I will be traveling to Germany soon for my master’s programme, and I already have campus insurance coverage as part of my enrolment. However, I am considering whether I should also opt for student travel insurance to provide additional coverage for potential risks during my time abroad. Could you help me understand the key differences between the two? Specifically, I’m interested in how each type of insurance handles situations such as medical emergencies, trip cancellations, lost baggage, and other unforeseen events that might arise during my stay. Are there any specific add-ons or optional coverages that you would recommend to ensure that I have comprehensive protection while studying abroad?

– Jitender Kaushik

It’s wonderful to hear that you’re planning to pursue your master’s in Germany and understand the importance of insurance. This reflects your foresight, especially as studying abroad often comes with financial strain. With the significant expenditure incurred on college fees, accommodation, food and utilities, visa fees, books and supplies, and flight tickets the last thing anyone wants to deal with in a foreign land is an unexpected medical emergency. Thus, most colleges/universities abroad recommend that students must purchase medical insurance. Students often choose the insurance policies endorsed by their colleges. While these policies are generally comprehensive, they may not always be the best fit for international students, including those from India and other countries.

Usually, the university-specific insurance plans offer coverage exclusively for students, that too while they are inside the university campus or within the host country’s borders. However, buying a student travel insurance is highly recommended as it provides a broader range of protection offering a combination of medical insurance and travel insurance enabling students to travel worry-free giving them peace of mind.

A student travel insurance provides global coverage for various expenses. During your stay tenure you might have to travel to other countries for research or course-related work or you might use your vacations to explore nearby countries and experience new locations. Student travel insurance covers unexpected incidents like health emergency while travelling, which may not be included in campus-offered insurance policies. It would also cover any pre-existing diseases and additional medical expenses, such as repatriation and so on. Also, a student will have a wider network of hospitals to choose from however, the campus insurance may cover the medical expenses incurred only within Germany and its scope may be limited to treatment within the university linked hospitals.

A student travel insurance policy from India is specifically tailored to meet the needs of students to help them navigate any emergency like covering trip cancellations or interruptions for a variety of reasons, including student’s illness, injury, or a family emergency. In case, the student needs to change their travel plans due to any of these reasons, this insurance can help reimburse for the non-refundable portion of their expenses like flight, accommodation expenses, and other prepaid travel costs. Usually, campus insurance won’t cover trip cancellations or interruptions. It’s mainly focused on health-related coverage within the host country.

Student travel insurance include compensations for any inconvenience caused like baggage delay, baggage loss to stolen passport or lost laptop etc. For instance, if you’re carrying any valuable item or need immediate access to your belongings, that you lost during your journey this benefit can help you to reimburse for lost items or if your baggage is delayed for a long time. The lost baggage cover is typically not covered under most campus insurance plans. If the policy does cover any form of loss or damage to personal belongings, it may be minimal or non-existent.

Additionally, several of these plans cover benefits like compassionate visits, which cover two –way flight ticket expenses for a family member visiting the student during any emergency. In case, you might need any legal assistance while studying abroad this insurance often includes provisions for legal support. Many student travel insurance plans offer round the clock assistance services, including help with language barriers, locating healthcare providers, etc. Moreover, one can take sponsor protection add-on cover wherein if the sponsor of the student (as named in the policy) unfortunately meets with an accident resulting in his/her death or permanent total disablement or has been diagnosed with critical illness the student travel insurance plan offers financial assistance for your tuition fees as your sponsor is unable to do so.

Under the student travel insurance policy, additional add-ons for adventure sports activities, vision care, dental care, life threatening and medical conditions related to pre-existing conditions (PEDs), HIV/Self-inflicted injuries etc. are also available.

Student travel policies are also pocket friendly as compared to university offered policies. One can purchase a comprehensive plan by paying just 1 percent of their total tuition cost. For instance, if you are 25 years old and your course duration is 2 years in Germany, so for a sum insured of $ 3 lakhs the student travel insurance would cost you between ₹23,000-30,000 only.

Studying abroad comes with various risks. Thus, it is always better to be safe than sorry! While your campus insurance will likely provide basic health coverage within Germany, student travel insurance would offer a more comprehensive coverage, especially if anything wrong happens outside the country. By combining both, you can ensure a higher level of protection for both your health and financial well-being while studying abroad. Make sure to read the terms carefully to ensure the policy matches your specific needs, and consider any optional add-ons that might be relevant based on your planned activities and personal circumstances.

The writer is Joint Group CEO, Policybazaar.com