Studying overseas comes with plenty of challenges for students. Managing daily expenses with a tight budget and adjusting finances, especially during a medical emergency or an unexpected event, can be challenging. This is where a student travel insurance policy can be helpful.
Designed for students pursuing higher education overseas, it offers financial assistance and security against various travel-related risks. This blog will discuss various travel risks that are covered by student travel insurance.
What Is Student Travel Insurance?
Student travel insurance policy is designed for students who are moving overseas to pursue their higher education. By purchasing a study abroad insurance policy, you get coverage for various travel-related risks such as study interruptions, loss of checked-in baggage, medical emergencies, loss of passport and more.
Whether you are planning to pursue your higher education in a foreign country like Europe, Australia, the US, the UK or anywhere in the world, buying travel insurance makes studying there much safer.
What Does Student Travel Insurance Cover?
Here’s is a list of situations covered by a student travel insurance policy:
- Total loss of checked-in luggage by a common carrier.
- Accidental bodily injury while on a trip.
- Emergency expenses made towards medical evacuation to India.
- Expenses of getting a fresh or duplicate passport in case of loss of passport.
- Reimbursement of tuition fees in the unfortunate event that the sponsor paying your tuition fee passes away because of an injury.
- Compensation for permanent disability or death because of an accident, in case you are riding as a passenger in a common carrier.
- Refund of the paid semester fees if your education is disrupted due to a health condition.
- Payment of the bail amount to appropriate authority, in case you are detained or arrested by any judicial authorities for a bailable offence, while studying in a foreign country.
The list of inclusions may vary depending on the study abroad insurance policy you purchase. Therefore, read your policy documents carefully.
What Does Student Travel Insurance Not Cover?
Here’s is a list of situations not covered by a student travel insurance policy-
- Insurance claims arising out of non-declared and non-disclosed pre-existing health conditions will not be covered.
- In case of loss of checked-in luggage, no partial damage shall become payable under this travel policy.
- Challenges faced because of loss or theft of passport when left unattended or unreported to the local authorities.
- War or nuclear threat at the destination where you are travelling.
- Expenses incurred while travelling to get treatment abroad.
- Expenses incurred for terminal prognosis for a health condition.
- Expenses incurred if you are on a waiting list or receiving specified medical treatment.
- Expenses incurred if you are travelling overseas for studies against the advice of a physician.
The list of exclusions may vary depending on the study abroad insurance policy you purchase. Therefore, read your policy documents carefully.
To Wrap It Up
Wondering if travel insurance for a student visa is mandatory? In most countries, you will be required to get adequate student travel insurance coverage to secure a student visa. Hence, you must check the rules and requirements of getting a student visa from the country you are planning to study in. Regardless of whether travel insurance is mandatory for a visa, it is recommended to opt for student travel insurance before pursuing a course abroad.