You invest a lot in your travel plans, whether the purpose of your trip is a family visit, relaxation and fun or something more on the professional side. Consider the forethought that goes into booking, planning and laying out the details your flight arrangements, your passport and other documents and even your clothes and luggage.

Once you've booked your flight and lodging and are finalizing activities in your itinerary, however, there is still one more step you must take purchase a trip insurance policy for yourself and encourage your travel companions to do the same.

Its important to protect your international journeys with trip insurance. Let's take a look at a few of the situations in which this coverage is especially beneficial and why it's a sound investment.

Trip insurance explained

First, lets lay the groundwork with a definition:

  • Trip insurancehelps safeguard the investments and planning youve done to support and organize your travel. This includes your pre-paid travel expenses like the cost of your flight, your hotel room or accommodations, rental car and other similar arrangements. If any emergency or issue arises that requires a change in your plans, your insurance policy can help prevent financial losses for cancellation or change fees.

In other words, trip insurance covers situations such as:

If one of these issues arise before or during travel, your trip insurance can help you recoup any financial costs or potential losses.

How much trip insurance do I need?

Each journey is different, and factors like your age, your destination and the overall cost of your travel arrangements can help determine how much insurance you need. Each person in your party will need their own trip insurance plan to ensure that their individual arrangements and investments are protected.

When it comes to choosing your level of coverage, there are a few different types of trip insurance to consider, which align with certain travel situations and needs: