TRAVEL INSURANCE

An insurance product designed to cover the costs and reduce the risk associated with unexpected events during domestic or international travel. Travel insurance usually covers the insured in two main categories: costs associated with medical expenses and trip cancellations. Many online companies selling airplane tickets or travel packages allow consumers to purchase travel insurance as an added service. Some travel insurance policies may also cover damage to rented equipment, such as a rental cars, or even the cost of paying a ransom in the case of a kidnapping.