An Erasmus grant offers students many possibilities, such as learning a new language, getting to know other countries and new cultures. In addition, according to the study Impact of the Erasmus grant carried out by the European Commission, the exchange programme improves the ability to enter the labour market and the mobility of professionals. In addition, according to the report, Erasmus students have an unemployment rate of 23% lower five years after graduation compared to those who did not study abroad.
In addition, Erasmus not only improves the career prospects of young people, but also gives them a broader view of life. According to the study, 40% of students who took this programme have changed their country of residence or work at least once since graduation, almost twice as many as those who did not take any European exchange during their studies.
Although Erasmus offers many opportunities, it is advisable to take out insurance for Erasmus students before making the stay abroad. In this way, the insured will be protected against many unforeseen events that may arise in the country of destination such as illnesses, accidents or even loss of luggage.
What does insurance for Erasmus students include?
Insurance for Erasmus students usually includes the same coverages as normal travel policies, however, they are focused on a young profile, between 18 and 25 years old to cover their more specific needs. In addition, their coverages extend more over time, since they are designed to cover the entire school year.
Accidents during the course
You never know what can happen during the 9 months that the academic year usually lasts in a foreign country. Therefore, insurance includes accident coverage that in the event of death or permanent disability would compensate the insured or his family with a certain amount.
Medical expenses and assistance
If you get sick and need medical care during the school year in another country, most policies include medical, surgical, and hospitalization expenses. In addition, the policy would also cover the medical transport of the injured or sick,the movement of a companion in case of hospitalization or the urgent shipment of medicines not existing abroad. On the other hand, repatriation in the event of the death of the insured person or the return of the insured person due to the death of a close relative are also usually included in this type of policy.
This coverage is very important within the erasmus student insurance, because the European health card does not cover the transfer of the patient tothe centre, the ambulance or the repatriation costs.
Liability coverage is common in almost all policies for Erasmus students. In this way, if the insured caused any type of involuntary damage, personal or material, to a third party, it would be covered by the policy. On the other hand, the insurance can also include legal defense in case of need, in addition to legal advice by telephone or the advance of the judicial bond.
Loss of luggage
Imagine that you are going to live a few months in another country and that all your clothes and personal belongings are lost during a flight. It would be a disaster. Therefore, Erasmus insurance includes coverage that protects luggage and compensates you if your belongings are lost or if your suitcase is delayed. In addition, they also usually provide help on the road.
Cancellation of the trip
Before the completion of the trip or even during its course, the insured can cancel it and be compensated for it with all the expenses with which he has had to bear, such as the ticket of the plane, the rental of the apartment or the residence, etc. However, you can not cancel the trip for any reason, but many insurers will only compensate you if you cancel the trip due to illness, death of a family member or surgery.
What should you consider before hiring it?
Before taking out the insurance for Erasmus students, it is advisable that you make sure that the country to which you are going to travel is within its coverage. In addition, it should also be borne in mind that compensation money may vary from one country to another. Normally this type of insurance includes European countries that are located within the continent, including Russia and Turkey. In addition, they can also include the countries bordering the Mediterranean, i.e. Algeria, Cyprus, Egypt, Israel, Lebanon, etc. However, it is better to check in the policy that your destination country is within the coverages.