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What is Travel Insurance?


Travel insurance is one of those things that’s either a complete mystery or a lifesaver. If you’ve never bought travel insurance before, it can be hard to know what to look for and how much to get. Luckily, travel insurance isn’t just for rich peopleā€”it’s an important tool for anyone who leaves the country on vacation or on business. Travel insurance can protect you from a big financial loss if something unexpected happens on your trip, from medical emergencies to lost luggage and canceled flights. In this article we’ll go over what travel insurance is, why you need it before you leave home, how much it costs, and when it’s smart to buy coverage before leaving for your trip (hint: not always!).

What is travel insurance?

Travel insurance is a type of insurance that helps protect you against financial loss if something unexpected happens on your trip. It can help you replace lost or stolen items, pay for medical expenses and even cover your travel costs if you have to cancel your trip.

Why do I need travel insurance?

If you’re planning on traveling abroad, there are several reasons why you should consider getting travel insurance. Most importantly, it will help you avoid the financial burden of paying for medical expenses, lost baggage and missed flights yourself.

If something happens while you’re away from home (and especially if it happens unexpectedly), travel insurance can be invaluable. For example:

  • If something happens to your health while traveling abroad, who pays for your treatment? Travel insurance could cover the costs associated with being admitted into hospital or receiving treatment as an outpatient.* If someone steals or damages something that belongs to you while they’re staying at their hostel or hotel room (e.g., laptop), then travel insurance may reimburse them up to $10 million per claim.* If there’s no way around having to cancel/change flights due to illness or other reasons beyond your control then this would usually be covered under most policies purchased through us!

How much does travel insurance cost?

The cost of travel insurance is typically a percentage of the total cost of your trip. For example, if you’re traveling to Europe and spending $5,000 on airfare and hotels, then your travel insurance might be around $500-$1000 depending on what kind of coverage you need.

Travelers who want more comprehensive protection can pay more than $1,000 per person per trip for “top-tier” plans that cover everything from medical expenses to lost luggage.

When do I need to buy travel insurance?

As a rule of thumb, it’s a good idea to buy travel insurance before you book your trip. That way, if anything goes wrong and you need medical assistance while abroad, your insurance will cover the costs.

If there is any chance that something could go wrong during your trip–even if it seems unlikely–it’s worth buying insurance as soon as possible (and definitely before booking). This includes:

  • Travelling to countries not covered by your regular healthcare provider (e.g., going on holiday)
  • Travelling to countries where medical care is expensive or difficult to access (e.g., visiting an exotic location)

Travel insurance can protect you from a big financial loss if something unexpected happens on your trip.

Travel insurance can protect you from a big financial loss if something unexpected happens on your trip. It’s not just about covering medical emergencies; some policies will also help you out if your luggage is lost or stolen, or if your flight is cancelled.

Some policies have deductibles that must be met before the insurer pays for any claims made under the policy (for example, $500). In addition, there are many things that travel insurance won’t cover — for example:

  • Pre-existing medical conditions (if you have one and don’t disclose this information when purchasing the policy)
  • Travel to countries that are considered dangerous by governments worldwide


Travel insurance can be a lifesaver in case something unexpected happens on your trip. It’s also important to note that travel insurance is not just for people traveling abroad–even if you’re just going across town or out of state, it’s still worth having!


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