Admissions months are round the corner, meaning there is plenty of confusion in the air about the dos and don’ts of studying abroad. Amidst all the paperwork that is keeping you busy, it is also important to factor in the possibility of falling sick when you are out to study abroad, spending a considerable time in a new place and climate. This is where the need for travel insurance steps in.
What is a Student Travel Insurance?
Student Travel Insurance policies are specifically designed for students studying abroad, providing them financial protection against unanticipated events that may arise during a typical travel itinerary. Typically, such policies take into consideration both the trip and the student’s health.
Unplanned expenses can always crop up during your stay abroad for academic purposes. Be it opting for emergency transport or going for an academic trip, travel mishaps or sudden repatriation, such expenses can drill a hole in your pocket if not previously planned or prepared for. This makes it important to purchase a student travel insurance in time, lest you should struggle to cover all sudden expenses out of your pocket.
Who is Eligible for a Student Travel Insurance Policy?
Here are the eligibility criteria for someone who wants to get a student travel insurance policy:
- In general, everyone between the ages of sixteen and thirty-five is eligible to apply.
- He or she must be registered for a course at an accredited institution of higher education, be enrolled there full-time, and be attending classes there.
- Each student is limited to a single travel insurance plan throughout the specified insurance period, which is usually a year.
The Need for a Travel Insurance for Studying Abroad
Most foreign universities insist that students be covered with student health insurance for studying abroad locally once they are residing in the campuses. While this is not mandatory, it is always beneficial to stay prepared. This truth could not have been proved better than with the instance of the COVID-19 pandemic, when many students residing in foreign campuses found themselves grappling with an infectious disease.
A student health insurance covers mental health issues, nervous breakdowns and disorders, medical termination of pregnancy, and so on – benefits that are starkly different from leisure travel policies. An international travel insurance is even better than the local insurances that some universities insist on since it covers medical expenditures abroad as well as travel-related mishaps such as hijackings, baggage, delays, evacuation, and document loss.
Other use cases for a travel insurance when studying abroad could be to compensate for lost or stolen luggage and/or passport, for travel delays and cancellations from the company’s end, for property damage, and even in times of environmental disasters afflicting the country of your stay. Travel insurances for the US and Australia compensate up to $500 for baggage loss.
Here are the various aspects that a student travel insurance may cover:
- Expenses associated with the insured person’s emergency medical evacuation to their country of origin
- Expenses for medical emergencies on the trip/stay abroad during the insurance’s specified period, such as any sudden illness, injury, or death
- Costs associated with transporting the insured’s mortal remains back home or for interment abroad are covered in the event of an untimely death.
- Accidental harm sustained when travelling abroad
- Dental care and associated costs
- Compensation for a personal injury sustained while a passenger on a common carrier while travelling abroad that results in death or permanent incapacity.
- Loss of personal belongings or luggage via a shared carrier
- Loss of passport and costs associated with getting a replacement or duplicate passport, subject to a few conditions such as reporting a claim within a specified period (usually 24 hours), reporting to local authorities, etc. A loss due to negligence in a public place or on public transport, or one that is caused due to detention/confiscation by customs or police officials cannot be claimed.
- If an insured person has been hospitalized for seven days or longer, the cost of their return flight is covered when they are visited by relatives.
- If the policy holder’s education is interrupted due to a medical emergency, the paid semester tuition is repaid.
- If the policyholder is detained or arrested while travelling abroad for an offence that is covered by the policy, the bail money is paid to the relevant authority.
- The insured student’s tuition payments are refunded if the sponsor who is paying their tuition dies because of an accident.
What to Look for in a Student Travel Allowance?
Always try to look for a travel insurance plan that is expansive – ideally it must cover comprehensive aspects like trip cancellation, interruption, delay, medical costs, medical evacuation, and baggage.
To be sure the policy will meet the demands of your circumstances, read the policy’s fine print carefully. Different insurance providers offer different types of benefits, but also are restrictive in their own way. Do make sure to go through the policy document correctly to avoid experiencing service gaps later.
Do remember to place due focus on the medical costs covered by the insurance. All medical expenses of the student should be covered to the appropriate extent by the insurance and see if there are any chances to upgrade the amount initially insured against.
Also, look for any services that come with the travel insurance package, such as travel guidance and support in the foreign country. By going through in detail and familiarizing yourself with the scope of the plan’s assistance services, you can duly call-in crucial assistance like hospital or doctor referrals and translation services in a variety of languages.
The Right Time to Buy a Travel Insurance? Right Away!
It is recommended to purchase your travel insurance within 15 days of the date of the first deposit for the trip to take advantage of early purchase perks including coverage for cancellations for any reason. However, an insurance can be bought up to 24 hours before the scheduled departure time.
We would recommend getting started with the insurance process at the earliest so that you have plenty of time in hand to go over the process, details, offers, key information, and arrive at the best decision for your student travel insurance.
Looking for a health insurance instead to cover medical expenses for your academic duration? Get in touch with our experts and let us take you through the entire process of purchasing a health insurance for studying abroad.