There are many great things about being a student, daytime TV and cheap booze to name but two. Another excellent perk is being able to access inexpensive options for travel, and having the time to do it. If you want to travel, you will probably not have a better opportunity than now – once you are established in your career with four weeks’ annual leave and a mortgage, you will wish you travelled in your student days!

But before you set off for your lads weekend in Amsterdam or your working summer holiday, don’t forget something you might have dismissed as boring; student travel insurance. According to the Foreign & Commonwealth Office, 28% - the equivalent of over 3 million people aged 16-30 - did not take out travel insurance for their trip. But why is student travel insurance so important?

Most importantly, student travel insurance covers overseas emergency medical expenses and repatriation costs. Don’t forget that Great Britain is fairly unusual in the world in having a comprehensive state healthcare system. As a British national travelling abroad you (or your parents) will be expected to cover your medical bills, which in some countries can run into thousands of pounds even if you’ve remembered to get your EHIC (European Health Insurance Card). But according to www.gapyear.com, backpackers still spend more time choosing a penknife for their trip than choosing travel insurance.

Student travel insurance also covers you for cancellation and curtailment of your trip. If you’ve been scrimping and saving your meagre student budget for your trip of a lifetime, you might well feel bitter if you had to cancel it or cut it short. For this reason it is important to purchase insurance for your trip as soon as you book it to give you instant protection.

There are a great many student travel insurance policies to choose from, and you might be tempted to buy the first one you see, but check carefully that it is suitable for your needs. Whilst a single trip student travel insurance policy or backpacker student travel insurance policy is ideal for one holiday or a longer trip, an annual multi-trip student travel insurance policy is better value if you are planning on taking lots of short trips. However many do not provide cover for trips lasting more than 31 days. Also check that you are covered for any adventurous activities you might be doing on your trip such as scuba diving, and especially for any employment you might be engaged in abroad – never assume that your employer has everything sorted.