SafetyWing Nomad Insurance previously had a $250 annual deductible. The company announced that as of March 2024, Nomad Insurance has no deductible for non-US residents.
This is welcoming news to budget backpackers and digital nomads to help them manage and predict their expenses more accurately.
However, with the removal of the $250 deductible, SafetyWing increased the premiums for Nomad Insurance from $46.50 to $56.28 for ages 18 to 39 years for four weeks of coverage, representing a 21% increase.
Keep in mind that Nomad Insurance is different than Nomad Health, which is a more comprehensive and expensive plan for remote workers.
Why the Removal of the Deductible for Nomad Insurance?
I believe there were two reasons SafetyWing removed the deductible for its lowest-cost insurance plan:
First, customers didn’t like the deductible, to begin with, and many travelers probably avoided Nomad Insurance because of it.
I can also see younger travelers not understanding the concept of a deductible until they have to file a claim — with a surprise.
I quickly checked SafetyWing reviews on Trustpilot and noticed some travelers did not realize there was a $250 deductible. From a claims and customer service perspective, it’s easier to increase the premium and put a $0 deductible on insurance policies.
Furthermore, SafetyWing’s main competitors, World Nomads, Heymondo, and Genki, already have plans that are comparable to Nomad Insurance without a deductible.
Finals Thoughts
Removing the $250 for Nomad Insurance aligns SafetyWing’s travel insurance product with its competitors and meets the demands of backpackers and digital nomads.
Furthermore, this helps avoid negative reviews against SafetyWing on review platforms such as Trustpilot and negative publicity on social media channels.
As a reminder, the $250 deductible is still applicable to US residents but is expected to change in the future.
Hola Parceros,
I’m the founder of Aperlust. I enjoy web development and SEO and am into snowboarding and linguistics. In my spare time, you can find me destroying my opponents in chess across the globe.
