Travel insurance is a cover for the risks you might face in your trip, overseas or domestic. Travel insurance can help cover medical expenses or financial losses you might incur while traveling. It's often pitched as the best protection for those traveling domestically or overseas.
In case you need to cancel your trip for valid reasons prior to your departure, it will reimburse you your pre-paid non –refundable portion of your trip cost. If you have purchased the travel insurance sufficiently in advance of your trip and very close to your initial trip deposit , many travel insurance plans, most at higher premium, will let you upgrade to cancel for any reason.
In case you need to return back home from your trip early due to covered reason such as your houses is on fire or flooded or your close relative passed away , it will help you pay for additional expenses to make arrangements to return home early.
If you were to get sick or injured while you are on trip travel insurance will pay for the expenses, your domestic health insurance you may not cover you outside your home country, or may provide limited coverage or it may be subject to higher deductible and higher coinsurance and higher out of pocket maximum.
Various policies may cover things such as loss of checked luggage, baggage delay up various amounts. Some policies may just pay for the additional expenses you incur due to the fact that you lost your luggage and pay for reimbursement of those items and ask you to collect the payment from the travel provider(Such as Airline) because they lost your luggage
This coverage would apply in case you were pass away in an accident or were to lose one or two limbs (dismemberment) in an accident.
There may be other benefits such as travel delay, assistance services, emergency cash transfer, concierge services, ID theft protection, rental car coverage, flight accident etc. They may vary among various policies.
The Student Secure plan provides international student health insurance to both international and study abroad students who are studying outside of their home country either in the USA or around the world. This comprehensive student health insurance plan offers coverage on a monthly basis that will meet and exceed nearly all school and government requirements, and for those students on the J1 and F1 visa (even those on OPT) you are automatically eligible for coverage.
The majority of study abroad programs require you to purchase insurance prior to traveling. Study abroad programs most commonly require you to purchase international health insurance, but may also require you to buy emergency medical expense and evacuation insurance, trip-cancellation insurance, travel assistance insurance, and/or academic program insurance. You can typically purchase these types of insurance individually or as parts an all-inclusive package. While insurance plans can be expensive, whether purchased individually or as part of an all-inclusive package, they are inexpensive compared to the expenses that emergencies, unexpected changes, and cancellations can produce. Therefore, while study abroad programs may only require you to buy international health insurance, you might also want to consider purchasing other types of insurance. Again, the various types include
International health insurance: This is health insurance that typically supplements the health insurance you hold in the United States. If you don’t have health insurance, it may serve as your sole insurance while you’re studying abroad.
Emergency medical expense and evacuation insurance: This is health insurance that typically covers emergency care and emergency evacuations to medical centers with higher quality or preferred medical care.
Trip cancellation insurance: This is insurance that typically covers the costs of travel and program expenses when trips or program components are cancelled, changed, or delayed through no fault of your own.
Travel assistance insurance: This is insurance that typically provides you with economic and logistical support in various emergency and non-emergency situations abroad.
Academic program insurance: This is insurance that typically reimburses you the costs of tuition if you are involuntarily withdrawn from your studies because of circumstance out of your control. This type of insurance is also known as tuition insurance.
Each of these types of insurance can benefit you while you’re studying abroad and protect you in the event of unexpected illnesses, emergencies, changes, and/or cancellations. To discuss insurance requirements, and to determine what types of insurance might be best for you, talk to a counselor or administrator in your study abroad program. Ask them for guidance in determining how much insurance to buy and from whom.