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My 3 Favorite Backpacker Insurance Companies For Travel on the Cheap
There are only three companies that I’d consider using as a backpacker planning a budget trip.
1. HeyMondo – Cheap Insurance for Long Trips & Easy Claims
Heymondo offers tailor-made travel insurance with some of the best value for money I’ve found for my trips.
Launching in 2019, they’re relatively new on the travel scene. However, Heymondo has gained a very good reputation among backpackers for their 24/7 assistance, good claims track record on Trustpilot, and an excellent app for managing claims (something that I’m personally a very big fan of).
I’m currently using their long-stay insurance for my backpacking trips in 2024. I buy this in 90-day blocks which is good because I know that I’m going to be traveling for the whole year but I have the option of keeping it semi-flexible.
This currently costs me $44 per month for worldwide travel (excluding USA) on the barebones policy. The pricing seems to vary a little depending on your chosen destinations and your home country, but all We Seek Travel readers get 5% OFF by using my link.
Pros
- Medical expenses up to $2,500,000 USD
- Repatriation and early return up to $500,000 USD
- Covid-19 Coverage
- 24/7 worldwide assistance
- Excellent app for managing claims
- Great reputation for paying claims
- Baggage up to $1,200
Cons:
- Must pay extra for electronics coverage
- Extra fee for adventure sports add-on
- Adventure sports is way too broad and even includes activites like “basketball”.
2. Safetywing – Best Affordable Insurance for Remote Workers & Digital Nomads
As I’ve mentioned, Safetywing was my go-to backpacker insurance for several years prior to switching to HeyMondo. They usually market their policies to remote workers and digital nomads with their monthly payment plans.
They offer basic plans for things like medical costs, delays and trip interruptions, as well as additional coverage even when visiting your home country.
Safetywing is a popular insurance plan for many travelers and you’ll usually hear their brand bounce around in hostels because they are one of the most affordable options for backpacking trips longer than one month.
Their standard coverage currently costs just over $45 for 4 weeks of travel, which is just slightly more expensive than Heymondo. However, in my case, I’ve found Heymondo to have slightly better coverage for the price.
Pros
- Medical expenses up to $250,000 USD
- Easy online claims
- Coverage for limited time in your home country
- Good customer service
- Newly added adventure sports coverage is actually decent (but costs extra)
- Their standard coverage costs just $45.08 USD for 4 weeks of travel
Cons:
- Limited coverage for electronics and personal belongings in the basic policy
- Adventure add-on really bumps up the price
- Backpackers from some regions can’t buy a policy until they have left their home country
3. World Nomads – Backpacking Insurance for Adventure Travelers
When it comes to the best backpacker insurance companies, World Nomads is often mentioned, especially in adventure-centric travel communities.
I’ve met many travelers who use this policy specifically for their relaxed altitude cap limits (check their policy). In fact, I’ve used World Nomads to insure my treks in the Himalayas including the Three Passes and Everest Base Camp Trek and the Manaslu Circuit Trek because I found at the time Safetywing did not offer any coverage at all above 4,500 meters.
Furthermore, I’m a big fan of World Nomads’ community efforts, starting the Footprints Network, which supports great causes like Fred Hollow’s Foundation and WaterAid. This means that backpackers buying travel insurance with World Nomads are directly contributing to making the world a better place.
Pros
- Extensive coverage options for adventure activities
- Usually offers higher trekking altitude limits than other insurance companies
- Great philanthropic efforts
- Excellent support team
- Great history and long-standing reputation in the backpacker community
- Can buy a policy at home or while already traveling
Cons:
- Typically more expensive than the other cheap travel insurance options available today
- Activity Restrictions: Although World Nomads covers a wide range of activities, there are exclusions. For adventurous travelers or those engaging in extreme sports, it’s crucial to check if your specific activities are covered.
