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What Is Travel Insurance?

Updated: Jul 20, 2022

My twenties were filled with many wild adventures, wonderful memories and beautiful moments. But occasionally on one of those adventures, things didn’t go according to plan. Unfortunately I must admit, for the majority of my twenties I never bought travel insurance. Call it the naivety of youth or my once unjaded optimism that things would just go right. I was also more than once influenced by my minimal budget and thought buying travel insurance was just an unnecessary line item. But with age and experience does come wisdom, which is why I now firmly preach the importance of travel insurance. But what exactly is it and why is it necessary? Let’s take a look and find out!

What Does Insurance Include

Travel insurance covers a wide range of mishaps that could occur on your adventure. If your airline loses your luggage, travel insurance will cover the cost of replacing the items lost. Additionally, if your flight is delayed or canceled, compensation from the travel insurance can be given. If 2020 taught us anything, it is that anything can happen at a moment's notice. If you need to cancel due to extreme circumstances, you’ll be relieved to have travel insurance. Additional issues like medical emergencies and health related issues will be covered. In the case of a natural disaster, stolen passport, mugging, etc. travel insurance will have your back!

Is It Necessary To Get Travel Insurance?

All the reasons listed above about what travel insurance covers might seem like extreme circumstances. After all, what is the likelihood a medical emergency or a stolen passport would happen to you? Like all insurance, health insurance, life insurance, car insurance, etc, travel insurance is a game of what ifs. While it might not seem likely that something crazy will happen to you, when it does happen, you will be glad you are covered.

Interior of an airport terminal
Protect yourself from flight delays and cancelations, lost luggage and more by buying travel insurance.

Pros To Travel Insurance

Peace of Mind

Without a doubt, peace of mind is the biggest pro to purchasing travel insurance. Unfortunately, we cannot see into the future so we don’t know what will happen. With travel insurance you don’t have to worry about the worst case scenario, giving you more time to relax on your vacation and enjoy your adventures!

Financial Coverage

You want your money to go to funding your adventures, so losing money due to cancellations, theft, or medical issues is less than ideal. Knowing you will be compensated for all the different circumstances you might encounter can be reassuring when budgeting for a trip.


Whether you’re traveling to a bustling city or a small rural village, travel insurance is designed for all aspects of your trip. So if you want to go diving with whale sharks or simply tan on the beach, your travel insurance will cover a range of experiences you might encounter.

Pro Tip: Make planning your trip easier by avoiding these Common Travel Planning Mistakes.

Woman in ocean
Give yourself peace of mind while on your adventures by getting travel insurance.

Cons To Travel Insurance


Depending on the travel insurance you buy, it might cost a pretty penny. While it might be hard to pay for something you don’t even know, in the long run having travel insurance will save you money.

Might Not Cover Pre-Existing Conditions

If a medical emergency occurs overseas as a result of a pre-existing condition, the travel insurance you paid for might not cover related expenses. Keep this in mind when researching the best travel insurance policy for you.

Pro Tip: Traveling with medical issues? Make sure to pack all of these medications before you go!

Remain Unused

Of course the best case scenario is to never have to use your travel insurance, but if you’ve shelled out your cash on a policy it can potentially remain unused.


When planning a trip, buying travel insurance is a must! Don’t put yourself in a risky situation that could cause big financial burdens. While you will hopefully never have to use your travel insurance while on your adventures, the peace of mind having it can give you is well worth the cost.

Have you ever found yourself in a sticky situation with no travel insurance? Tell us your experience in the comments.


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