Depending on the travel insurance plan, travel insurance usually promises to cover you for cancellation or interruption of your trip, some form of emergency medical care while you are traveling, lost or stolen luggage, and various other troublesome occurrences.
Before you decide on a travel insurance plan, it is wise to investigate the plan carefully and read the fine print. You should closely check any agreements with your travel agent, tour operator, airline, or other companies involved with your travel plans. The agreements may include written guarantees.
If you have a fully refundable airline ticket, you may decide that you would not need trip cancellation/interruption insurance.
On the other hand, it may be worthwhile noting that certain insurance plans can protect you by covering the financial costs in case of the following situations:
A sudden, serious injury or illness to you, a family member, or a traveling companion.
Financial default of the airline, cruise line or tour operator.
Natural disasters or strikes that impede travel services.
A terrorist incident in a foreign city within 10 days of your scheduled arrival in...