Long-term travel insurance is essential for travelers embarking on extended trips abroad. With coverage lasting more than the typical 30-day limit of standard travel insurance plans, long-term travel insurance provides peace of mind for digital nomads, expats, and international students. When choosing a long-term travel insurance provider, it’s crucial to consider factors such as coverage, cost, add-on protections, and policy length.
Our research team has compiled a list of the best long-term travel insurance providers based on these criteria. We considered coverage options, cost-effectiveness, add-on protections like rental car collision and cancel for any reason (CFAR), and policy lengths of up to a year. The top five providers we recommend are Travelex, Allianz, Faye, IMG, and World Nomads.
When selecting a long-term travel insurance plan, it’s important to assess your coverage needs. Determine whether trip benefits like trip interruption and baggage coverage are essential, or if emergency medical evacuation and medical care benefits take priority. Additionally, consider the length of your trip and whether you’ll be traveling to multiple destinations. Some plans may have restrictions on the number of countries you can visit, so be sure to choose a plan that aligns with your travel itinerary.
Cost is another crucial factor to consider when choosing a long-term travel insurance provider. Our research found that long-term travel insurance policies can cost between $540 and $1,576 for a 30-year-old couple traveling to France with $8,000 in non-refundable expenses. Comparatively, the average cost of a standard travel insurance policy for a short-term trip is around $221. Factors such as trip length, traveler age, and plan details can influence the cost of a long-term travel insurance policy.
Long-term travel insurance differs from regular travel insurance in that it provides coverage for trips lasting more than a few weeks. While both types of insurance offer similar benefits such as trip interruption, baggage coverage, and emergency medical assistance, long-term travel insurance is designed for extended travel durations. Some annual travel insurance plans may not offer certain add-ons like CFAR coverage or trip cancellation protection, so it’s essential to review the coverage details of each plan.
In conclusion, long-term travel insurance is a valuable investment for travelers planning extended trips abroad. By considering factors such as coverage needs, cost, add-on protections, and policy length, travelers can select the best long-term travel insurance provider for their unique travel plans. With the right coverage in place, travelers can enjoy their long-term adventures with peace of mind knowing they are protected in case of unforeseen circumstances.