Travel insurance for students is a unique blend of international travel and health insurance. Specially made for international students, these insurances provide financial help caused due to medical emergencies, document loss or theft, personal liability, study disruption, and other stay-related risks that students might face during their education in a foreign country.
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There are various reasons to attain travel insurance for students primarily to secure their stay in the country. In this blog, we have covered all the details related to travel insurance for students.
Key Takeaways:
- Travel insurances provide students with safety and comfort while studying abroad.
- Travel insurance for students usually covers the costs of accidents and illnesses, study interruption, and more.
- Travel insurance usually includes the cost of emergency dental expenses, medical evaluation, accidental deaths, and more.
- Some of the top travel insurances for college students include Faye, Travelex, and Seven Corners Travel Insurances.
- Student travel insurance typically costs about $154 on average.
- The factors that affect the cost of travel insurance for students include destination, age, cost of the trip, and deductibles.
- To save money on travel insurance students can carry out proper research, compare quotes of 3-4 plans, and analyze the risks involved.
Features of Travel Insurance for Students:
Travel insurance provides students with safety and comfort while they are studying abroad. Some features that students can enjoy when they purchase travel insurance are:
1. Cover for accidents and illnesses:
Becoming sick is never fun, but becoming sick overseas is especially bad. The majority of policies will assist in covering the price of receiving medical care when you are unwell. That’s not all, though. An accident may result in a brief hospital stay or be fatal.
The majority of international student travel insurance plans assist students in covering their expenses, no matter what. Insurances will handle everything, including medical evacuation, emergency medical treatment, and the repatriation of the insured’s remains. If necessary, emergency dental care will even be covered by the chosen student travel insurance policy.
2. Compassionate visits:
It can be challenging to be far from family, particularly when someone is ill. Your student travel insurance policy will assist cover the cost of having a family member fly down to be with you if you are hospitalized for longer than seven days in a row. Should a family member be unwell at home and admitted to the hospital for longer than seven days in a row, your travel insurance policy will assist you in paying for the airfare to see them.
3. Study interruption:
You may encounter a variety of challenging circumstances when studying overseas. You may become terminally ill or require more than a month-long hospital stay for therapy. Even though you might not want to consider it, you could have to return home right away in the event of a family member’s death. Your student travel insurance policy will assist in repaying you for any unused tuition fees if these unavoidable circumstances prevent you from finishing a semester for which you have already paid.
4. Travel assistance:
Immersion in a foreign culture while studying abroad may be exhilarating. However, if something goes wrong, it can be extremely frightening. An international student travel insurance policy will assist you if you require any guidance on where to obtain medical care or how to apply for a new passport if yours is stolen or misplaced.
5. Personal liability:
You won’t be required to pay for an accident out of your pocket if it causes harm to another person or damages their property. The majority of student travel insurance policies will assist with covering the cost of any required medical bills or repairs.
6. Baggage loss or delays:
You won’t have to worry if your suitcase is misplaced, stolen, or delayed because it was mistakenly left behind or sent to a different location. Your overseas student travel insurance policy will cover the expense of replacing any lost luggage and assist you in handling the cost of buying essential personal items.
What is included in travel insurance for students?
1. Medical-related coverage:
- Emergency medical expenses:
Being a foreign student, unexpected illness or accident can be expensive. With travel insurance, students can avail of cashless medical care if they need to be admitted to the hospital. However, it is always recommended that students apply for health insurance for maximum benefits.
- Emergency dental expenses:
Most travel insurances cover the expenses of dental care in case of injuries or acute pain.
- Medical evacuation:
Travel insurances often get students out of distressing situations with emergency medical evacuation via air or surface to the nearest hospital.
- Accidental deaths:
Travel insurances pay a huge amount to families in case of an unfortunate accident that could lead to death.
- Permanent disability:
Travel insurance cannot make up for your loss, but travel insurance may pledge to assist by paying if an accident results in permanent incapacity.
2. Baggage related coverages:
- Loss of checked baggage:
Travel insurances often compensate for the loss of lost luggage that could happen during traveling or other circumstances.
- Delay of checked baggage:
In case a student’s baggage is delayed, they will be given an emergency fund for purchasing items for emergencies.
3. Stay related coverages:
- Personal liability:
Travel insurance will reimburse students for any unintentional third-party harm they may cause when traveling abroad.
- Bail bond:
Travel insurances help students out of legal difficulties by paying the bail amount on arrest or detention for a bailable offense.
- Study interruption:
In case a student’s studies get interrupted due to prolonged hospital admission or the death of an immediate family member or sponsor, travel insurance will refund the tuition fees.
- Sponsor protection:
In case a student loses his sponsor to death, travel insurances pay the fees for the student.
What are the top travel insurances for college students?
1. Faye:
| Average Cost | Medical Expense & Evacuation Max | Trip Interruption % |
| $298 | $250,000 | 150% |
Pros:
- Faye offers fast online quotes and enrollment
- Can pay you $200 if your bags get delayed for six hours or more
- Optional Cancel-for-any-reason add-on covers up to 75% of trip costs
- Be reimbursed on approved claims to your phone’s wallet
Cons:
- Only offers one plan option
- Does not offer add-on coverage for accidental death and dismemberment
2. Travelex:
| Average Cost | Medical Expense & Evacuation Max | Trip Interruption % |
| $212 | $50,000 | 150% |
Pros:
- Travelex offers low-cost coverage
- Includes free 24/7 travel assistance services
- Extends $200 in frequent traveler benefits for cancellations
Cons:
- Lower-than-average coverage limits
- Must purchase higher-value coverage for trips longer than 30 days
3. Seven Corners Travel Insurance:
| Average Cost | Medical Expense & Evacuation Max | Trip Interruption % |
| $216 | $500,000 | 150% |
Pros:
- Inclusive policies for student travelers
- Seven Corners Travel insurance may cover preexisting conditions
- Offers medical insurance for travel to the U.S.
Cons:
- Hurricane and inclement weather coverage has a longer delay period compared to some competitors
- The Choice Plan does not include coverage for security or political evacuations
4. AXA Assistant USA:
| Average Cost | Medical Expense & Evacuation Max | Trip Interruption % |
| $230 | $250,000 | 150% |
Pros:
- AXA Assistance USA has high coverage limits
- Extends coverage for losses related to recreational activities
- All plans cover airplane accidents
Cons:
- Higher-than-average premium costs
- Must purchase CFAR upgrade within two weeks of your first trip payment
5. Generali Global Assistance:
| Average Cost | Medical Expense & Evacuation Max | Trip Interruption % |
| $230 | $250,000 | 150% |
Pros:
- Generali Global Assistance offers comprehensive travel insurance policies
- Select plans include coverage for sporting equipment loss and delay
- Three tiers of coverage available with most plans
Cons:
- More expensive coverage compared to other providers
- Extends low reimbursement rates for CFAR coverage
6. Nationwide Travel Insurance:
| Average Cost | Medical Expense & Evacuation Max | Trip Interruption % |
| $230 | $250,000 | 150% |
Pros:
- Nationwide Travel Insurance has specific plans available for cruise vacations
- Includes work and school interruptions as standard protections
- Plans include 24-hour emergency assistance
Cons:
- Medical coverage limits are lower-than-average
- The basic policy includes lower-than-average trip interruption coverage
What is the cost of travel insurance for college students?
Student travel insurance typically costs $154. However, the main element affecting the cost of your travel insurance policy will be the entire cost of your trip. The more valuable your trip is, the more your insurer will have to pay out if you make a claim.
For students who often travel on a tight budget, this may result in lower costs for travel insurance. Younger travelers may also find medical coverage more reasonable because they are less likely to require extensive medical care abroad.
Enlisted below is the estimated quotations for the following excursions to provide accurate example pricing:
- A 19-year-old taking a 7-day, $4,000 trip to Mexico
- A 21-year-old taking a 5-day, $1,200 cruise in the Bahamas
- A 20-year-old taking a 9-day, $5,000 trip to Italy
- A 22-year-old taking a 2-week, $6,000 trip to France
- A 20-year-old taking a month-long trip to Europe (visiting the UK, Ireland, France, Spain and Greece) costing $8,000
What are the factors that impact the cost of travel insurance for students?
The following are some variables that may impact the price of student travel insurance:
1. Destination:
Depending on your travel plans, the price of travel insurance may change. Your premium may be impacted by certain places’ greater costs for medical care or evacuation.
2. Journey duration:
The duration of your journey may have an impact on the price of your travel insurance. Your premium will increase as the length of your trip increases.
3. Age:
The cost of travel insurance may also be impacted by the age of the policyholder. Due to a higher risk of health problems, older travelers may pay higher premiums.
4. Preexisting medical conditions:
The price of travel insurance may increase if you have any preexisting medical illnesses. The severity of your condition may require you to pay a greater premium.
5. Cost of trip:
Costlier trips will have higher insurance premiums because possible reimbursements are based on the cost of the trip.
6. Deductible:
Your payment may be reduced if you select a travel insurance plan with a deductible. However, before insurance coverage begins, you will be required to pay the deductible.
Is it worth having travel insurance for students?
Since students are more likely to be younger and insure less expensive excursions, student travel insurance is frequently affordable. Students are less likely to need to file a claim because of both of these characteristics, which lowers your insurance premium.
It may be worthwhile to think about purchasing travel insurance if you’re organizing a more expensive vacation or if it will take a lot of time to organize.
The first step in locating the most economical student insurance is determining your needs. Check your visa requirements before purchasing coverage if you want to study abroad for longer than a few weeks.
Before making a purchase, review each company’s policy documents and obtain quotes from at least three different suppliers to determine which provides the best deal.
How to save money on travel insurance for students?
If you are trying to save money on your student travel insurance plans, there are a few things to remember. They are:
1. Buy travel insurance for students online:
Buying the best student travel insurance online is always easier and more convenient than buying it online. After carrying out thorough research, it can help students save money and get amazing discounts and offers.
2. Analyzing the risks involved:
Students should assess the safety and health risks associated with the study destination they will be traveling to. If the place is risky, students can choose a cheap health plan.
3. Buying an insurance as soon as the trip is booked:
The closer the student is to the trip, the higher the cost of insurance will be. As soon as the admission is confirmed, students should purchase their student travel insurance online. This way, they can get the lowest premiums and maximum insurance coverage.
4. Choosing the correct deductibles:
A deductible is a per-decided amount that students should pay when they file for a claim before their insurer covers the rest of the amount. Students should ensure that they choose a deductible based on what fulfills their student travel insurance expectations.
Frequently Asked Questions:
1. Do students need travel insurance?
Large medical expenditures may result from receiving excellent medical care abroad. Without a solid insurance plan, students frequently might not be able to acquire the medical care they require. This explains the importance of student travel insurance. In an emergency, it will enable you to receive the high-quality care you require.
2. How can college students afford to travel?
By taking advantage of study abroad opportunities, saving money consistently throughout the year, and planning vacations during off-peak times, college students may afford to travel. To travel abroad without breaking the bank, students may also want to look into inexpensive lodging options like hostels and low-cost flights.
3. When should you buy travel insurance for students?
If you intend to spend a particular amount of time studying abroad, it is wise to purchase student travel insurance. To continue your study abroad, you must purchase student travel insurance before you depart the country.
4. What are the benefits of a student travel insurance policy?
For students, a student travel package provides excellent advantages and security. There are several risks that students are exposed to when studying overseas. Among many other things, this policy provides coverage for medical expenses, unintentional injuries, theft, lost passports and luggage, and legal defense. These perks guarantee a student complete peace of mind while studying abroad.
5. What is a deductible?
Under this travel insurance policy, “deductible” refers to a cost-sharing provision that states that the insurer will not be liable for a predetermined amount of money or a predetermined period of days or hours. This requirement applies before the insurer pays any benefits. The Sum Insured is not decreased by a deductible. By bearing a set amount of the loss on your own, a deductible is crucial since it effectively turns you into a co-owner of the policy.
Conclusion:
There are many obstacles for young students studying abroad. First of all, you’re finding it difficult to get used to all the variations in the nation you’ll be living in for a few months or years. Second, you have to carefully control your living expenses because you’re always on a limited budget. Under such circumstances, it can lead to needless stress if a health problem arises or if another issue prevents you from studying overseas.
If you have an unplanned emergency while studying abroad, student travel insurance may might save your life. In addition, the majority of international colleges require medical insurance to meet admission requirements.
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