Benefits of Student Travel Insurance
And though you may or not be familiar with travel insurance and how it helps to protect you against losses due to poor weather or loss of critical identification and moneys; student travel insurance, designed somewhat differently, is intended for young people, typically under the age of 29, who may be traveling within the US or abroad for school, i.e., an extension program, work or simply a tourist experience.
The reason such a young person would opt to purchase student travel insurance is that he | she may no longer be covered under his | her parent’s plan; desire to have some reliable source of back-up should anything go awry; and want to save a few dollars by going with a student plan versus a regular travel insurance policy which may not offer the flexibility of single event coverage.
Classifies under the heading of safety and risk management, one of the many favorable features whereas student travel insurance is concerned is that it is available for purchase on a per trip basis. Meaning, should a young person book a trip to the Galapagos Islands to study the Rainforest, he | she has the option to purchase travel insurance for that specific journey.
On average the cost of student travel insurance will equal approximately three percent of the trip’s cost. Akin to when you are at the post office and that ask if you would to insure your package for a specified percentage of the shipping cost, this cost assessment structure imposes a minimal fee to safeguard against possible issues that may arise in the future.
And for approximately three percent of the cost of your entire trip, you receive coverage in the event something negative was to occur. For instance, if the airline were to lose your luggage, on average you may be protected for $500. Should a flight delay necessitate higher fees with regard connecting flights, late hotel check-ins or ground-travel expenses these incidents would also fall under the realm of warranted reimbursements.
With student travel insurance, the insured is typically also covered against short-term cancellations; emergency medical situations; evacuations; natural disasters; acts of terrorism; and travel provider bankruptcy issues.
While certain stipulations are certain to apply. i.e., maximum length of trip (usually capped around 30 days); age limit that travelers can qualify as students; total trip cost (generally around $5,000); and verification of students’ enrollment status-student travel insurance once approved can greatly offset any unforeseen problems that may arise.
For those interested in purchasing student travel insurance and wondering the best to go about identifying a credible plan with the greatest number of benefits- the best place to start may be doing a bit of research on the Internet to find the companies which not only offer student travel insurance but also have received favorable reviews from established insurance rating agencies. The top three insurance reporting agencies are: A.M/ Best, Moody’s and Standard and Poors. Additional credible agencies include: Duff & Phelps and Weiss Research, as well as, some consumer reports publications.
In addition to looking into the reputation of the carrier offering a particular student travel insurance plan, another important step is to make a comprehensive list of the benefits which are the most important to you, i.e., loss of luggage and protections against unfavorable weather conditions. With such an inventory in hand, you can better evaluate which plan is right for you and which best meets your needs.
Another important factor to consider is the amount of coverage you are able to get in the event an unexpected event does occur. For instance, should a hotel at which you are staying suddenly experience flooding – under the plan, for up to what amount are covered.
Lastly, a very significant component to review is how claims are processed and the expediency in which they are paid out. With respect to student travel insurance, the insured will want to know that they can file via telephone or computer a claim from anywhere in the world and have it immediately handled. After careful evaluation of several plans’ procedures for remitting reimbursements and | or pay-outs, you will be better apt to make a selection.
Of course, it is not possible to imaging every possible detrimental scenario that can impinge upon your trip, yet you can take precautions to protect yourself in the event disaster does strike. And for a nominal fee (approximately three percent of your trip costs), you can arm yourself against an unwanted surprise.
In purchasing student travel insurance, a young person can focus on the adventures before him | her without having to needlessly concern himself | herself with the “what ifs” inherent in the present-day world of travel. A young person should be free to enjoy himself | herself as they venture out in the world seeing all there is to see and experiencing the wealth of cultures and diversity that exist.
