When you are in the middle of planning for your next trip – whether it be for business or pleasure – the last thing you probably want to think about is, “What if something goes wrong while I’m away?” It is for the very reason that people tend to avoid this question that most people neglect to buy travel insurance.

It is not until you hear one of those travel horror stories from someone you know about their experience getting completely stranded in a foreign country, or even in their own country, far away from home and without having bought travel insurance. By the time they get home, they are several thousands of dollars poorer. And often, while they were away, they did not have access to the best-possible medical care money could buy.

These travel horror stories do not need to end this way. For, while nobody can control all of the hundreds of variables that have to be in alignment to get through your trip and back again on time and with minimal delays, everybody can buy travel insurance to mitigate their own financial and health-related risk.

The fact is that, no matter how careful or conscientious of a traveler you are, you could very easily find yourself in a situation whereby you run into a significant delay, cancellation, mishap, accident, or illness while on the road. While these types of problems can happen to anyone while at home, they are 10-20 times more expensive to deal with when abroad. That is because your regular medical and auto insurance usually does not cover foreign travel.

Some people avoid buying travel insurance because they believe that they cannot afford it. However, by spending just a few minutes looking for inexpensive travel insurance, you can find it. First, it is important to understand what types of insurance you should consider.

Examples of Incidents Covered by Insurance

Travel insurance is essentially designed to keep you from losing thousands or even tens of thousands of dollars that inconvenienced travelers like you lose every day all around the world. Some everyday examples of this type of loss include:

* Having to pay for a hotel and other expenses due to a delayed or cancelled flight

* Your tour operator going out of business while you are abroad, stranding you where you are with no way home

* Your appendix bursts while you are in another part of the world and your regular medical insurance does not cover overseas medical expenses

* You get into a car accident while in another country and are sued by the other driver

* Your domestic ocean cruise is cancelled the day of your departure and you need to change your flight back home to a different day

* You lose your luggage while travelling domestically

* You have a run-in with the law while abroad and need legal assistance

Where Can You Buy Travel Insurance?

You can buy travel insurance from a number of sources, including your travel agent, the tour operator with which you are booking a tour, or an independent travel agent. In most cases, you will buy insurance in your home country before you leave on your trip.

For domestic travel, in many cases travel insurance is sold at the airport. However, it will be most advantageous for you to arrange for it at least a few days in advance of your trip if you can, since doing so will allow you to compare rates from multiple insurers.

Types of Specialty Travel Insurance

Different travelers have different insurance needs. Specialty travel insurance is designed for specific travel situations that require additional or special cover due to the unique nature of the travel being considered. Typical types of specialty insurance are for: student travel, business travel, leisure travel, adventure, cruise, and international travel.

Finding Inexpensive Travel Insurance

If you are looking for inexpensive travel insurance, it is important for you to understand that you should shop around before buying insurance from any one insurer. Comparison shopping is the best policy.

To comparison shop insurance, it is helpful to do this. Start the process by getting your first quote and carefully writing out all of the types of coverage which are included – as well as coverage amounts. Then, when you get additional quotes from other insurers, you can ask for the exact same terms in order to get an apples-to-apples comparison quote.

Note that, if you book your trip through a travel agent, he or she may try to sell you one of their insurance plans on the spot. Due to convenience reasons, many travelers go with this option. However, it is important to note that buying directly from an insurance company will probably help you get a more comprehensive, all-inclusive plan that covers many common types of travel-related mishaps. And, it could save you money, too.