Travel insurance is an insurance product that covers unforeseen losses incurred while traveling, either internationally or domestically. It is designed to protect against risks and financial losses that could happen while traveling, ranging from minor inconveniences such as missed airline connections and delayed luggage to more serious issues including injuries or major illness. Here are some key points to know about travel insurance:

• Coverage: Depending on the coverage you choose, travel insurance can cover a broad array of possible damages and losses, including injury or sickness, lost luggage, trip cancellation or interruption, rental property and rental car coverage, medical coverage, and accidental death coverage.

• Factors affecting coverage: Travel insurance policies are risk-based and take into account a range of factors to determine whether a traveler can purchase a policy and what the premium will be. This generally includes destination countries or regions, the duration of the trip, the age of the travelers, and any optional benefits that they require coverage for such as pre-existing medical conditions, adventure sports, rental vehicle excess, cruising, or high-value electronics.

• Comprehensive coverage: Comprehensive travel insurance policies include cover for any cancellation fees or lost deposits relating to cancellation of the insureds persons trip for a range of unforeseen and unexpected circumstances. These include illness or injury, natural disasters and bad weather, strikes and riots, hijacking, and family emergencies.

• Cost: Travel insurance costs 4%-10% of a trips price. So, for a $10,000 trip, trip insurance could cost between $400 and $1,000.

• When to purchase: Most travel insurance policies must be purchased prior to departure from home, or from the first departure point (e.g. an airport), depending on the product. A smaller number of brands offer travel insurance for travelers who are already overseas and have forgotten to purchase travel insurance or have a policy which has expired. Most policies require ones to start and finish ones journey in ones country of residence.

• Where to purchase: Travel insurance can be purchased online, from your tour operator, or other sources. It can also be offered on certain premium travel credit cards.

In summary, travel insurance is a type of insurance that provides coverage for unexpected events that can go wrong before or during a trip, such as cancellations, delays, and medical emergencies. It is important to carefully consider the factors affecting coverage and the cost before purchasing a policy.