Travel insurance is the type of insurance that covers any unforeseen event while traveling. This could be an accident, illness, lost baggage and tickets or expenses caused by unexpected delays. Everybody knows that traveling, especially long distance international traveling can be fraught with problems. Once you reach your destination, you could, for example, sprain and break your ankle, while getting out of the taxi. The only thing left to do in this situation is to go to hospital and get bandaged up. The only problem is that this can cost big money to do. However, if you have travel insurance, this type of unexpected expense will be taken care of.