3 Best Cheap Backpacker Travel Insurance Companies in 2024

I’ve been living out of my backpack since 2018 and over the past few years, I’ve tried several insurance policies for travel on the cheap.

Thankfully, I’ve only had to make a few small claims, mostly for travel delays, and that time my entire backpack with all of my belongings was stolen at a Barcelona bus stop.

However, this has taught me just how unpredictable travel can be– and is why I never travel without travel insurance.

In 2024, I’m using Heymondo’s long-stay insurance for backpacking, as it provides essential coverage for medical expenses, travel disruptions, and baggage protection at the cheapest rates I could find online.

That said, there are plenty of other affordable insurance policies available for backpackers like Safetywing or World Nomads. However, the decision will ultimately come down to what coverage you need for international travel, and are eligible for (remember to read the small print).

Do I Need Travel Insurance for a Backpacking Trip?

The reason why you need travel insurance when you're exploring new places is that the unexpected can and does happen.

As the old maxim goes, if you can't afford travel insurance, you can't afford to travel.

Unfortunately, a recent US survey revealed that only 38% of travelers are choosing to purchase travel insurance for their trips. The primary reason given was that they never needed to claim on previous travels and 19% didn't consider their trip expensive enough to insure.

But who can plan for a broken bone after falling off a scooter in Bali, or a severe infection after drinking water without using a travel filter bottle?

Mishaps can set you back far more than you'd expect.

Just as Jordan Katherine, a 27-year-old backpacker who was left thousands out of pocket in medical bills when she was glassed by a total stranger in Sri Lanka.

I urge backpackers to think of it as a general safety net while overseas. I certainly didn't expect my backpack to be stolen while checking into a bus in Barcelona, or to lose thousands in flights after the sudden pandemic cancellations shut down airlines worldwide.

Luckily, I had travel insurance in both cases– and the cheap cost of the coverage was insignificant compared to the amount I ended up getting back in claims.

What Does Travel Insurance Actually Cover?

The truth is, there are hundreds, if not thousands of different travel insurance companies, all with different coverage plans and policies. However, there are a few important things that your backpacker insurance should cover including:

• Medical emergencies - for accidents and sickness. Think surgeries, medical assistance at hospitals, ambulance fees, and medical evacuations.
• Covid-19 Coverage - pretty standard these days, but worth checking
• Travel delay & cancelations - think the resumption of journey or an overnight stay at a hostel or hotel room in the case of canceled flights or lengthy flight delays.
• Emergency evacuation & Repatriation- in the event of injury or natural disasters
• Dental emergencies - often separate to medical emergency costs
• Baggage - insures your valuables (usually up to a limit) in the event of theft, damage, or lost and delayed baggage.
• Personal liability - in case you accidentally injure others or damage property overseas
• Death overseas

Remember, it's your responsibility to ensure that you have the right insurance for your backpacking trip. My advice? Read the fine print, and don't always go for the "cheapest" travel insurance because it might end up costing you much more in the event the company doesn't pay your claims.

What Doesn't Cheap Travel Insurance Cover?

While every travel insurance company offers different levels of coverage and inclusions, there are a few things that are generally not covered by any policy including:

• Injury or incidents involving drugs and alcohol - this means you can't blame the booze if you crash your moped
• Pre-existing medical conditions or general health checkups - for example I couldn't claim my scuba diving medical clearance or the extensive checkup prior to a mountaineering course in India.
• Carelessness or negligence - for example if you leave your laptop on a cafe table in Medellin while going to the toilet.
• Change of mind cancellations - you can't claim insurance if you choose to cancel your trip yourself after falling out with your backpacking buddy.
• Visa issues - travel insurance providers typically claim that it's your responsibility to obtain the relevant visa.
• Illegal activity

Now, since we're backpackers and we're trying to shave every penny off of our travel costs, the cheaper travel insurance policies typically have even more limitations.

• Motorcycle accidents, especially if you are not licensed in your home country. This is important to check as it's one of the most common causes of physical injury to backpackers, especially in Southeast Asia and South America.
• Adventure sports, scuba diving, & trekking at altitude. This is typically offered as an extra cost that makes the insurance not so cheap.
• Stolen cash
• Electronics or valuables over a certain value (including electronics)
• Claims related to civil unrest - the only policies I know that cover this is Global Rescue

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.

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.

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.