You have your flight and hotel booked, you’ve planned out everything you’re going to do in the city you’re visiting, and you’re ready to go abroad and study abroad – but did you buy travel insurance? If not, why not? And if so, why do you need it? Here are five reasons that international students need travel insurance while they are studying abroad.
1) Why do you need travel insurance?
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I once traveled abroad with a group of 80 students, none of whom had travel insurance. A handful ended up needing medical treatment when they were in Europe, and their costs ranged from $40,000 to $60,000. This is not meant to scare you into purchasing travel insurance, but rather to remind you that an emergency can occur anywhere and at any time (for example, you could get food poisoning while studying abroad). Without travel insurance and without health insurance in your home country, you may end up facing steep medical bills on top of paying for your trip and tuition fees. So if you’re traveling abroad, get travel insurance! Even if you think it’s unnecessary.
In fact, especially if you think it’s unnecessary, because it will make sure there are no surprises when something does go wrong! There are many different travel insurers out there, but most offer very similar plans, so shop around until you find one that offers good coverage at a fair price! And remember: some policies exclude certain countries, so be sure to check before you buy!
2) Types of travel insurance policies
When you purchase travel insurance, you’ll have to select from among dozens of different types of policies. For example, do you want medical coverage as well? What about trip cancellation insurance or travel delay protection?
Do you need a policy that covers things like lost luggage or travel cancellations due to civil unrest? It’s important to understand all your options and decide what is best for your personal situation.
Here are some common types of travel insurance: Emergency Medical Coverage: It covers expenses associated with emergency care when traveling abroad, such as an air ambulance home if necessary.
Trip Cancellation/Interruption: Provides reimbursement if you must cancel or interrupt your trip because of unexpected circumstances beyond your control (like sudden illness). Reimburses expenses incurred by travel delays lasting more than 12 hours caused by factors out of your control (like bad weather). Lost Baggage/Delayed Luggage: Pays for essential items not covered by standard baggage-loss compensation plans, including clothing and toiletries.
3) What does student travel insurance cover?
Most of us have heard a horror story or two about studying abroad and needing medical attention, only to find out that their health plan doesn’t cover them outside of their home country. Even if you have health insurance in your home country, you should consider purchasing travel insurance when studying abroad because it can provide much more coverage than just medical. Travel insurance also covers cancellations, lost luggage, and stolen belongings; these are all things that most basic policies don’t typically cover.
Purchasing travel insurance for your trip helps ensure you’re covered for more than just your physical well-being; it also helps make sure everything else goes as planned. It’s not worth taking a chance on something like travel insurance.
Protect yourself with student travel insurance before your departure date so you don’t get stuck paying hefty hospital bills after returning from abroad. Skipping Travel Insurance Could Be Costly Many students think that if they already have some form of health care back home, then there is no need for travel insurance. While having some type of policy in place is definitely important, even having a few hundred dollars’ worth of coverage could save you thousands down the road should an accident occur while traveling abroad. Let’s say you slip on ice in France and break an arm; an ambulance ride to get treatment will cost several hundred dollars alone!
4) How much does it cost?
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The cost of travel insurance depends on what you need and how long you’re travelling for. There are two main types of insurance: single trip (unlimited duration) and annual travel (90-day limit). The latter is more expensive, but it might suit students returning to their home countries during school breaks. There are no hard and fast rules about what covers what, so make sure to read up on your policy well before you leave—you might be surprised at what’s included! In general, travel insurance will cover theft, loss or damage to luggage; medical expenses; emergency assistance; and personal liability. It may also cover cancellation fees if you have to cancel a flight due to illness. Travel insurance can be purchased at any time before leaving for your trip, so don’t worry if you haven’t sorted it out yet! One thing that’s worth checking, though, is whether your existing health insurance will provide coverage while traveling abroad.
Many policies won’t, so it’s worth checking with them first. Finally, remember that travel insurance doesn’t replace a good old-fashioned contingency fund! While travel insurance does its best to protect against emergencies such as cancelled flights or lost luggage, it doesn’t replace money spent on things like hotels when there are unexpected delays’ en route. Make sure you have enough cash set aside for these kinds of situations–especially if you’re planning an adventure in an emerging country, where there may not be many ATMs around!
5) Purchase travel insurance with no or few medical questions.
Being prepared for anything is never a bad idea, and when it comes to insurance, traveling overseas is no exception. Many foreign countries don’t have laws governing foreign students, so your travel insurance policy may not cover you if you get sick or injured while studying abroad.
Travel insurance providers are required to offer policies with a medical questionnaire of zero questions or fewer to customers; these policies will cover you no matter where you decide to study abroad—the exchange rate doesn’t matter, either. It’s worth looking into before your trip because being able to contact an insurer 24/7 can mean life or death in some situations.
For example, what happens if you end up in an emergency room in a foreign country? Your local health plan probably won’t be much help since you’ll likely be thousands of miles away from home, so look into travel insurance UK companies that allow zero medical questionnaires. This could save you thousands of dollars on medical bills. It’s definitely worth checking out before your trip! Studies show that most people overestimate how long they’ll live (in other words, they believe they’ll live longer than average), but few realize just how dangerous it can be for their finances.
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