Best worldwide travel insurance to travel the world safely in 2023

Best worldwide travel insurance for overseas students

If you’re planning a semester abroad, I recommend a student travel insurance plan, as they are tailored to students’ needs. Here’s a great promotional offer available for those who want to travel a lot while on their exchange. 

IATI Student is perfect for students heading abroad. This policy is especially useful for students studying in countries with high medical costs, such as the USA, Canada, and Japan.

Get a 5% discount on IATI Student in March 2023:

1. Get Your Discount Here
2. Fill in your trip info (country of residence, travel dates, type of insurance).
3. Click on “Calculate your Insurance”.
4. All done! The discount will be applied automatically. 

IATI Student also covers travel and accommodation costs for a family member to visit you if you are hospitalised for 2 days or more:

• Adventure sports.
• Repatriation and early return.
• Chronic, pre-existing or congenital conditions. 
• Dental expenses. 
• Personal injury from motor vehicle accidents.

How to save money on your round-the-world trip

Any round-the-world trip is going to be an expensive endeavour. However, there are some useful tips and tricks that you can use to reduce the cost of your trip. 

During my travels, I’ve compiled the following travel-hacks that I’d like to share with you. They take a little effort, but trust me, they go a long way!

Choosing insurance that is tailored to your needs is vital, but remember that flights, accommodation, the card you use, and how you book your activities are crucial factors in saving money as well. 

If you follow these tips, you might just find that by the end of your trip, you have enough money left over to explore an extra destination on your route home. Imagine that!

Fly at reduced prices!

You know, flights don’t cost the same from all countries! To pay for my cheapest flights, I use NordVPN. 

Basically, it’s a private network that allows you to access Internet sites from locations other than your own, and this can have some serious benefits:

In March 2023, enjoy a 59% discount on NordVPN.
Click here to activate your discount

Flights from Barcelona to Buenos Aires don’t cost the same if you buy them from Spain as from India, for example. So, once you’ve installed NordVPN, simply access websites like Skyscanner and compare prices by entering as if you were browsing from different countries. 

The 8 countries from which it is cheapest to buy flights are: Malaysia, Bulgaria, India, Turkey, Romania, Indonesia, Portugal, and Thailand. Once you have NordVPN, head over to Skyscanner and start paying reduced prices for flights all over the world!

Stay at a discount all year round

Access Booking.com now and get discounts of up to 15% in March 2023 by becoming a Genius user.

There are also ways to save money when booking your accommodation with Booking. The first of which is becoming a Genius user, something you get from making 2 bookings (Genius level 1), and 5 bookings (Genius level 2).

As a Genius user in Booking.com, you can enjoy:

• Discounts on room rates. 
• Free breakfast. 
• Upgrades to superior room categories. 
• Free parking. 
• Late check-out. 
• Welcome gifts.

In addition, there are hotels in Booking.com that directly offer you a 10 to 15% discount on your rate for being a Genius user.

Access to get discounts of up to 15% by becoming a Genius user.

Finally, Booking.com has a Minimum Price Guarantee program, so if you find a cheaper price for your hotel on any other website, they’ll match it!

Get the best travel card

If you travel frequently, the Revolut Metal Card is another great way to save money. For starters, they offer you unlimited currency exchanges without paying any fees! 

The Revolut Metal Card allows you to make unlimited domestic transfers free of charge, and withdraw up to £800 a month from international ATMs. 

If you spent £650 abroad in a month using a standard card, and withdrew £350 at ATMs, you would have paid around £44 in fees. 

With the Revolut Metal card, you would have paid £0 in fees.

Reserve your entertainment and sightseeing in advance

GetYourGuide is an indispensable tool for organising any trip to any destination. It’s a platform that helps you book tourism and leisure activities for your trip. 

With GetYourGuide, you can book your activities online to avoid queues, and take advantage of a discount for online bookings. This way, you save time and money, so you can enjoy more activities during your trip!

How does worldwide travel insurance work?

Although the idea of a worldwide travel insurance policy may seem daunting and complex, this is not the case at all! In fact, the way this type of travel insurance policy works is very similar to any other type of insurance.

Worldwide travel insurance policies typically cover you from 3 months to a year, with the opportunity to renew your policy on the road. This is perfect for the adventurous travellers who prefer to let the thrill of the adventure guide them.

Travelling without an exact itinerary can be truly exhilarating, but remember that travel insurance is the safety net that allows you to live your adventure to the fullest! 

In this section, I will explain how it all works. I’ll take you through the most important elements, from purchasing the insurance, to the coverage itself. Take note!

When to buy worldwide travel insurance?

Insurance companies typically focus on flexibility when it comes to worldwide travel insurance, as these trips are generally more unpredictable. This means that it’s less significant when you buy your worldwide travel insurance. 

Flexibility is important because you might just decide to extend your trip and continue your adventure! Haven’t we all been on a trip and not wanted it to end? 

With this in mind, insurance companies allow you to buy or renew your overseas insurance for as long as you like, before your cover runs out. Beware that once you’ve renewed your policy, there will typically be a 72-hour waiting period. 

It’s worth mentioning that most companies offering worldwide travel insurance give you the possibility to add extra coverage, such as trip cancellation cover, or adventure sports, for the daring traveller. Think carefully about whether you’ll need these!

What does worldwide travel insurance cover?

If you’re setting off on a round-the-world trip, your insurance should effectively cover all aspects of your journey. This will allow you to travel with peace of mind, the most valuable travel companion of all!

In this section, I’ll go through the benefits that will be most relevant to you, so you can find the most suitable policy for your trip. Also, note that all the insurance policies I have mentioned above include the following features:

• Repatriation and 24-hour assistance. In the event of serious illness or accident, repatriation allows you to return to your country if necessary. It is also a necessary benefit for countries where natural disasters are common. On the UK Government website, you can consult the specific travel recommendations for each country. Remember, travelling to countries with official travel warnings may impact your coverage. 

• Extensive medical and hospitalisation cover. Travelling around the world involves visiting a multitude of countries, and each one has a different health system. In most cases, for tourists, health care is brutally expensive, and thus, comprehensive medical coverage will save you a lot. The European Union has created the Re-Open EU website, which provides fully up-to-date information on this subject.

• Dental, physiotherapy, psychological, or chiropractic expenses. During long journeys in particular, one is likely, at some point, to suffer from dental or physiotherapy problems, among others. Having acute pain can be a scary experience while overseas, hence the importance of including this expense in the policy.

• Early return of the insured person(s). Being away from home for such a long time, circumstances may arise that require you to return early, such as the death or hospitalisation of a family member. This cover is essential for any long-term insurance, as you want to know you’ll be able to see your loved ones.

• Accident benefit. This provides compensation for permanent disability or death, in the event of an accident at your destination or during your trip. I know it’s terrifying to even think about, but if the worst happens, you want to be prepared. 

• Compensation in case of theft or damage to luggage. It’s also very important to highlight the coverage of electronic equipment, especially for digital nomads. Digital nomads travel the world as remote workers, so their electronic equipment is essential to their livelihoods. 

• Legal advice abroad. In the event that you need it, insurance companies will provide a lawyer by telephone to advise you.

• Public liability. Includes expenses in the event of damage to property or injury to third parties. It’s important to remember that you can’t foresee the types of situations you’ll find yourself in. 

• Search and rescue costs. This type of cover is particularly important for the more adventurous travellers. Remember, rescue costs are extremely high in all corners of the world.

• Extension and renewal of insurance. As mentioned in the previous sections, travelling around the world is unpredictable, and you may want to extend your trip, especially if you’re an avid traveller. Therefore, it’s essential to have an insurance policy that offers immediate renewal. Please beware, however, that there will typically be a 72-hour waiting period upon renewal. 

Remember that this is just an overview, so make sure you read the terms and conditions of your policy carefully so that you’re prepared if you run into any issues on your trip. 

How much does worldwide travel insurance cost?

One of the most frequently asked questions when it comes to purchasing worldwide travel insurance is the price. Today, the average price for 3 months is around €200 per traveller.

Here are a few factors that may affect the price of your worldwide travel insurance: the number of people contracting, discounts and promotional offers, the amount of medical expenses covered, and whether you’re covered for adventure sports.

Before contracting insurance for your trip, think about the following: which activities you’ll be taking part in, medical expenses in the regions you plan to visit, and whether you’ll be visiting high-risk areas. 

It may seem tempting not to bother with travel insurance, but I assure you, the peace of mind that you’ll take with you is invaluable, and will allow you to fully take in the experience. 

How do I buy worldwide travel insurance?

Buying worldwide travel insurance is essentially the same as buying any other type of policy, but there are some things you need to consider. Here is a step-by-step guide on how to do it. 

The websites of the insurance companies I mention are straightforward and intuitive, so don’t worry!

1. Go to the website of the insurer of your choice and click on the insurance option that corresponds with a round-the-world trip. Different companies use different names for this type of trip. 

2. Once you have selected the insurance, you will see a “Contract” button, or something similar. Click to start the contracting process.

3. Once there, you will need to fill in your trip details. Firstly, the duration of the trip. Here you should bear in mind that the minimum is 3 months, and the maximum is 12 months. There is always the possibility of renewal if the trip lasts longer! Secondly, the number of travellers. Finally, the countries you will be visiting. Most companies offer a “Worldwide” option for travellers who don’t know which countries will be part of their adventure.

4. Fill in the details of each traveller and add a supplement if necessary. This is usually the cancellation or adventure sports option.

5. Read the insurance conditions carefully, and that’s it! You now have your worldwide travel insurance, and you’re ready to embrace the adventure of your round-the-world trip!

Worldwide travel insurance reviews

You can find thousands of online opinions on travel insurance for round-the-world trips, which give you a good idea of how people rated their experiences with their travel insurance providers. 

Here are some online reviews to give you an idea of what to expect when taking out worldwide travel insurance.

Positive opinions about contracting worldwide travel insurance:

• The medical coverage is broad, and valid for all countries of the world;
• Customer service is fast and efficient;
• There are various options regarding payment of the insurance;
• It can be taken out from abroad, once the trip has begun;
• It includes a refund in case of interruption of the trip.

On the other hand, here are some points that customers were less satisfied with:

• Trip cancellation is an additional cost;
• Sometimes the traveller has to pay money in advance before the company reimburses you;
• Some insurance companies have an age limit for contracting this type of insurance.

Is it worth it to take out worldwide travel insurance?

My answer: a definitive yes. Travelling around the world means spending a lot of time away from your home country, visiting different cities, and travelling by a variety of means of transport, and thus, the chances of a costly, unforeseen event increases. 

These policies are flexible, and are designed to include conditions for long-term trips, making them the perfect ally on your adventures around the world.

Worldwide travel insurance is the perfect solution to avoid a financial nightmare, in the event of an incident occurring on your trip, so remember, you’re better safe than sorry! 

All that remains now is for me to wish you a wonderful trip around the world! 😁