KGY Tips

Insurance for Gapyear

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For those of you who are planning to take a gap year, getting travel insurance is one of the steps you need to prepare. However, most travel insurance is designed for people who are planning a vacation or students who are going on a trip or language course, rather than for a gap year.

When signing up for overseas travel insurance, you can choose the necessary coverage period, compensation items, and subscription amount as a priority.

In addition, there are various items for damages that are compensated and damages that are not compensated, so you need to check carefully.

Let’s take a look at which insurance products for gap years are necessary.

Things that must be included in insurance

Duration of stay
When considering the ‘duration’ of the insurance product you want to sign up for, it is based on the period of stay. In other words, regardless of the period of insurance policy, you should first consider whether it covers the entire period of your stay abroad.
For example, if you are traveling for a year, a 3-month product is meaningless. Please carefully consider the period of your stay and the period of validity of the insurance.

Working Abroad
If you are planning to work abroad during your gap year, you should check whether the activity will invalidate your insurance policy. You should also check whether the insurance covers physical injuries that occur at work.

Insurance by Activity
If you are planning to participate in sports activities or other external activities that may cause physical injury during your gap year, you should be more careful about insurance. For example, if you are traveling, participating in sports activities such as surfing, mountaineering, or skiing, or receiving training, you should know in advance how to deal with and compensate for physical injuries. Please note that dangerous activities such as skydiving or mountain climbing are not covered, so please carefully check the relevant information.

Health Insurance
Each country has different options for whether or not you can receive free health insurance. Therefore, there may be differences in the price of medical expenses. Therefore, you should check the insurance premiums in advance and check whether it covers you if you plan to engage in risky activities.

Customized Insurance
During your gap year, you can participate in activities such as physical activities (outdoor activities such as sports), internships and work, and volunteering. Some gappers participate in one of each, while others plan to participate in all three activities. That is why it is important to purchase customized insurance that appropriately reflects your situation and conditions.

Things that must be included in insurance

Insurance premiums
Generally, overseas travel insurance is mostly expiratory insurance, so the subscription period is short, so the insurance premiums are cheap, ranging from a few thousand won to 10,000 to 20,000 won. However, in the case of gap years, since you participate for more than a month, the price is set higher. Since the prices are different for each insurance company, it is important to choose an insurance product that is right for you according to your conditions. Since each insurance company provides different services, we recommend that you research them carefully!