Health insurance
International students studying in Australia must have adequate arrangements in Australia for health insurance. Australia has a special system of health care cover for international students. This is called Overseas Student Health Cover (OSHC) and you are required to have this for the duration of your student visa in Australia.
Travel insurance
Chances are pretty good that your trip will go smoothly and you won’t encounter any problems. Even so, you should plan for the unexpected. Cancelled flights, lost luggage and wallets can end up costing you a lot of time and money, so take out travel insurance before you leave. It won’t guard against bad things happening, but it will protect you against having to cover unexpected costs.
Don’t forget to take your travel insurance documents (and copies) with you when you travel. This documentation provides you with information and emergency contact numbers to use if you need to make an insurance claim.
Some providers of Overseas Student Health Cover (OSHC) offer travel insurance as an addition to your basic policy. You must make arrangements specifically for travel insurance – it will not be covered by your basic OSHC health policy.
Other forms of insurance
Students in Australia are responsible for their own accident and property insurance.
If you plan on buying a car in Australia, you must take out Compulsory Third Party insurance to cover any damage you may do to other vehicles. It is recommended that you also purchase insurance to cover accidental damage to your own car.
Migration regulations in Australia require international students to show evidence that they can contribute to the cost of living and studying in Australia. This helps to ensure students are better able to make the most of their studies and have a safe and enjoyable experience in Australia. While international students are able to supplement their income with money earned through part-time work in Australia, the ‘living costs’ requirement helps to support the success of students in their studies by ensuring that they don’t have to rely on such work to meet all their expenses. From 1 Julyy 2012, the basic rate of living costs under the Migration regulations increased. Under these regulations prospective student visa applicants and their family members must have access to the following funds to meet the living costs requirements: A$18,610 a year for the main student; A$6,515 a year for the student’s partner; A$3,720 a year for the student’s first child; and A$2,790 a year for every o...
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