What Is Travel Insurance — 2026 Guide
The short answer is: travel insurance is a policy that covers unexpected costs related to your trip, like medical emergencies, trip cancellations, or lost luggage. It’s not just for emergencies—it can save you thousands if something goes wrong, and it’s often cheaper than you think. For example, a standard policy from a major provider like World Nomads costs around $50 for a two-week trip to Europe, while comprehensive coverage from Allianz can run $100–$150 for the same duration. If you’re flying with a budget airline like Ryanair or EasyJet, which rarely cover cancellations, having insurance is non-negotiable—over 30% of travelers who book last-minute flights end up needing to cancel, and without insurance, they lose the full fare. Here’s a key tip: always check your credit card’s coverage before buying a policy. Many premium cards, like the Chase Sapphire Reserve, include basic trip cancellation and medical coverage, but they often cap payouts at $50,000 for medical emergencies. I...