When you think of travel, you imagine great locales, lovely stays, and fond memories. In case of business travel, the priorities are different of course. One thing, however, that plays on our minds while planning for any kind of travel is that the experience should be a seamless one sans hitches. This is exactly where travel insurance becomes important. A travel insurance covers for medical expenses, lost luggage, trip cancellation, and flight accidents, among others.
A travel insurance can be availed at the time of the booking of a trip either for that particular trip or for an unlimited number of trips within a certain time. Some policies offer lower and higher medical-expense options; the higher ones are chiefly for countries that have high medical costs, such as the United States.
With the burgeoning tourism market, the global travel insurance market is primed to grow at cracking pace. As awareness about various travel insurance plans grows and more players enter the fray with attractive plans, the market will likely see good growth in the foreseeable future.