Student Travel Insurance
Student Travel Insurance
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Australians are renowned for their love of travel and it’s no different for those still immersed in their studies. According to recent data from UNESCO, over 13,000 Australians are chasing grades at institutions around the globe while finding time to see the sights.
If you’re planning to study under the brightest minds in a far-flung destination, student travel insurance can help protect your journey. As these policies can cover everything from medical bills and theft to travel delays, finding an appropriate policy for your adventure is a smart move.
What is student travel insurance?
Heading overseas for a school trip, a long-term exchange program or just a much-needed holiday? Getting student travel insurance could protect against a variety of everyday concerns. Whether you have an accident during an adventure, your laptop gets stolen or you become ill and must return home, these policies can provide protection and peace of mind.
While some students can access travel insurance through their university, these policies might only cover official study dates or include limited cover for personal travel days. With this in mind, student travel insurance from a separate provider could offer greater flexibility, enabling students to study and explore with maximum freedom.
Who is eligible for student travel insurance?
Student travel insurance isn’t necessarily just for those embarking on studies overseas. Even if you’re taking a long-awaited holiday, you could be eligible for student travel insurance. However, just know these policies might only be available to Australian citizens and permitted residents. These policies are generally open to a wide variety of students, ranging from apprentices and interns to university students, mature-age students and those booking a gap year.
How could students studying abroad benefit from travel insurance?
While studying abroad is hugely exciting, being far from home can also be a daunting experience. Student travel insurance can help cover a range of challenging situations where you could find yourself in a serious bind without it. Here are some of the best reasons to get student travel insurance before you depart.
Cover for injury and sickness:
You could face massive medical bills if you become sick or have an accident overseas. Even if you’re in a country that has a Reciprocal Health Care Agreement with Australia, there can be limitations1Services Australia – Visting the United Kingdom that student travel insurance can protect against.
Repatriation costs:
Student travel insurance can include benefits that cover repatriation costs if you need to return home because of injury or sickness. This way, you can receive treatment in Australia without worrying about travel expenses.
Lost luggage:
Losing your suitcase as a student could mean you’re without a laptop or smartphone for school. Student travel insurance can cover the cost of lost or stolen luggage and travel documents.
Public liability:
The financial ramifications of an accident can be massive. Public liability cover is included in many student travel insurance policies, helping to protect against accidental property damage or injury to another person.
Do students need travel insurance?
While it’s not usually mandatory when travelling overseas, an appropriate policy can offer numerous benefits that protect against problematic situations that hinder your journey.
How much does student travel insurance cost?
As every provider differs and the price of student travel insurance depends on the specifics of each policy, there’s no one-size-fits-all cost. Some factors that determine the cost of your policy include your destination, your age and the length of your trip. Plus, you might wish to add optional extras, such as winter sports cover, or declare a pre-existing medical condition. Factors like these can increase a policy’s costs.
While student travel insurance can have a similar cost to regular travel insurance, some providers offer students a discount on their policy. However, if you’re a frequent traveler you may also consider other policy types, such as annual multi-trip travel insurance, as it might offer a superior deal depending on your plans. Basic and comprehensive policies can also differ significantly in costs and benefits, so review the product disclosure statement to understand your purchase.
What should students consider when looking at policies?
Ready to purchase student travel insurance? Here are some important details to consider before deciding on a policy:
Your destination:
Think about your destination and how certain travel insurance policies might be more relevant than others. Are you expecting to rent a car often for weekend getaways? Perhaps a policy featuring superior rental vehicle excess protection would be a wise choice.
Pre-existing medical conditions:
You may have to declare pre-existing medical conditions when purchasing your policy. If you aren’t upfront about any health concerns, you risk your policy being deemed invalid if you have to make a claim, or your claim being denied.
Adventure activities:
All study and no play makes for a dull trip, so check the product disclosure statement for covered activities. You may need to purchase extra cover for activities like skiing, snowboarding and rock climbing.
Striking the right excess:
Would you be better off paying a higher premium and having a lower excess? This is often a good choice for longer study trips where you’re more likely to need medical treatment at some stage.
Policy limits:
Does your policy still provide cover if you visit other countries during your exchange? Is the number of personal travel days limited during the exchange period? Stay mindful of restrictions when considering student travel insurance.
Additional travel:
Are you planning on travelling more after your exchange or making a last-minute change to your holiday’s itinerary? Make sure that your policy doesn’t end while you’re still overseas, as this could leave you without cover should something happen.
Tips for purchasing student travel insurance
Choosing student travel insurance isn’t always straightforward. These tips can help you decide on a policy and potentially help you save.
Read the fine print:
Reading the product disclosure statement about a travel insurance policy is the easiest way to understand the inclusions, exclusions, emergency contacts, benefit limits and more.
Be honest:
Truthfulness about your situation and travel plans is essential, as incorrect information could invalidate any future claims. Always declare pre-existing medical conditions and the countries you intend to visit.
Buy early:
It’s a good idea to purchase your travel insurance as soon as you book your trip. This way, your pre-paid costs could be covered should something occur that causes your itinerary to change or fizzle out entirely.
Check for discounts:
Many travel insurance providers offer discounts, so checking for deals is a smart way to reduce expenses. Meanwhile, comparison services like iSelect can help you assess your options.
Increase your excess:
If you’re worried about the upfront costs of a travel insurance policy, you can usually increase the excess. This can reduce the cost of the premium, but you’ll pay more later should you need to make a claim.
What does travel insurance not cover for students?
If you’re considering working while abroad, some restrictions may apply. For example, standard travel insurance might not cover some volunteering activities.
Students should also know that any claims could be denied if they were under the influence of drugs or alcohol at the time of the incident.
You must also remain aware of any travel warnings for countries you’re visiting. Your policy might not be valid if you ignore the travel advice listed on Smartraveller.
Compare student travel insurance policies with iSelect
Excited to take your studies overseas? Student travel insurance can offer the cover you need for your adventure. Compare policies from iSelect’s range of providers to see if you can save on your expenses.