Travel insurance protects you from financial losses you could incur while traveling, either domestically or internationally. Travel insurance is a standalone policy that can either be purchased on a per-trip basis, or as an annual plan covering multiple trips. Costs can vary based on factors like your age, the length of trip, activities you’ll be participating in, and how much you spent on the trip.

Trip insurance can cover you for everything from minor inconveniences, like missed airline connections or damaged luggage, to major crises, like emergency medical evacuation in a life-threatening situation. Depending on the terms of your policy, you can be reimbursed up to a certain amount for costs incurred when your vacation plans take a turn for the worse. Plus, travel insurance companies also provide 24/7 assistance to help you navigate emergency situations. Learn more about the ins and outs of travel insurance.