit on how long you can be covered during your travels. For example, you may only be covered by your policy for 70 days at a time, and this may even be capped to a maximum of six months of coverage during one entire year. For those who are planning to spend long periods of time abroad, this won’t be enough.
On the other end of the scale, SafetyWing’s Nomad Insurance recognizes that frequent travellers need the flexibility of consistent cover, especially for those constantly on the move. It can even be used as a subscription.
If you sign-up for automatic monthly renewal, the coverage automatically extends every four weeks, until you cancel, or for a maximum of 364 days. Once those 364 days are up, you can re-purchase new coverage right away.
Covid-19 and quarantine coverage
After the world was turned upside down by Covid-19, all aspects of travel and travel insurance began to face new problems. In the fallout of the pandemic, traditional travel insurers, including some credit card companies, chose to limit cover for travel interruptions caused by the pandemic.
Before you travel anywhere, no matter how relaxed the entry requirements and restrictions against Covid-19 are in that country, make sure you’re covered. Restrictions tend to change rapidly and without prior announcement, so it’s good to have coverage for unexpected quarantine.
If you already have a travel insurance policy, check if it has Covid-19 coverage. Nomad Insurance, apart from treating Covid-19 just like any other illness, has coverage for unexpected quarantine. It’s automatically included in your policy when you sign up.
With the future of travel and the pandemic still uncertain, the reassurance that you are covered for this makes a whole world of difference.
Understanding the small print
When it comes to travel insurance from credit card providers, it’s becoming increasingly difficult to understand what you are actually covered for. The main reason for this is the credit card provider is a middle-man and you’re not always dealing directly with the travel insurance provider itself. Unfortunately, not fully understanding what you are covered for leaves you vulnerable to paying out for situations you didn’t expect to.
With most travel insurance options, you can see exactly what you’re covered for in one neat document. Plus, if you’re ever unsure, the customer service team is always on hand to answer your questions.
It’s also likely you’ll have more comprehensive coverage through travel insurance. For example, Nomad Insurance provides coverage for unexpected illness or injury, including eligible expenses for hospital, doctor or prescription drugs. One of SafetyWing’s most popular features is its emergency travel-related benefits, such as emergency medical evacuation, bedside visits, travel delays and lost checked luggage.
Quality and availability of customer service
As we mentioned above, when you rely on credit card insurance, you’re not always dealing with the insurance company itself, making communication a tricky matter. It’s not always clear who you should contact in an emergency, or how.
As a team of nomads and frequent travellers, SafetyWing knows firsthand how important it is to have helpful and friendly customer service available around the clock. They are online 24/7 and usually respond within minutes.
This round-the-clock customer service is there to ensure customers feel safe and secure no matter where they might travel, knowing that there is a professional and knowledgeable provider only one call away. Additionally, SafetyWing’s customers can get help in setting up direct billing with the hospitals so that customers don’t have to worry about parting with money during or after their care.
Designed by digital nomads for digital nomads
As its name suggests, SafetyWing’s Nomad Insurance has been designed with digital nomads and remote workers in mind. Their community is expecting products that are easy to use and flexible.
SafetyWing’s travel insurance policies have numerous features that make them extremely popular and suitable for nomads. As a traveller, you may be constantly on the move and have to keep on top of everything; as Safteywing’s insurance cover is a subscription model, the cover simply renews itself, ensuring you’re never caught out.
Alongside this, you can purchase the cover even if you are already outside of your home country – a feature that is rarely found with credit card travel insurance providers. Unlike many insurance providers, after being abroad for 90 days, you can keep your medical coverage for 30 days in your home country too. They don’t even need to know exactly where you’re traveling – you’re simply covered worldwide (with the exception of Iran, North Korea, Cuba and Syria).
Nomadic travellers travelling with children will also be pleased to know that up to two children under 10 years per family (one per adult) can be included in your insurance policy without any added cost.
Eligibility and payment options
Payment options can also make all the difference when choosing between SafetyWing and your credit card insurance. With the majority of credit card travel insurance providers, there is often a requirement to use the card in a specific way in order to be covered on your travels, and this can be very restrictive.
With SafetyWing’s Nomad Insurance, your eligibility for the insurance has nothing to do with how your pay for your trip; simply sign up for the travel insurance separately.
You also have several different payment options: for those who want to pay upfront, you can simply pay for the cover outright. You can also choose how many days you want to pay for, with a minimum of 5 and a maximum of 364, along with the subscription model we mentioned already.
Final Thoughts
Choosing the right travel insurance for you and your travel needs all comes down to weighing up the pros and the cons of several policies. While credit card travel insurance may be a more convenient option, it doesn’t always cover everything you might need. On the other hand, SafetyWing’s flexible, transparent and inclusive policies are designed for the avid wanderer, regular traveller or remote worker who needs a little more give in their travel insurance.
