5 Things to Consider When Buying Digital Nomad Insurance

Last Updated on 22 April 2024 by Brittany

Your computer is open in front of you with a list of things you have to do today, but you know you arenโ€™t going to get to them. Youโ€™re battling a runny nose and try to calm a throbbing headache.

Youโ€™re getting sick. 

Nobody likes getting sick, especially when theyโ€™re abroad and alone. This is why itโ€™s important to have digital nomad insurance.

While you may be living a different type of lifestyle, itโ€™s still important to take care of yourself and your health. You may not have a primary doctor, but with health insurance, you can feel confident that you can see a doctor when you need to, wherever you are. 

Digital nomad health insurance isnโ€™t your typical insurance. It offers global coverage, so you can receive medical help wherever you are in the world. However, there are some important factors to consider when buying digital nomad insurance.ย 

buying digital nomad insurance
via Unsplash

Why Get Digital Nomad Insurance?

Whether your home country has universal healthcare or itโ€™s dependent on your career, as a digital nomad itโ€™s important to find global health insurance. While your insurance may fully cover your medical needs in your own country, there is no guarantee that it will cover you halfway across the world. 

Youโ€™re probably thinking, โ€œIโ€™m young and healthy. Nothing is going to happen!โ€ Itโ€™s always better to be safe than sorry when it comes to your health. When you pay for health insurance, youโ€™re putting your mind at ease and investing in staying healthy. You never know when you may come down with a serious illness or have an unforeseeable accident. 

Not only will you have peace of mind about your health while living abroad, but your out-of-pocket costs will greatly decrease. So, when youโ€™re considering whether or not to buy digital nomad insurance, we definitely recommend that you do. 

What to Consider When Buying Digital Nomad Health Insurance

Let’s face it; buying any type of insurance can be daunting. Between learning new terms and fully understand what the insurance will cover, many digital nomads forego buying digital nomad health insurance.

To help make your search when buying digital nomad health insurance easier, you should consider the following.

Premiums

When browsing digital nomad insurance plans, youโ€™ll first notice the premium price. A premium is what you pay upfront for your coverage. This could be billed monthly or annually. 

Many people will immediately shy away from high premiums without reading about the plan further. Donโ€™t disregard a health insurance plan just because the premium seems too high. Depending on the coverage and deductible, it may be worth paying the extra money.ย 

digital nomad insurance
via Unsplash

Deductibles

A deductible is the amount of money you are responsible for when you seek medical care. This includes copays, coinsurance, and any other medical-related costs. These out-of-pocket costs are going to help you weigh your decision on which digital nomad insurance plan to go with. 

For example, if your deductible is $5,000 for the year but your premium is $100 per month, you could end up spending a total of $6,200 on medical care in just one year. 

Sometimes paying a higher premium is worth having a lower deductible because you are responsible for a lesser amount when it comes to receiving medical care.ย 

Preexisting Conditions

If you have a preexisting condition, this may influence your decision on which digital nomad insurance plan to buy. You know which services and type of care youโ€™ll need the most. So, make sure whichever plan you buy has the coverage you need. 

While itโ€™s tempting to go with the lowest price possible, think about what you need to stay healthy. Itโ€™s worth it to pay a little extra in order to stay healthy.ย 

Prescription Medications

While most digital nomad insurance plans do cover prescription medications, itโ€™s always a good idea to double-check. Whether you are currently prescribed medication or may need a short-term prescription, youโ€™ll want to make sure itโ€™s covered.ย 

buying digital nomad insurance
via Unsplash

Coverage Restrictions

In a perfect world, all of your medical needs would be covered by your health insurance. Unfortunately, many plans have restrictions on what they do and do not cover. 

For example, a motorbike accident in Thailand may not be covered if you do not have the proper license for driving. 

Before buying your digital nomad insurance, read the fine print closely. Itโ€™s important to know what is covered, what isnโ€™t covered, and restrictions of coverage. Donโ€™t assume that every insurance plan is the same.ย 

Compare Insurance Plans

You may feel overwhelmed when first looking to buy health insurance. Itโ€™s important to research plans thoroughly. Donโ€™t be afraid to ask questions or get in contact with a representative. Gather as much information as possible! 

Once youโ€™ve found a few options to consider, compare them to each other. Weigh the benefits of each. This will help you decide which plan is right for you.ย 

buying digital nomad insurance
via Unsplash

The Difference Between Travel and Health Insurance

Now you may be wondering, what is the difference between travel insurance and health insurance as a digital nomad?ย 

To begin, travel insurance offers coverage of travel-related mishaps such as delayed flights and lost luggage. Itโ€™s meant for short-term coverage for vacations. While most of these plans do offer coverage of health-related expenses, itโ€™s mostly for emergencies and accidents. 

Health insurance for digital nomads is just like your normal health insurance, which covers routine doctor visits, prescription medication coverage, and more, but it works in different countries. Some plans do include coverage of travel-related mishaps such as lost luggage or stolen property. 

With millions of digital nomads out in the world, more and more insurance plans are popping up. But, how do you find the one that’s right for you?

Where to Find Digital Nomad Insurance

Shopping for any type of insurance is overwhelming and confusing, especially when it’s digital nomad insurance. Because it’s still such a new topic and trend, it’s difficult to compare plans and know which one is right for you.

Fortunately, Nomads Embassy makes it easy to find the right digital nomad insurance for your needs! We’re partnering with reputable and trusted insurance companies that provide global health and even travel coverage for our members.

We even covered the topic of digital nomad insurance even more in our online course, How to Become a Digital Nomad in 2021 to help you decide on a policy that’s right for you.

Frequently Asked Questions

What factors should digital nomads consider when choosing a health insurance deductible?

Consider your general health, how often you seek medical care, and your financial situation to balance between lower premiums and higher out-of-pocket costs.

How do digital nomad insurance plans accommodate for preexisting conditions?

Many plans have specific clauses about preexisting conditions, with some offering limited coverage after a waiting period.

Are there any geographical limitations to where digital nomad insurance plans provide coverage?

Insurance coverage may vary by location, with some areas or activities excluded; always check the specifics of your plan. For example, if you plan to visit the United States or Canada, you may have a higher monthly premium.

How do digital nomad insurance plans handle emergency medical evacuations?

Look for plans that specifically cover evacuations, which is crucial for remote or high-risk areas. Most digital nomad health insurance policies offer medical evacuations, but only for certain situations.

Can digital nomads upgrade or change their insurance plans if their needs change?

Flexibility varies by provider; some allow changes during renewal periods or under certain conditions. Many digital nomad insurance companies offer month-to-month coverage which you can cancel anytime for ultimate flexibility.

Brittany
Content created by
Brittany
When Iโ€™m not writing and teaching people how to achieve a location-independent lifestyle, you can find me globetrotting, experiencing new cultures, and working on my amateur photography skills.
At Nomads Embassy, we independently test and review digital nomad services and provide detailed insights on digital nomad visa applications and requirements using a detailed, multi-step methodology. When you use our affiliate links to make a purchase, we may earn a commission. Learn more about our editorial process and read our full disclosure.
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