What Is Travel Insurance & How Does It Work?

What Is Travel Insurance & How Does It Work?

As a traveling nomad, you often encounter uncharted territory. It’s important to us that you don’t enter it alone. We understand what it means to be world citizens, connected to every corner of our planet through our shared interests in exploring and experiencing new cultures through their food, art, music, and customs. We know that traveling leads to the discovery that we are all more alike than we are different, and therein lies the beauty of being a nomad.

Insured Nomads is more than simply travel insurance or trip cancellation insurance. We have built an insurtec platform that caters to the remote work revolution, empowering our communities to safely and intelligently live, work, and play anywhere around the world. To give you the best travel insurance, we ensure you are protected if your trip is disrupted for covered reasons.

Insuring Your Love of Traveling

Let’s face it, discussing insurance isn’t exactly the hottest topic at our cookouts or gatherings. That’s why if you have watched any American football games lately you probably noticed that there were far more commercials for insurance than for beer. In fact, insurance companies take up a large portion of the allotted ads on many networks. This is because insurance has not always been something that people got excited about. We want to change that.

Travel insurance protects your love for traveling. No matter how hard we plan, prepare, and train, catastrophe is always just around the corner. Sometimes an unforeseen event can’t, well, be foreseen. You love traveling, and we want to protect that love with insurance that gives you peace of mind that a company founded with that same love has your back. 

Dream Protection

We want to bore you, briefly, with the technicalities of insurance. Essentially, insurance is risk redistribution. When you purchase an insurance policy you distribute the bulk of your risk to the insurance company, which then shares that risk with you through the form of deductibles and premiums. 

Insurance is legally considered an Aleatory Contract. These types of contracts originated in the age of the Roman Empire. Put simply, they require very little investment in the form of premiums from the client, but in the event of a qualified claim, payouts from the insurance company are usually substantially greater than the premium paid, creating an unbalanced benefit for the insured. 

As fun as that was for you to learn, we like to term travel insurance as dream protection. You have a dream, and we are here to protect it! The worst time to realize you need insurance is when you need it. One event can dramatically change your life, your pursuits, and your ability to continue living, traveling, and working abroad. Travel insurance benefits from Insured Nomads provide you with peace of mind that you can continue pursuing your love of traveling.   

Insured Nomad Coverages

Up to this point, we have focused on why it is important to find a travel insurance company that offers the benefits you need.

As you have probably noticed, to us it is much more than just insurance you pay premiums for. For us, it is an essential item to be packed for your journey, and more important than the stuff you put in your suitcase, backpack, or briefcase. It ensures your love for traveling is not hindered and protects your dream to continue doing it for as long as you are able to.

At Insured Nomads, we offer World Explorer plans that have you covered for a variety of emergencies that may occur abroad wherever you are, and for both travel medical expenses and non-medical situations like travel delays and baggage delays. Our policies are designed to accommodate a variety of explorers and their itineraries, including both individuals and families, short trips, long trips, and multiple annual trips. 

Our comprehensive travel insurance covers you for many different events subject to certain limitations, including 24 Hour Emergency Medical Care, medical coverage for pre-existing conditions, medical expenses related to the coronavirus pandemic, emergency dental procedures, transportation including by ambulance in a medical emergency, natural disaster accommodations, emergency evacuations, lost luggage, trip cancellation coverage, cellular service, adventure/marine sports coverage, and much more. 

Why You Need Travel Insurance

Insurance is a big deal. We have insurance for almost every aspect of our lives. We have auto insurance, which is usually mandated to some degree, to insure against our liability and damages we may cause to the property and lives of others, life insurance to secure the financial stability of our families after our death, and health insurance to help cover the costs of medical treatments and emergencies. 

Imagine what it would be like without these major insurance coverages. The costs of these types of incidents could cause us to lose our entire way of life without insurance. 

You may not know that these insurance coverages you have at home do not always follow you when you travel outside of your country. Traditional insurance policies often come with territorial exclusions which vary from one company to the next. We are sure you would agree that reading contracts, especially insurance contracts, is not exactly light reading. This is where travel insurance from Insured Nomads shines. 

So, How Does It Work?

For starters, travel insurance is similar to watching a video on-demand with your favorite streaming service. When you know that you are going to be traveling abroad you can purchase a product that fits your needs for the time that you will be gone, instead of having to pay for an entire year of coverage like traditional insurance. 

Going to Shanghai for three months on a collaboration? Cool, let’s get you a policy that covers you while you are traveling to and from, and while you are there. We just ask one thing…bring us back a souvenir! Kidding. Sort of! 

Our plans cover you for both the small things and the big things while you are abroad. Forgetting your briefcase at home on the way to the office is no big deal, you can just turn around, go home, grab the briefcase, and head back to work; just don’t forget to blame your tardiness on the traffic! 

But, an airline losing your briefcase that had your months of preparatory work in it for your trip abroad is a much bigger problem. Travel insurance coverage is not just for the big issues and emergencies that might arise such as with your health, but also for those lost luggage items and unavoidable transportation delays and trip cancellations. 

Pennies on the Euro

Traveling has never been an inexpensive endeavor. You spend months or even years planning your grand esc…getaway. You also invest a whole lot of dough into your transportation methods, from planes and trains to cars and public transportation, local guides, lodging accommodations, food, entertainment, etc. We know that adding one more thing to this exhaustive list can seem like the straw that broke the camel’s back, but our drink on the plane is never anything less than half full!

With all of the resources that you have put towards your trip costs, it is important to protect that with an inexpensive travel insurance policy or trip interruption plan from Insured Nomads that gives you peace of mind for those things that are beyond your control. 

For “pennies on the Euro” you can ensure that you get reimbursement on prepaid expenses due to last-minute changes, trip delays, and emergencies. It is so important that we believe it outweighs the plane ticket that takes you to your destination.

We Get You

We have spent a lot of time up to this point explaining how awesome traveling and exploring our world is, and how important it is to protect that adventure with a travel insurance plan. We thought it may be equally important to tell you a little bit of our story. We know that you have many options when it comes to choosing who you insure your passion for traveling with, and we want to show you why we think we would be a great choice.

Like you, we are world citizens, deeply connected to the global community of those who break barriers and go beyond borders. Our founders have lived on all five continents. Our team is made of travelers and nomads, people who often live, work, and play outside of their home country. 

Our organization is diverse, global, and distributed. We have set out on a mission to change how the insurance experience unfolds when you experience an unplanned incident while abroad. 

We mentioned earlier that travel protection insurance contracts are by no stretch of the imagination light reading. We truly believe that, so much so that we have crafted our policies to be easier to read, more straightforward, and with more common sense than is common. We want you to have peace of mind when you are away from home pursuing your love of adventure, and that starts with having empathy born from shared experience. 

Even though we’re a travel insurance provider, we’re insurance consumers ourselves. We get that trip interruption coverage, medical insurance or medicare, car insurance, and other types of coverage are not routinely at the forefront of your mind, but as insurance professionals, we also know that when it comes time to actually need and use it, having the right company with the right coverage behind you is priceless. 

You buy travel insurance with the understanding that if you or a family member needs us we will be there for you all the way, without delay, without fine print, and without further trauma, and that’s why we believe we are the right partner for your journey.

Global Citizens

We believe that all of us must serve and help our global community, and by doing so our own communities prosper. Insured Nomads and our partners Not For Sale and Share Hope International reach all four corners of the globe with generosity and service.

This is what it means to be an Insured Nomad. This is what we believe travel insurance is. This is how it should work. 

If you’re wondering, “How much does travel insurance cost?,” “Do I have to sign any waivers or contracts?” or other common questions about travel assistance services and insurance policies, we’ve got you covered. 

Use this guide to find what coverage is best for you, or if you already know exactly what you need as a Nomad, choose the plan that best fits your needs here

We look forward to the journey. Whether it’s in New York, Beijing, or Sao Paulo, we will see you out there! 

About Insured Nomads   

Insured Nomads is the first to take an integrated traveltech, fintech and insurtech solution to the world for remote workers, globally distributed teams, expats, and travelers. Their purpose is to make travel as safe and smart as staying at home. They do this by providing health insurance with exceptional medical benefits in tandem with wellbeing, safety, security, and advanced tech-enabled solutions for ease of payment for healthcare, emergency response and evacuation. Insured Nomads is available through affinity relationships, direct, embedded and through select brokers and partners for groups and individuals. 

Information on integration, collaboration and partnership contact Brett Estep: brett@insurednomads.com



When researching destinations and travel, Try Peanut - a free google chrome extension. It automatically displays travel requirements, visa rules and more on booking.com, expedia & google flights.


Why we keep seeing so many insurance ads — as beer ads have disappeared | NY POST 

Aleatory Contract | Investopedia  

Not For Sale Campaign

Share Hope International 


  • Insured Nomads

    Insured Nomads provides global health and safety protection for the remote worker, traveller & expat. Insurance paired with advanced tech-enabled features and solutions for health, safety, security, well-being and support.

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