The classic 9 am to 5 pm job is becoming a hated adventure by many people. The world is changing, and the people in it are more connected than ever; henceforth, the generation of digital nomads was born.
Digital nomads are those who refuse to listen, keep dreaming, and say no to the norm of societal standards. Digital nomads are people that run businesses, or work within other fields, on their computer or phone from a remote place. This open-but-not-open door office may be overseas or a van parked in the countryside. Digital nomads are the free-spirited (work from anywhere or nowhere) surviving within corporate America.
Of course, being a nomad certainly has perks – no boss, no schedule, freedom in the purest form – but there are also some troubles that come along with the lifestyle.
Traveling often means you should literally expect the unexpected because there are many uncertainties that go along with the nomadic lifestyle.
- What if you visit a place that isn’t safe?
- What if your airline loses your luggage?
First of all, even on a budget you should try to avoid dangerous areas (check out the ten safest cities you can visit without spending a lot of money). But in general, the one thing that can provide a blanket of security for the free-spirited traveler is travel insurance.
Travel insurance is designed with the digital nomad in mind, and it can address minor hiccups or huge consequential events. But travel insurance can get a little pricey, and many digital nomads are on a budget. So the big question is:
How do you save on travel insurance?
Don’t worry. We’ve got you covered. Here are some fool-proof ways to save some cash and still keep yourself and your belongings safe while taking in all there is to offer in the world.
How Digital Nomads Can Save on Travel Insurance
Credit Card Coverage
This is a hidden secret that many people don’t know about credit cards. Many rewards cards – not just the ones for wealthy people – offer coverage for car rentals, baggage delays, and trip cancellation or interruption. If your credit card company is willing to cover these things for you, there is absolutely no need to buy travel insurance.
Be careful, though.
The trouble with credit cards is the fine print. They may claim to cover you on these unfortunate traveling incidents, but, in many cases, they don’t cover these incidences completely. In turn, your credit card gets racked up to max capacity, and before you know it, you’re in debt—a traveler’s worst nightmare.
If you choose to take advantage of the coverage while keeping your credit card balance low, make sure your card covers COMPLETELY what is needed.
Buy Annual Travel Insurance
Many people reading this so far probably assume it’s best to buy travel insurance for each individual trip; however, for the digital nomad, this strategy may not be the most affordable option. The prices for travel insurance by trip are far more costly than paying a monthly amount for coverage all year.
Buying annual travel insurance gives you one simplified policy that doesn’t change. Having annual coverage keeps you with the same company and contact number/email in times of need. It can save you much more than you think.
Know Yourself!
This is an obvious point, but a key tip when trying to save money on travel insurance is to purchase only the coverage that you need, especially when you know you’ll need to pinch some pennies while you’re on your trip. If you’re heading on a trip that’s refundable and you’re worried you may need to cancel the flight, there is no need to purchase travel insurance.
For example, the average person heading to see their family that has a long drive after the airport may want to purchase rental car insurance. But if you’re a true risk-taking digital nomad, you may prefer walking, public transit, or finding a ride, there’s no need to get rental car coverage. Plan ahead and know your tendencies while traveling.
Avoid Booking Site Travel Insurance
This is worth mentioning because whenever you’re on a booking site, it’s going to ask you to buy travel insurance. As a digital nomad, you know how often the booking sites try to sell you on more things.
The best thing to do is to avoid that travel insurance completely, and here’s why. You’re probably not going to read the fine print (like I told you to earlier). Instead, you’re going to scan it and say “Ah, looks good enough.” That’s when you’re going to be out of luck and paying more for the insurance than the actual trip.
“Cancel for Any Reason”
This is a quote you nomads have seen often. Many of you may assume you need this option. But actually, it’s just an upgrade. Since this is an upgrade, that means it comes with extra cost that is going to empty your pockets. Most options provided with travel insurance will include canceling your flight or trip “for any reason” including a hurricane or terrorist attack. If you’re going somewhere and know these extreme cases aren’t likely to happen, you don’t need the upgrade.
Conclusion
Being a digital nomad is a freeing experience. It allows you to live the life you always dreamed of while pursuing a career that is sustainable. Many people even make more money online than they did at their 9 to 5 jobs. If you’re searching for more purpose and don’t enjoy being stuck in the spiral that is day-to-day living, the nomad life could be for you.
Before you veteran digital nomads head out on your next adventure, go through your travel insurance and make sure you aren’t overpaying for anything unnecessary or out-of-the-ordinary scenarios that likely don’t apply. Check with your credit card company and see if they cover anything for free. There are loads of options that can save you money to take you on another journey.
If you’re thinking of starting a new life and traveling while working from your computer, the joy of life is free. It is rewarding and awe-inspiring. Perhaps this change is what you need.
Hope you enjoyed this post on how digital nomads can save on travel insurance, and let us know your thoughts in the comments below!
