Travel insurance covers any travel related losses incurred during one’s domestic or international travels. Any good travel insurance plan should cover medical expenses, expenses regarding travel delays, emergency returns, protection from theft of cash or other personal belongings and compensation for any baggage delay.Travel insurance is insurance that is intended to cover medical expenses and financial (such as money invested in nonrefundable pre-payments) and other losses incurred while traveling, either within one's own country, or internationally. Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a more extensive, continuous insurance can be purchased from travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators.

Travel cancellations, delayed departures, losses, theft or damage of personal possessions, medical expenses, emergency return or repatriation, accidental death, rental car damage or any sort of legal assistance related to traveling. Different companies may provide different coverage facilities under their own insurance and the exact policies will vary.

There are other types of travel insurance which expressly cover things like high risk sports, traveling to high-risk countries and protection against terrorism, chronic diseases and more.

One can also find travel insurance which insures all of the prepaid, non-refundable trip costs which may include airfare, hotels bookings, tour costs or whatever else may have been paid for upfront or pre-booked.

Another type of travel insurance is under an international medical insurance scheme, which falls under two categories. The first is medical travel insurance that provides emergency medical coverage while away from home. The second is international major medical insurance which covers both emergency and non-emergency incidents.