Travel insurance is a type of insurance specifically designed to cover financial losses, medical expenses, and other losses incurred while traveling. It can provide coverage for things like trip cancellations, lost luggage, medical emergencies, flight delays, and more.

It's important to have travel insurance because it can offer protection and peace of mind in unforeseen circumstances while traveling. For example, if your flight gets canceled, if you lose your luggage, or if you need emergency medical treatment while abroad, travel insurance can help cover the costs and minimize the financial impact on you. It's a way to safeguard your investment in a trip and ensure you have assistance and support in case of unexpected events.