Travel Insurance is a type of insurance that covers all risks connected to travelling such as loss or delayed baggage, medical expenses, trip cancellation and accidental death and disablement.
Most countries do not require travel insurance although there are some countries like Cuba, Ecuador, Qatar, United Arab Emirates and Shengen states where travel insurance is mandatory.
For most travellers, travel insurance is nothing more than an additional travel expense. Well, that may true but just like any other kind of insurance, the purpose of a travel insurance is “just in case” something goes wrong while you are abroad such as cancelled flights, loss luggage, accident, loss passport, medical emergency, or God forbid, a terrorist attack; then at least you are covered. So even though it is not mandatory, it is highly recommended that you get one.
Let’s say you really are on a tight budget despite getting discounted airfare tickets and savings on hotel costs, should you still get a travel insurance? The answer is yes. If a comprehensive one is too expensive for you, at least get one for medical emergencies.
Just a simple tip, there are travel credit cards that give free travel insurance if you purchase your airline tickets using the card. If you have one, use that as long as you know how to handle your credit card purchases.