Common Travel Insurance Mistakes Students Make and How to Avoid Them
Every student wishes to study abroad at least once in their lifetime. It’s exciting to think about the journey ahead, but remember that studying abroad will come with a lot of challenges. The most important aspect of planning the journey should be to consider trip insurance coverage, which is often overlooked by students.
Let’s see what student travel insurance is and what mistakes students make while purchasing it.
What is Student Travel Insurance?
Travel insurance companies have a specific type of insurance to support students on their journey abroad, which is referred to as student travel insurance. Travel insurance for students protects against a variety of unexpected events, including delayed flights or baggage, lost or stolen luggage, and more.
What does Travel Insurance for Students Cover?
Travel insurance is a safety net that protects students from unforeseen events during their journey. Travel insurance for students provides coverage for the following :
- Medical Coverage: If students fall sick during their journey abroad, travel insurance will act as a shield and provide coverage for medical expenses, including doctor consultations, room rent, prescription drugs, OPD coverage, and emergency evacuation if needed.
- Coverage for Pre-existing Diseases: Travel insurance policies usually do not include coverage for pre-existing diseases. However, student travel insurance provides coverage for pre-existing conditions.
- Extended Coverage: Students can purchase travel insurance for extended periods ranging from one month to three years.
- Delayed Flights: If the flight is delayed due to bad weather conditions such as thunderstorms or fog, the insurance company will compensate the student for it.
- Lost or Stolen Luggage: If a student loses or has their luggage stolen, travel insurance will compensate them.
Eligibility Criteria for Student Travel Insurance
To enjoy the benefits of a student travel insurance plan, students must carefully review the eligibility criteria and policy terms set by insurance companies before enrolling in the plan.
- Students must be enrolled in recognised universities
- They should be between the ages of twelve and forty
- They must have a valid proof of enrollment and a travel itinerary
Mistakes Students Make While Purchasing Travel Insurance
Students make various mistakes when purchasing travel insurance. Some of the most common ones are listed below:
- Not reading the insurance policy carefully
- Not disclosing accurate information
- Choosing the wrong plan
- Choosing the cheap plan
- Not fixing the coverage
- Not collecting the bills and receipts
How to Avoid Mistakes When Purchasing Travel Insurance?
As previously discussed, there are several common mistakes that students make when purchasing travel insurance. Let’s see how to avoid them.
- Not reading the Insurance Policy Carefully: The most common mistake students make while purchasing travel insurance is not reading the terms and conditions of the policy. Students must understand what is covered and not covered under their insurance policy. Doing this helps avoid any disputes.
- Not Disclosing Accurate Information: Students frequently fail to disclose accurate information to their insurer, even though the insurance company has the authority to cancel their policy if they are caught concealing important information.
- Choosing the Wrong Plan: Students tend to prioritise the cost of the plan over its significance to them. They opt for the incorrect plan solely because the insurance company is offering it at low prices.
- Choosing the Cheap Plan: Some insurance companies provide lower premiums with limited benefits. Students fall for the insurer’s trap of offering low premiums. Hence, they must consider the insurance policy beyond its cost and choose one that offers comprehensive benefits without exceeding their budget.
- Not Fixing the Coverage: Before finalising their insurance plan, students must ensure that the coverage is fixed. Fixing the coverage involves financing deductibles, co-payments, and premiums.
- Not Collecting the Bills and Receipts: Students should keep track of all bills and receipts they receive on their journey. This helps them when filing claims because they serve as evidence.
Wrapping Up
Travel insurance for students covers a wide range of expenses, including hospitalisation, delayed flights, baggage, medical emergencies, and pre-existing conditions, which are typically excluded from insurance policies. When considering an insurance policy, students should carefully read the policy documents and ensure it fits within their budget.
A student looking for an affordable travel policy insurance partner should consider the Niva Bupa Travel insurance plan. They cover every possible risk that students might face during their journey, such as delayed flights, baggage or stolen luggage, and more. Head onto their website to explore the travel insurance options.
