Unexpected sickness and injury, adverse weather, and job loss are three of the most common causes of interrupted travel plans. Travel insurance provides you with coverage for unforeseen problems, from a canceled flight to a serious illness or, in rare cases, the financial default of your travel supplier or even an act of terrorism. When an accident, illness, or other covered circumstance forces you to cancel, delay or interrupt your travel plans, you could be faced with significant financial losses such as medical expenses that aren't covered by your health insurance, or any nonrefundable prepayments you've made on your trip.
If you’re taking only one trip this year, a single-trip policy may provide all the protection you need for that one trip. If you’re planning to take multiple trips, you may want to consider an annual policy instead as it’s often more economical to protect two or more trips that way. To find out which type of policy works best for you, get a quote for each of the trips you plan to take and then compare the total to the price of an annual policy. Keep in mind that annual policies offer flexibility by providing continuous coverage without the need for multiple purchases throughout the year. A single-trip policy may be less expensive and is specific to your destination, travel dates, and trip cost.