Studying abroad entails a lot of risks – the risks of flight cancellation at eleventh hour, medical emergency, loss of baggage, etc. Pulling yourself up under such adverse conditions abroad can be quite expensive in itself. Also, a student living alone outside India might need visit from the family or other back-ups if something goes wrong.
To cope up with all these situations without burning a hole in your pocket, it is sensible to get student travel insurance from a reputed insurance firm. Each student who frequently travel to nearby destinations needs a student travel insurance. It keeps them protected in the new place and covers for expenses of hospitalization, loss of baggage, tuition fee, sponsor protection and travel, family visit and other incidental expenses.
Your choice to buy a good cover should be more dependent on the flexibility of the policy, the amount of coverage, claim settlement process and track record, hospital networks (the insurers tie up with the list of hospitals your child is going to study in) along with other benefits. There are many universities abroad that also provide their students extensive health cover with a strong network of hospitals. What’s good with the plans offered by the universities is that they provide cashless treatment in the hospitals based nearby.
Two important factors that you must consider while getting a student travel insurance are:
1. Gap year travel: Taking a gap year nowadays has become a custom among students around the world. This means that it will be hard for these students to find an appropriate cover especially those who will be visiting some other country, and that too alone. Fortunately, there is a wide range of life insurance policies that cater to such needs of the students and lend a helping hand to them. But an important consideration when purchasing a policy of this type is the exact period of your travel and also the destination covered, even if you are just passing through the country.
2. Extreme sports: If you are planning to travel overseas to participate in some sports activity, getting a student travel insurance that covers for extreme sports is an absolute necessity as there is always a risk of injury in sports. The insurance covers you when you get injured and helps you get treated from the best hospital in the nearby location. While there are many types of insurance policies that cover for basic medical emergencies, you should buy the one policy that provides extensive coverage if you plan to undertake extreme sports or activities. There are many insurance companies that even specify the type of sports that their policy covers for. So this gives you the option to choose the best policy that matches your criteria best.
Also, do not forget to read the details of the policy you are planning to purchase. Understand your policy well. Check what all it covers for. Keep an eye on the deductibles and the sub-limits section of the policy as these two can increase your policy premiums. After doing a thorough research on the best policy, pick the one that provides extensive coverage within your budget and complies with the university guidelines too.