digital nomads

Digital Nomads are a group of self-employed individuals who have chosen to live a location-independent, technology-enabled lifestyle that allows them to travel and work from anywhere in the globe. As technology keeps on evolving, occupations openings for digital works, and a rise in co-living or coworking spaces, Digital Nomads are starting to become a trend. According to the statistics, there are 10.9 million nomads in the U.S alone, and it only continues to increase.

“The world is my office” – said Chat Wyatt, on his guidebook for Digital Nomads. 

Having the world as your office cannot be more attractive than it already is. There is no limit to becoming a Digital Nomad since they come from all over the world, representing every age group or gender. Nevertheless, they all share one thing in common: freedom. This freedom indeed is their passion for adventure or love for travel. However, it doesn’t mean you can forget one of the most essential things in life, like insurance coverage. When moving away from your comfort zone, any accident or unexpected events could be just around the corner.

The importance of insurance for Digital Nomads

As a Digital Nomad, you have to be prepared for all unexpected circumstances. Other than the availability of internet connection for work, Digital Nomads have to prioritize their safety first. Being in a foreign-countries with a different health care system from your hometown will not be easy. You will have to be responsible for your health and safety while being exposed to the risk of being away from home. 

The biggest reason to have insurance as Digital Nomads is indeed the ability of insurance to help you avoid extreme financial losses caused by whatever events that could occur in your trip before, during, and after. By having insurance, you will be able to travel and work with peace of mind in whatever country you are going to or are in.

So Expatriate Insurance or Travel Insurance?

You may be wondering which type of insurance is the best for you if you are traveling for work in a different country. The answer will depend on how long you are planning to live abroad and if you will be moving into foreign countries a lot. 

Travel insurance is the type of insurance that will cover you for only a short period, such as a year or less than a year. It can also only be used in limited countries and for emergency claims only. In general, travel insurance cover travel disruptions such as; delayed flights, loss of luggage, or natural disasters affecting your trip. The downside of using the travel insurance alone is that it will repatriate you only in your home country and once you landed, the travel insurance won’t cover any expenses at all. Take notes that when traveling with travel insurance, you are still registered under your home country’s social security system as well as your private local insurance. There is a false idea that when you travel if something happens your home country’s insurance will cover you immediately when you are back home. However, this is often not always the case. If you were to leave your home country for more than 12 months and are not paying your taxes there, you won’t be covered. For this reason, travel insurance will not cover much and you will need to take expatriate insurance that will cover you when you go back to your home country.

Expatriate insurance or international insurance is specifically designed for people who are working or living abroad, just like Digital Nomads. Expatriate insurance offers more than 12 months of coverage and the most comprehensive type of health cover you can buy when you are abroad. Additionally, it should cover any hospital stays, consultation expenses, and even health treatment, depending on the policy you have chosen. If you only have inpatient coverage in your expatriate insurance, only hospitalization fees will be paid by your contract and depending on your wordings, up to 90 days for follow-up outpatient treatments linked to your hospitalization. In this case, you also choose the outpatient benefits, general or specialist consultation, prescription drugs, and medical testing are covered by your healthcare plan.  

The above benefits are something that travel insurance cannot do. Expatriate insurance also comes with more additional services depending on what policy you choose, which you can discuss with your insurer. As for Digital Nomads, Expatriate insurance is the ideal type of policy for long-term nomads or those who do not plan to return home soon. One disadvantage of international insurance is that they do not cover travel disruptions. 

Benefits of being Digital Nomads

Being able to work whenever and wherever is the most significant benefit of being a Digital Nomad. You can find yourself working with the beach view or even at a cute café in Bali. You are essentially in control of your office hours and have the freedom to be wherever you are in the world. When you have the freedom to travel to many places globally, as a Digital Nomad, you will encounter incredible people. People with unique cultures that you can learn from or even become good friends with. In addition, you may even build a connection for business opportunities. Being a Digital Nomad opens up the door for you to experience the things in life that you could never imagine. You don’t only move around from one country to another, but as you are experiencing all these new cultures and meeting new people in your life, you are also growing as a person. It allows you to have a unique perspective in life from these experiences that you would have never imagine.

Despite the great things in the world, however, there will always be challenges that need to be faced no matter what type of work you are doing, even for Digital Nomads. All people are different. Therefore, the nomadic life may or may not fit everyone.  

Offering the best quality of protection and convenience while you travel, Aexpat insurance promised to put your health and safety as our priority. We will surely guide you to choose the best policy and give the most suitable accommodation for any specific needs that you might have. No matter where you are in the world or for how long, we will make sure that your health and safety will always be covered.   

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