Travel insurance is one of those things often overlooked by most travelers. It just seems like one more thing to make an expensive trip cost even more. While this is partly true, travel insurance is actually surprisingly affordable and might possibly save you more than money one day. One of our writers had an experience where he feels travel insurance saved his life as well.
Because of his experience, we thought it would be useful to give you an idea just how simple and cheap buying travel insurance can be.
Comparing Travel Insurance Companies
While writing this article, we researched a number of travel insurances including Travel Guard, Travel Insured International, Travel Safe, and World Nomads. We got quotes from all four companies for a three month trip to Thailand for a 33-year-old with a permanent residence in America. We compared the highest coverage from each insurance company to try and get the most level playing field and ensure we were comparing apples to apples.
Some of the companies had a coverage amount slightly higher than others. For example, Travel Insured and Travel Safe had a medical evacuation coverage amount of $1,000,000 while World Nomads only covered up to $500,000. In truth, we felt all four companies provided more than adequate coverage for the most common medical scenarios. Not many emergency evacuations cost more than $500,000.
There were also other aspects like trip cancelation and baggage where there were minor coverage differences. For example, World Nomads Explorer package covered up to $10,000 in trip cancellation and $3,000 in baggage or personal effects. Travel Safe and Travel Guard covered 100% of the trip cost in case of cancelation and $2,500 in baggage and personal effects. Travel Insured also covered 100% of the trip cost in case of cancelation but only $1,000 in baggage and personal effects. Once again, we felt that overall each travel insurance company provided more than adequate coverage for most scenarios.
Because all of the companies researched provided adequate coverage for each scenario, the choice came down to cost and reputation. World Nomads was by far the cheapest option. Following are the quotes we received from each company:
World Nomads – $295
Travel Safe – $814
Travel Insured – $1,055
Travel Guard – $858
As you can see there was quite a difference in the price point for World Nomads and the rest of the insurance providers. World Nomads also has a great reputation for handling medical emergencies timely and paying out on claims. Lonely Planet also recommends World Nomads as the best travel insurance on the market.
Check out this article by Dale Cody where he relays his experience with World Nomads and how they acted quickly to handle payment for his medical emergency without the slightest hesitation. Because of his experience along with a number of others around the world who have reviewed the service provided to them by World Nomads, we highly recommend them as your best choice for travel insurance.
World Nomads Travel Insurance Coverage Choices
When it comes down to coverage choices you basically have two options; the Standard or the Explorer package. The Explorer package covers more adventure activities including things like rock climbing, base jumping, and scuba diving. It gives you a higher level of coverage in areas like emergency med-evac, trip cancelation, and baggage. It also includes coverage for things the Standard package doesn’t such as collision and a number of extreme sports. The following chart shows the coverage of the Standard and the Explorer packages. The Explorer is in blue.
For the average person, the Standard package is usually sufficient, but if you are an active person with an interest in adventure or extreme sports, the Explorer package is probably your best bet. The additional cost is pretty negligible and the expanded coverage will protect in you in just about every scenario imaginable.
Buying Your Travel Insurance
Getting a quote from World Nomads is easy and anonymous. You don’t have to worry about filling in your private information or being hassled by pushy salespeople. Below you can see the simple form you need to fill out to receive your free quote. No personal information is required until you choose to purchase. You can run a few different scenarios until you find the one that is right for you. After you are done you can purchase directly through their website.
That’s it! You are done and ready to travel. Time to enjoy your trip.