Definition - What does Travel Insurance mean?
Travel insurance is insurance that covers losses that one might encounter during a trip or vacation. It may include coverage for various situations, such as medical bills incurred in a foreign country, lost or stolen luggage, cancellation of flight and hotel reservations, and damage to rentals, such as a rental car.
Insuranceopedia explains Travel Insurance
Travel insurance is not mandatory coverage. It is up to every individual to decide whether this extra peace of mind is worth the investment. Before buying travel insurance, any individual should check for coverage under any other programs or policies that may cover them. For example, existing health insurance plans might pay for health care overseas, and a credit card company may pay to replace lost luggage. Making sure not to buy unnecessary coverage renders the cost of travel insurance more affordable.