Travel insurance is a type of insurance that covers the costs and losses associated with traveling.
It is useful protection for those traveling domestically or abroad.
According to a 2021 survey by insurance company Battleface, almost half of Americans have
faced fees or had to absorb the cost of losses when traveling without travel insurance.1 Thirty-six
percent of Americans say they're more likely to purchase travel insurance for trips abroad
following the COVID-19 pandemic while 34% said they're more likely to do so for domestic
trips.
KEY TAKEAWAYS
• Some travel policies cover damage to personal property, rented equipment, such as rental cars,
and even ransom requests.
• The main categories of travel insurance include trip cancellation or interruption coverage,
baggage and personal effects coverage, medical coverage, and accidental death or flight accident
coverage.
• Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire
assistance, and re-booking canceled flights.