Student Travel Insurance: When to Apply & Best Companies

Student travel insurance
Home » Education Loan » Student Travel Insurance: When to Apply & Best Companies

Students take education loans from banks to fund their higher studies and cover tuition fees and accommodation expenses. Amidst all these, student travel insurance is one such expense that they tend to overlook. It is important to prioritise safety and international travel well-being. 

Thus, ensuring travel insurance helps you overcome unforeseen circumstances like lost baggage and other medical emergencies. Let’s check the details related to student travel insurance and the best places to take it.

What is Student Travel Insurance?

Student travel insurance is a policy that is designed to cover unforeseen expenses that might arise during student travelling for academic purposes. It includes medical benefits such as coverage and protection for illnesses or accidents during journeys, lost baggage, or stolen belongings.

In case of any of the above-uncalled events, the insurance company provides reimbursements. These also include coverage for trip cancellations or interruptions. Taking student travel insurance is equally important as education loan insurance as it provides peace of mind and financial protection when taking a step towards their academic journey.

Also Read: If you wish to apply for an education loan through fresh application, check out the details of Bajaj Finserv personal loan for education.

When to Apply for Student Travel Insurance?

Knowing how important it is to take a student’s travel insurance, students mustn’t wait too long until the last minute. It is ideal to purchase and get the travel insurance policy in advance before each trip.

  • Getting student travel insurance before your departure is best to ensure coverage before your trip begins.
  • This helps safeguard you and your luggage against any sudden circumstances that may arise during your trip.
  • Always consider taking a travel policy before every trip. You can consider reviewing and renewing a student travel insurance that suits your needs and budget.

Best Student Travel Insurance Companies

Taking student travel insurance from trusted sources saves you from fraud and the hassles of complicated processes to avail of reimbursements. Thus, it is advisable to purchase a student travel insurance policy from a trusted provider. We have compiled the list of the following-

Travelex

One of the best and most affordable student travel insurance policy providers is Travelex. It provides low-cost coverage with 24/7 travel assistance services. The best part is that it extends USD 200 in frequent travellers benefits for cancellations. Besides, students can also consider currency exchange with Travelex for all their needs in one place.

Faye

Faye is one of the top-rated student travel insurance policy providers. It offers quick and online quotes for purchasing a travel policy. It pays up to USD 200 if the student’s luggage is delayed for six or more hours. 75% of the trip costs are also covered by Faye for trip cancellation due to any reason.

Seven Corners Travel Insurance

It offers inclusive policies for students and provides them with satisfactory travel insurance. This also helps you cover preexisting conditions. Seven Corners Travel Insurance also offers medical insurance for travel to the USA.

Generali Global Assistance

Generali Global Assistance offers comprehensive travel policies for students as well as leisure travellers. Three tiers of coverage are available with most plans. Students can select plans as per their requirements and budget.

Also Read: Check out the major details of SBI RinN Raksha for education loans. Learn about its features, advantages and how to apply.

Tata AIG

Student travel insurance policy by Tata AIG provides you with safety and comfort during travel. It offers cover for accidents, illnesses, and lost, stolen, damaged, and delayed luggage. The best part is that the students have to pay the premium in INR but are covered in USD. Their student travel insurance policies start at INR 41.33 per day.

Bajaj Allianz

Bajaj Allianz offers many plans, including student travel insurance and Bajaj Allianz’s international health insurance for international students travelling to Australia or any other country. They offer three different types of plans- student companion plan, student elite plan, and student prime plan. The duration of the insurance is up to 1 year but can be extended.

Reliance General

One of the most trusted student travel insurance policy providers in India is Reliance General. It provides coverage against passport loss, baggage loss, study interruption cover, medical expenses cover, bail bond cover, accident cover, etc. With four different plans, they provide assured sum insurance from USD 50,000 to USD 500,000. Each plan can be purchased for up to 2 years.

ICICI Lombard

With ICICI Lombard, a student travel insurance policy covers medical and trip-related coverage for a worry-free experience during the journey. They offer comprehensive coverage plans at pocket-friendly prices and cashless hospitalisation worldwide. You can customise your travel insurance plan to suit your university requirements.

What Does Student Travel Insurance Cover?

Student travel insurance provides coverage for various unforeseen, medical, and sudden circumstances during a student’s journey abroad. It includes medical benefits such as coverage and protection for illnesses or accidents during journeys, lost baggage, or stolen belongings. Here’s the list of things that student travel insurance covers-

  • Medical Expenses

– Always there, just in case, is the coverage for medical treatment for illnesses or accidents.
– Vouchers for medical, surgical, pharmaceutical or hospital services incurred overseas.  nouns.
– Provision for medical care refund in the student’s home country, if the student is evacuated due to illness.

  • Emergency Assistance

– Coverage for emergency dental expenses.
– The plans on a companion’s travel and accommodations cost in case the student is admitted to the hospital.

  • Baggage and Personal Belongings

– Insurance for the loss, damage, or theft of the baggage and personal luggage.
– The reimbursement will be limited up to some point for valuables, sports equipment and electronics. 

  • Trip Disruption

– Insurer (LP) will cover the costs resulting in trip disruptions, postponements, and/or cancellations.
– Emergency as well as long-term food and shelter provisions while people are waiting or in a crisis. 

  • Personal Liability

– Protection from personal liability claims that might be raised because he had caused injury or property damage to other people.
– Claimant will cover those consequential losses up to an insured amount. 

FAQs

What is student travel insurance?

Student travel insurance is a policy that is designed to cover unforeseen expenses that might arise during student travelling for academic purposes. It includes medical benefits such as coverage and protection for illnesses or accidents during journeys, lost baggage, or stolen belongings.

What does a student travel insurance cover?

Student travel insurance provides coverage for various unforeseen, medical, and sudden circumstances during a student’s journey abroad. It includes medical benefits such as coverage and protection for illnesses or accidents during journeys, lost baggage, or stolen belongings. 

What are some of the best student travel insurance companies?

It is advisable to purchase a student travel insurance policy from a trusted provider. Some of the best companies for student travel insurance are Travelex, Faye, Tata AIG, Reliance General, Acko, ICICI Lombard, and Seven Corners Travel Insurance.

When should I apply for Student travel insurance?

Students mustn’t wait too long until the last minute. It is ideal to purchase and get the travel insurance policy in advance before each trip. This helps safeguard you and your luggage against any sudden circumstances that may arise during your trip.

Is it worth taking student travel insurance?

Student travel insurance is one such expense that many tend to overlook. However, it is important to prioritise safety and international travel well-being. Thus, ensuring travel insurance helps you overcome unforeseen circumstances like lost baggage and other medical emergencies.

To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.

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About Shubhika Garg

Hey there! I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.

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