12.05.2013

Learn The Different Types Of International Student Insurance - Finance

If you are going to study abroad, there are plenty of things you need to do in order to prepare yourself for this grand adventure of your life. For one, you need to learn more about your destination's culture and customs so you don't lose your way when communicating or relating with locals. You also need to prepare yourself financially since tuition fees in other countries can be very expensive. On top of these, you need to protect yourself from unfortunate scenarios. Since it's hard to determine what those unfortunate scenarios are, you'd be better off if you equip yourself with comprehensive international student insurance. The different types of this type of coverage are discussed in detail below.

International student health insurance

This is the most important type of coverage for international students. When you're in a foreign country and you hardly know anyone, you don't have anybody to rely upon when you get sick but yourself. This is why, it's essential that you have health coverage that will take care of all medical expenses including hospital costs and doctor's fees. If you pay a higher premium, you may even get coverage of preventive check-up, dental care, medicines, and even substance abuse treatments. Check different insurers to find the one that gives the best coverage at reasonable rates.

International student renter's insurance

This type covers losses on the place rented by the student. In case of fire, natural disaster, or theft, this policy will shoulder the expenses of loses and damages. Parents often extend their policies to protect their children's possessions when they travel abroad. However, most of these plans apply only in possessions that are kept secured in a locked room. Since this is not always possible if you're an international student living in a dormitory room abroad, it would be best to get separate coverage for this.

International student liability insurance

In this policy, the holder is protected against damages, if he unintentionally damages a property or hurts someone. This is a must-have if the student is going to drive a car in a foreign country. Since different traffic rules apply, a student driver in a different land is more prone to accidents than one who drives in his own country. This makes this policy very important in such cases. It's similar to car insurance but the latter provides financial protection against damage or theft of the vehicle as well.

International student travel insurance

If you're going to study abroad, there's a big chance that you'll be traveling to and fro to your motherland to see your family and friends during holidays and special occasions. There will also be plenty of educational excursions within or out of the country. Because of this, it would be smart that you get international student travel coverage. Get a policy that has trip cancellation insurance, medical expenditure, financial protection against loss of luggage, and so on.

Be sure to include getting international student insurance in your list of things to do before you set out to study in a different country. This can help you significantly in the long run.





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