We’ve had travel insurance since day one of our round the world bicycle tour. Being insured is important to us for a couple of reasons.
Quality Healthcare Costs add up Quickly
A surprising number of cyclists and travelers we meet choose not to purchase travel insurance.
Their logic is that healthcare in developing countries is not expensive. They believe covering treatment costs out of pocket will not be a major financial burden.
Sure, treatment in a PUBLIC hospital in a developing hospital will be cheap. But we’d like to have the best care possible, and that means going with a private hospital.
Granted, private healthcare in Thailand or Tanzania will be much less than in the US or Europe. But if you’re involved in a serious accident, care costs will quickly skyrocket to thousands of dollars.
We want to be covered in such a case and not be forced to deplete our savings.
Peace of Mind in Extreme Circumstances
The need for medical evacuation is rare, but it does occur.
We met a German cyclist who lost control of his bike after hitting a slick spot on the road. He ended up nearly puncturing a lung. The accident occurred in a remote part of China and the cyclist had to be evacuated to Bangkok.
Luckily he had insurance.
Cases like this are rare, but potentially catastrophic if you’re not covered. That’s why we’re insured.
Our Newest Insurer
We’ve switched travel insurance companies several times over the years.
Premiums go up significantly as you age and can take a big bite out of your travel budget.
With our new insurer, Chapka International Backpacker Travel Insurance, we pay a little less than $50 per person, per month.
We like the policy for a few reasons:
Cycling is NOT excluded as a “dangerous activity.”
Obviously this is important on a bicycle tour. If you read the fine print, you’ll notice that many policies specifically EXCLUDE cycling and list it as an extreme sport.
The policy can be taken out for an initial period of 90 days and then extended for periods ranging from 3 months to one year. We like this flexibility.
Great Price, Reasonable Coverage
The maximum coverage is 200,000 euros (1 million in the USA and Canada). While some policies offer higher limits, we feel this is reasonable.
Backed by a reputable and respected Underwriter
We feel confident in going with this company as our travel insurance provider.