Travel Insurance is Beneficial for Your School and Students

Protect your students with the best plans for educational travel available. InsureMyTrip explains the benefits of trip insurance for your school.

Why is Travel Insurance Beneficial for Your School and Students?

As the person in charge of student travel for your school, you have a lot of details to take care of when planning student travel experiences.

Each decision you make has to be in the best interests of both your students and your school, which is why offering travel insurance products specifically designed for student trips is a smart choice.

InsureMyTrip for Education has created a number of products that are made for study abroad or domestic trips. By providing innovative coverage options to keep student safety a top priority, these travel insurance plans help you to ease parents' fears about sending their children on school-sponsored trips.

They also limit the school's financial exposure.

Safe students, confident parents, and an academic institution with limited liability and increased financial protection are all the natural outgrowth of offering a well-designed insurance plan for educational travel.

Some of the highlights of InsureMyTrip for Education's product offerings include:

Cancellation and Interruption for Any Reason (CFAR & IFAR) Coverages

CFAR and IFAR are unique optional benefits, allowing the insured to hold maximum control over their choices to go on or stay with a trip. Think of these benefits as a way to provide reimbursement for any reason outside of the named perils (perils, or hazards, are insurance language for reasons) in the policy. Although they traditionally provide a lower reimbursement level, they also allow for greater flexibility. IFAR reimburses up to 75% of unused travel arrangements and up to $5,000 per student in lost tuition. Whereas, CFAR provides up to 75% of the non-refundable trip costs including tuition (without the $5,000 cap). CFAR and IFAR benefits are available to residents of most states as long as they meet all eligibility requirements.

Broader Coverage for Cancellation and Interruption

Traditionally, travel insurance companies would exclude CDC warnings about disease outbreaks in other countries, or State Department travel warnings, from trip cancellation or interruption coverages. Under the Academic Explorer plans, you have the ability to cancel student travel when one of these warnings happens in the destination or one of the locations on an itinerary. As a covered reason for cancellation in the policy these are typically reimbursed at 100%. There is also coverage for terrorism, pregnancy after the effective date, unforeseen illness and injury of the traveler or family member, academic term extensions, civil commotion and political unrest, and many others.

Better financial protection for many circumstances

While your school may already have insurance in place that covers medical care and other liability issues while students are traveling, InsureMyTrip for Education offers options for students to be insured against trip cancellation and interruption as well. These coverages can be purchased independently of any travel medical benefits, so you can avoid redundancy, but offer an extra layer of financial protection to both the school and the families that you serve.

Written by on 4/23/15.
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