A common (and very good) piece of advice while traveling both internationally and domestically is to: EXPECT THE UNEXPECTED. Whether itâ€™s losing your luggage, crashing your rental car, running into trouble with foreign authority, or getting your wallet stolen which contained your money and travel documents...there is a lot of potential BAD situations that can come up, ranging from "that's a little annoying" to "that was the worst trip of my life, and I'm never travelling again". For this reason, on many trips I recommend getting travel insurance.
There's a variety of types of travel insurance, and they all cover a variety of risks. Here's a list of the potential risks covered by some travel insurance plans:
-Trip cancellation. Must have a reason...plans usually cover serious illness or death of a family member, or co-worker.
-Lost luggage. Depending on the insurance, you'll most likely get a check over and above any funds you may get from the airline.
-Loss or theft of personal possessions.
-Medical expenses while on vacation.
-Rental car damage.
-Accidental death or injury while traveling.
Not all of the risks above will be covered by every travel insurance company and other risks may certainly be covered on top of these. However, it is very important to describe your travel plans in detail to the insurance company. Some activities may require additional coverage, as there is usually a dangerous activities clause that lists activities that are not covered under a normal plan. Such activities may include something such as horseback riding, scuba diving, atv rentals /tours, etc...
When searching for the correct travel insurance company, I do recommend to spend a little extra time and do the research yourself. Many times the travel insurance that travel agents or tour operators offer can be marked up significantly. Doing a quick search online for travel insurance will turn up more than enough companies to compare.
Whether you're a student traveling abroad, going on a business trip, or going on a family vacation, it's a good idea to look into the different insurance plans available. Most likely you'll find one that matches your needs.