Genki vs SafetyWing: Best Insurance For Nomads
Remote worker, bikepacker or early retiree? The best insurance may be different.
We spent 2023 travelling across Asia, the Middle East and Europe meeting a variety of nomads.
To assess which policy is the best we came up with five traveller profiles: Remote Worker/Entrepreneurs, Gap Year Adventurers, Family Nomad Travellers, Long-Term Bikepackers and Retiree Travellers.
In this article, we aim to guide you through this often-overlooked aspect of long-term travel, helping you make the best choice for your own adventures.
KEY TAKEAWAYS
- Why A Travel Insurance for Nomads? Traditional travel insurance is often not suitable for digital nomads because they do not cover for over 3-months period, and excludes anything that is not an accident or an emergency.
- There are three companies that stand out. Genki, SafetyWing and World Nomads. Genki and SafetyWing have a shorter track record but better reputation, based on recent reviews. World Nomads doesn’t cover EU Residents.
- Genki and SafetyWing are the most competitive. Genki, if you’re travelling to the U.S. and SafetyWing if you’re in your 30s.
- Your Travel Needs Matter. If You Intend to come back home, avoid World Nomads. Do you have pre-conditions? Genki Is the best choice.
- Overall The Cheapest is Genki unless you travel with a family, or if you care about outside health coverage.
Here is the full analysis
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What is a Travel insurance for Nomads?
Who is it for?
Anyone looking to travel above 3 months
A travel insurance for nomads is a type of global insurance tailored for individuals who are continually on the move, especially those working or living abroad temporarily. It provides medical coverage outside the insured’s home country, ensuring they have access to healthcare during their travels. It’s suitable for:
- Long-term travellers
- Digital nomads and remote workers
- Expatriates
How does it compare with a typical travel insurance?
Think of it like a normal insurance but while on the move
A travel insurance for nomads is designed for long-term travellers and offers comprehensive worldwide coverage, including routine medical care and extensive evacuation services.
Key features like coverage for professional activities and trip cancellation vary by policy. On the other hand, Short-Term Travel Insurance is tailored for trips up to 3-months long, providing destination-specific coverage. It typically includes trip cancellation, baggage loss, and emergency medical care, but lacks routine medical coverage and professional activities protection. Nomad insurance may offer home country coverage.
Health Insurance for Nomads vs Normal Travel Insurance
| FEATURE | Travel Insurance For Nomads | Short-Term Travel Insurance |
|---|---|---|
| Home Country Coverage | Limited | ❌ |
| Duration | Up to 1 year | Up to 90 days |
| Renewability | ✅ | ❌ |
| Routine Medical Coverage | ✅ | ❌ |
| Emergency Medical Coverage | ✅ | ✅ |
| Coverage Areas | Varies | Varies |
| Trip Cancellation | 🔵 | ✅ |
| Baggage and Personal Effects Loss | 🔵 | ✅ |
| Repatriation | ✅ (comprehensive) | ✅ (more limited) |
| Professional Activities Coverage | 🔵 | ❌ |
Leading affordable travel insurance companies for nomads
Which are the leading companies?
World Nomads, SafetyWing & Genki
Today, there are about seven relatively known travel insurances for nomads. Our analysis focuses on the three leaders – World Nomads, SafetyWing and Genki, because they are among the most popular and have innovative offerings.
Genki, founded in 2021, is based in the Germany and collaborates with Dr Walter and Allianz. SafetyWing, started four years earlier, is associated with Japanese Insurer Tokyo Marine. Meanwhile, World Nomads, established on 2002 in Australia, partners with different insurance companies depending on the traveller’s country of origin.
Nomad Health Insurance vs Normal Travel Insurance
| Provider | Inception Date | Headquarters | Insurance Partner |
|---|---|---|---|
| Genki | 2021 | Germany | Dr-Walter and Allianz |
| SafetyWing | 2017 | USA, Norway | SafetyWing Insurance |
| World Nomads | 2002 | Australia | Depends on the country |
Who is eligible?
Most Countries, But For World Nomads EU Countries are excluded
For all insurers, you’re covered unless you’re in your late 60s. They provide worldwide coverage except US Sanctioned countries for SafetyWing although for World Nomads there are limitations based on your residency. The waiting period – defined as time before you can claim – is longer for Genki. The most important distinction is your current residency. If you choose World Nomads, you need to reside outside the EU.
Genki, safetywing and world nomads Eligibility
| Insurance | Client Country Eligibility | Excluded Coverage | Age Limit | Waiting Period |
|---|---|---|---|---|
| Genki | All Countries | None | 69 years old | 14 days (emergency are covered) ¹ |
| SafetyWing | All Countries except US-sanctioned countries ³ | US Sanctioned countries ² | 69 Years old | None |
| World Nomads | Several countries including USA, Canada, Australia, Japan, Taiwan, Brazil ³ | - ⁵ | 64 Years old | None |
² Syria, South Korea, Cuba and Iran at the time of the article.
³ World Nomads calculator did not provide coverage for residents in the EU.
⁴ Coverage can change based on your residency country. Information here applies to UK and Ireland residents
Which insurance is the cheapest?
Genki, especially if you're travelling to the U.S.
SafetyWing if you're in your 30s.
Each plan shows a different approach to pricing based on age, with Genki increasing gradually, SafetyWing and World Nomads remain constant for younger ages before a significant increase in the 40s. If you plan to spend time in the US, Genki is more interesting, as they include 42 days of coverage for each 6-month period. For the other insurers, you need to include U.S. as an add-on with additional fee – not included in the simulation below.
Below are simulations of Standard Policies as of January 2024.
Genki (Standard Policy For EU/UK Residents):
- Offers the most age-sensitive pricing, starting at €39 for individuals in their 20s.
- The cost increases with age: €54 for the 30s, €60 for the 40s, and €78 for the 50s.
SafetyWing (Standard Policy For EU/UK Residents):
- Charges a consistent rate of $45.08 for both the 20s and 30s age groups.
- The rate rises to $73.92 for those in their 40s and up to $115.92 for travellers in their 50s.
- SafetyWings allows two children below 10 for free for each adult.
World Nomads (Standard Policy For UK Residents):
- Has a flat rate of £47 for the 20s and 30s age brackets.
- The cost jumps to £78 for those in their 40s and £90 for those in their 50s.
Price simulation as of January 2024
| Insurance | 20s | 30s | 40s | 50s |
|---|---|---|---|---|
| Genki ¹ | €39 | €55 | €60 | €78 |
| SafetyWing ² | $45.08 | $45.08 | $73.92 | $115.92 |
| World Nomads ³ | £47 | £47 | £78 | £90 |
² Price excluding USA coverage
³ Standard Coverage for a subscription of 12 months for UK residents. Exclude USA & Canada, they can be added for a high surcharge
What is their reputation?
World Nomads Scores Worst, with recent downtrend tendency
Looking at Trustpilot reviews, these are the scores for the above companies:
- Genki 4.3
- SafetyWing 4.1
- WorldNomad 3.5
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health cover - Your personal travel preferences
1. Home country exclusion & Policy Duration
If You Intend to come back home, avoid World Nomads
Genki offers coverage for 6 weeks every 6 months in your home country. They bill every month, with policies lasting up to 2 years. Interestingly, they don’t require an end date for the policy, and their minimum term stands at 1 month.
SafetyWing provides 30 days of home country coverage for every 3 months. Their billing cycle is every 28 days. Policies with Safety Wing can stretch up to a year, without the need for a predefined end date.
World Nomads does not cover your home country. They prefer full upfront payments, with a coverage duration up to a year. Unlike the other two, World Nomads requires an end date for their policy. Additionally, they don’t mandate any minimum term for purchase.
Travelling for more than one year? Genki is more suitable.
If you plan to travel for more than one year, Genki could also be the best choice, since the price is locked for two years. For the other two, you will need to subscribe to a new insurance. It can be done while travelling.
HOME COUNTRY Coverage & BILLING
| Insurance | Coverage of your Home Country | Billing | Duration | Require End Date | Minimum Term |
|---|---|---|---|---|---|
| Genki | 6 weeks very 6 months ¹ | Monthly | Up to 2 years | No | 1 month |
| SafetyWing | 30 days every 3 months | Every 28 days | Up to 1 year | No | 5 days |
| World Nomads | No | Upfront | Up to 1 year ² | Yes | None |
² Valid for UK and Ireland simulation. Coverage can be limited to 180 days for residents of other countries
2. Deductibles, Pre-conditions & Maximum Coverage
Do you have pre-conditions? Genki Is the best choice.
Genki has a low deductible of €50 and offers coverage for pre-existing conditions as long they were discovered at least 6 months prior to the travel, with no maximum coverage limit.
SafetyWing has a higher deductible of $250, covers only acute episodes of pre-existing conditions, offers a maximum coverage of $250,000. However, the deductible is per insurance period, which means that just the first $250 will be deducted.
World Nomads requires a £100 deductible, does not cover pre-existing conditions, provides a high maximum coverage of £2 million.
Deductibles and pre-conditions
| Insurance | Deductible | Pre-condition | Maximum | Repatriation |
|---|---|---|---|---|
| Genki | €50 ¹ | If discovered at least 6 months before | None | Included |
| SafetyWing | $250,000 ² | Acute episode only | $250,000 ³ | Included |
| World Nomads | £100 | Non-Included | £5 millions | Included |
² Per insurance period
³ $100,000 if over 65
3. Extreme Sports and Pregnancy
For Extreme Sports and potential Pregnancy Genki Is the best choice.
Genki offers dental coverage up to €500 and covers sports activities unless they are deemed dangerous, with a generous provision for pregnancy-related issues.
SafetyWing covers dental expenses up to $1,000, but only covers complications related to pregnancy.
World Nomads offers a moderate dental coverage of up to £300, covers only low-risk sports activities, but you can opt-in for extreme sports. Additional fees apply for example, for world bike touring.
Sports & Pregnancy
| Insurance | Dental | Sport | Pregnancy | Counselling |
|---|---|---|---|---|
| Genki | €500 ¹ | Covered unless classified as dangerous ³ | Up to € 50,000 | Up to 20,000⁵ |
| SafetyWing | $ 1,000 ² | Covered unless dangerous ⁴ | Complication only up to 26th week | Not Included |
| World Nomads | £300 | Only category 1 risk | Complication only (with period limitation and up to 12 weeks before delivery) | £ 250 |
² Deductible does not apply
³ Motorcycle and Car Racing, including the training related hereto, parachuting, paragliding, bungee jumping, base-jumping, mountaineering (if special climbing equipment is required), Free Climbing, sport diving and scuba diving
⁴ Wider Exclusion that for Genki, however there is an add-on option available to include high risk activities, such as cave diving, ski jumping and more.
⁵ Include inpatient treatment for newly diagnosed disorder
outside Health cover
Cancellation and Delays
Genki is the only one not covering typical travel add-ons
World Nomad coverage varies greatly between the basic (‘Standard’) coverage that we simulated above and the (‘Explorer’) policy, including a wider range of coverage (i.e. rental cars). That said, the standard insurance still provides coverage of up to £3,000 for cancellation/interruption, and up to £10,000 for death/disability, but does not include coverage for travel delays or catastrophes.
SafetyWing offers a comprehensive coverage, including up to $5,000 for interruption, $25,000 for death/disability, and $100 per day for both travel delays and catastrophes.
Deductibles do not usually apply.
Genki does not provide any coverage in these categories.
Non-Health coverage
| Insurance | Cancellation / Interruption | Death / Disability | Travel Delay | Catastrophe |
|---|---|---|---|---|
| Genki | N/A | N/A | N/A | N/A |
| SafetyWing | $5,000 ⁴ | up to $25,000 ³ | $100 a day ¹ | $100 a day ² |
| World Nomads | £3,000 | Up to £10,000 | Not included | Not included |
² Max 5 days
³ Up to $50,000 for death when using public transport
⁴ Interruption only, cancellations are not covered
What is the best nomad insurance?
Typical profiles of long-term travellers
Our assumptions
- Remote Worker/Entrepreneur: Professionals working remotely, typically travel for 6-12 months in specific countries, and prioritize high coverage for travel disruptions.
- Gap Year Adventurer: Young individuals on a year-long break, often traveling worldwide, heavily involved in extreme sports, with minimal concern for dental/pregnancy.
- Family Nomad Travellers: Families traveling globally for a year, with minimal involvement in extreme sports, standard dental/pregnancy coverage.
- Long-Term Bikepacker: Adventurous travelers on extended biking trips over 12 months, often worldwide, with a significant focus on extreme sports.
- Retiree Traveller: Retired individuals traveling globally for over a year.
our nomad profile assumptions
| Nomad Profile | Coverage Period | Coverage Geography | Extreme Sports | Dental/Pregnancy | Cancellation/Travel Delay |
|---|---|---|---|---|---|
| Remote Worker/Entrepreneur | 6-12 months | Specific Countries | Medium | Standard | High |
| Gap Year Adventurer | 6-12 months | Worldwide | Important | Low | Low |
| Family Nomad Travellers | 12 months | Worldwide | Marginal | Standard | Low |
| Long-Term Bikepacker | 12+ months | Worldwide | Important | Low | Low |
| Retiree Traveller | 12+ months | Worldwide | Marginal | Dental - Standard | Low |
Which company should you choose?
Genki unless you travel with a family, or if you care about outside health coverage
Genki provides extensive health and geographic coverage, often at lower costs for most age groups. For travellers needing outside health coverage, Safety Wing could be a better fit. For example, for remote workers or entrepreneurs who need reliable travel options after flight cancellations, Safety Wing maybe a practical choice.
Families might find SafetyWing’s offer to include two children (up to 10 years old) for free with each adult plan appealing, though the total coverage limit remains unchanged.
Overall, while Genki is generally recommended, it’s important to consider personal needs and circumstances when choosing an insurance plan.
Best Nomad InsuranceS
| Nomad Profile | Coverage Period | Best Insurance |
|---|---|---|
| Remote Worker/Entrepreneur | 6-12 months | SafetyWing |
| Gap Year Adventurer | 6-12 months | Genki |
| Family Nomad Travellers | 12 months | SafetyWing |
| Long-Term Bikepacker | 12+ months | Genki |
| Retiree Traveller | 12+ months | Genki |
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