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Travel insurance helps you save money in case of emergency events that will force you to cancel your trip. Travel insurance can reimburse you if illness, injury or a death in the family, and many other issues prevent you from going on a trip or force you to end it early.

For example, if you get sick in the middle of your trip and can't continue, your travel insurance can reimburse you the costs for the remainder of your trip. Travel insurance can also cover and reimburse your non-refundable costs in other situations, such as severe weather, you losing your job or being required to work during the time your trip was scheduled, or if your travel provider goes bankrupt. Plus, travel insurance usually offers other coverage like death benefits, coverage for emergency medical treatment, and reimbursement for lost baggage.