Believe it or not, even those that travel quite frequently aren’t really fully versed on how travel insurance works – and that’s easy to understand, considering the fact that the overwhelming majority of folks aren’t going to travel any more than a handful of times each year and aren’t likely to go on trips that require travel insurance to be purchased to begin with.

But if you are really gearing up for a more jet setting lifestyle, or if work is going to require you to travel a lot more frequently than you used to in the past, it’s not a bad idea to better understand the basics of how travel insurance works so that you can make the most out of this protection.

What exactly is travel insurance, anyway?

Depending upon the specific travel insurance policy that you choose to take advantage of, your travel insurance may cover everything from soup to nuts (replacing the cost of lost luggage and property to paying for a new rental car should something happen to the one that you have already hired out) to a much more stripped-down and bare-bones policy that serves you well in a catastrophe but doesn’t break your bank account.

What kinds of benefits will I get out travel insurance?

Again, the specific benefits that you’re able to take advantage of when you sign up for travel insurance will depend entirely upon the kind of policy that you choose, but you should expect (at minimum) the following benefits to be included:

  • Canceled trip protection – This travel insurance guarantees that you will be fully reimbursed for any otherwise nonreimbursable trip payments and deposits (including accommodations and airfare).
  • Trip interruption protection – From time to time, you’ll find that your travel schedule gets run a little bit off course and may even end prematurely due to circumstances entirely out of your control. This kind of travel insurance benefit protects you financially from these extra costs and make sure you get home safe and sound.
  • 24/7 assistance services – One of the best benefits you will enjoy with travel insurance is the protection that you get around the clock with the help of the assistance services that your travel insurance provider sets you up with. You’ll be provided with a member phone number that you can call anytime, day or night, and you’ll be able to get the answers that you need – and the help that you require – almost immediately regardless of when you find yourself in a sticky situation.