As with all decisions I am coming to terms with as we prepare for our overseas adventure, the travel insurance decision is a biggy. Not whether we’re going to have travel insurance or not, I think anyone who travels nomadically like we will be, and doesn’t have insurance is crazy. And given we’ll be travelling with our two-year-old boy, it’s a no-brainer.
So the big question is…which company do we go with?
To make life easier for myself, and hopefully you as well, I’ve created this table below of the insurance companies that populate the first page when Googling ‘backpacker travel insurance’.
However, we did not include Columbus Direct because when trying to get a quote it didn’t show us what we were covered for and for how much. It was insanely frustrating trying to find the coverage schedule on their website. Columbus Direct, lift your game!
Nor did we get a quote from Travel Insurance Direct. They ask you to include every country you’ll be travelling to…how the hell should I know! I’ve got a vague idea, but the whole point is to go wherever we want, whenever we want (within reason).
So here’s the table I created using my very limited Mac Numbers programming skills (not a bad effort for a first go if I do say so myself)…
These prices are obviously for two adults and a child. During our first 12-months we will be travelling in South-East Asia, the Middle East and Europe. There’s so much to see and experience, and we have to work to make ends meet meaning we’ll be stopping in places for extended periods of time. So the coverage in the table above caters for travel in these areas of the world.
Here are the links to the four companies displayed in the table above.
itrek Travel Insurance – (Platinum cover Worldwide (All Destinations) – with a $100 excess on claims). They didn’t offer an insurance policy for the specific destinations we are heading during our first 12-months.
World Nomads – (Explorer cover – Most of the world – excluding travel in USA, Canada, Antarctica, the Arctic, Greenland & Australia – with a $100 excess on some claims).
1 Cover Travel Insurance – (Plan A Comprehensive cover Worldwide (All Destinations) – with a $100 excess on claims). They didn’t offer an insurance policy for the specific destinations we are heading during our first 12-months.
Cover More Travel Insurance – (Essentials Plan TI Europe, Asia and the Middle East – with a $250 excess)
So the big question, which insurer did we go for? Drum roll please (brbrbrbrbbrbrbrbbrbrbbrbrbbbrbrbrbrbrbrbr…xshxshxsh – I know, terrible effort to type a drum roll, right!)
Let me explain why.
It was a tight run race with the other two providers, but there were a couple of things that go us over the line.
*The schedule items in green are important to us, but each cover is different. The items in yellow are important to us but equal between all providers. However, these may not be the most important to you, so alter the colour code and go through the same process to calculate the best score for your needs.
It’s important to explain at this point that I eliminated Cover More Travel Insurance from the equation. I mean look at them, they’re cover is terrible right across the board and they’re the most expensive. I’m surprised they’re still in business!
2. From reading loads of travel blogs out there World Nomads is clearly the insurance provider most people talk about and recommend. And there’s no better recommendation than peer recommendation.
3. World Nomads covers return flights home and resumption of journey costs should a close relative gets sick or dies. Sarah has a grandfather who is quite old and if the unthinkable happens and he dies while we’re away, her flights home and back will be covered. The other two also provide this sort of cover, but there is an age limit which you should be wary of should you have elderly grandparents. World Nomads does not have an age limit. It’s cover we hope we’ll never have to use, but at least it gives us peace of mind.
4. When it came to the really important items covered, such as theft or damage to belongings, delays to belongings, and delay expenses, World Nomads came out on top.
There you have it, my extensive research has led me to World Nomads. The prices are virtually the same among the three insurance providers, but peer recommendations and flight home cover got them across the line. However, once we’re in North, Central and South America the insurance policy costs change (see table below), which means we’ll have to rethink our insurance strategy.
I strongly suggest you click on the links, input the relevant information for you and your family, and the specifics of your adventure and choose the right insurance policy for your needs.
I think both itrek Travel Insurance and 1 Cover Travel Insurance are excellent options, and we could quite easily have gone with them for the first leg of our adventure. When we enter the second leg of our adventure (North, Central and South America), we will reassess which policy is right for us.
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If you are planning a worldwide trip and want to know the cost comparison between the insurance companies outlined above, here is a table outlining overall coverage:
Do you use a different travel insurance provider? Who do you choose? Why? We’d love to hear your thoughts, leave a comment below…