Difference Between Student Travel Insurance and Travel Insurance

A standard or international travel insurance policy covers the travel-related expenses of the insured.

Travel Insurance

Travelling is one of the most exciting and rewarding experiences, but it comes with many uncertainties that can cause significant mental and financial stress. From flight cancellations and loss of baggage to medical emergencies and third-party liabilities, anything can happen during the trip. These unexpected events can impact your journey, especially when you are touring a different country or travelling abroad for education. Keeping travel-related contingencies in mind, it is wise to stay covered under the right travel insurance policy for financial security and peace of mind.

The insurance companies in India offer a variety of travel insurance plans tailored for different types of trips, international and student travel insurance being the two primary types. If you are curious about how these policies differ in terms of benefits and coverage, we will explain it in this article.

What is a Student Travel Insurance Policy?

A student travel insurance policy is an insurance product designed for students who travel abroad for educational purposes. This includes studying overseas or participating in internships or exchange programs.

A student travel insurance policy offers wide coverage to policyholders and ensures financial security against unforeseen events. The policy coverage includes the following-

Emergency medical expenses: If you get hospitalised due to ill health or an accident, the insurer will cover your medical bills. This insurance product also covers medical evacuation and repatriation of the policyholder’s mortal remains.
Travel-related expenses: The policy also covers loss of checked-in baggage, Passport, etc.
Loss of personal belongings: A student travel insurance policy also covers the loss of personal belongings, such as expensive electronic gadgets, study materials, and more.
Trip-related coverage: If your trip gets cancelled or interrupted due to flight cancellation or delays, a family or medical emergency, or any other valid reason, the insurer will cover the same.
Study interruption: If your study gets interrupted due to an accident, illness, or death of a family member, the insurer will reimburse the unused tuition fee.
Sponsor protection: In case of death or permanent disability of the sponsor, the insurer will reimburse your tuition fees incurred for the remaining period of education.
Other coverage: The policy also covers compassionate visit expenses of an immediate family member, bail bond, and more.

What is a Regular Travel Insurance Policy?

A standard or international travel insurance policy covers the travel-related expenses of the insured. The policy covers business as well as leisure trips.

The coverage of a travel insurance policy includes the following-

Emergency medical expenses: The policy covers emergency hospitalisation, dental expenses, personal accident, medical evacuation, and more.
Flight cancellations and delays: If your flight gets cancelled or delayed, the insurer will reimburse the money spent on buying essentials.
Loss of baggage: In case of loss or delay in the arrival of checked-in baggage, the insurer will cover the costs of purchasing essential items, such as clothes and toiletries. The policy also covers the theft of baggage and its contents.
Trip cancellation: If you must cancel your trip due to an unforeseen situation, the insurer will refund the pre-booked accommodation bills. The policy covers trip curtailment as well.
Emergency hotel accommodation: If you must extend your trip due to a medical emergency, the insurer will cover your hotel bills for the extended period.
Other inclusions: The policy also covers third-party liabilities in a foreign country, loss of Passport or international driving license, and more.

Difference Between Student Travel Insurance and Travel Insurance

The following are the differences between student travel insurance and a regular travel insurance policy-

Parameters	Student Travel Insurance	Travel Insurance
Target audience	Student travel insurance is designed for students travelling abroad for educational purposes.	Travel insurance is for business or leisure travellers. This insurance product does not focus on the educational needs of a student.
Policy coverage	This insurance product covers emergency medical expenses, personal liabilities, lost luggage and Passport, study interruption, and more.	A travel insurance policy covers medical emergencies, flight delays and cancellations, lost luggage, loss of Passport, etc. It does not cover study interruptions and associated expenses.
Medical coverage	A student travel insurance policy covers treatment for mental and nervous disorders, sports injuries, pre-existing conditions, and more to ensure quality medical care for students staying away from home.	A regular travel insurance policy covers only the emergency medical expenses of the policyholders.
Academic interruption coverage	If the covered student must return home due to an illness, injury, or family emergency, the insurer will reimburse the unused tuition fees.	A travel insurance policy does not offer coverage for academic interruption.
Coverage duration	The duration of this policy is a semester or the entire academic year.	This travel plan covers short trips. The duration may be a few days or a few weeks.
Cost	Student travel insurance is affordable when compared to a regular one. Although the coverage duration is long, the cost is comparatively affordable.	The cost of a regular travel insurance policy depends on various factors, such as the age of the travellers, destination, trip duration and coverage requirements.

Conclusion

Whether you choose a student travel insurance policy or a regular one, remember to review the coverage details and policy exclusions and make an informed purchase decision. The right travel insurance protects against uncertainties and saves you from unplanned expenses. If you experience a covered event while travelling, your insurer is just a call away to provide assistance.

Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.

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