Travel insurance is necessary so that you are able to handle the difficulties that you face before or during a trip to a foreign destination. More often than not, problems like trip cancellation, delayed flight, missing flight because of delayed baggage clearance trouble the travellers before they go on a trip, while problems like serious illness or accident, loss of baggage or travel documents come across the traveller on the trip. For this reason, travel insurance becomes a major essential for any trip abroad as it covers all such situations that the traveller needs to deal with.
You can purchase it directly from an insurance company or through a broker. The premium charged is dependent on a number of factors including the distance of journey, risks you are prone to during travelling, and even the personal belongings that you are taking along with you during the travel. The cost of the plan may differ according to the trip and even the plan the insurer decides on, for instance there are cheap europe travel insurance as well as comprehensive and multi-trip policies. You can take the plan when you have booked your tickets or even at the time of travel. It can be taken separately or together with the travel ticket.
There are many misconceptions in the minds of the people regarding this type of insurance. They think that they can cancel their trip at any time without any particular reason and can get the travel expenses reimbursed. However, unless the reason specified for cancellation is unavoidable and mentioned in the policy, the expenses will have to borne by the traveller. Some others believe that the insurance is the waste of money, but it is the value for money investment for handling the unpredictable circumstances. Many suppose that the policy covers situations such as visa clearance, immigration clearance, but this is not true.
Travel insurance comes to your rescue in case you need medical emergency treatment when you are travelling. Moreover, it is useful if you are carrying important business documents and pricey electronic goods when you are going out on a business tour or a vacation. For those who frequently travel for business purpose can save money by taking the multi-trip plan.

A Schengen EU certified travel policy is mandatory for anyone who requires a Schengen Visa to get to the Schengen countries in Europe. Hence, traveling to the Schengen zone of Europe with the introduction of Schengen visa has been simplified. If you are a national of one of the non-exempt countries planning to travel through or visit the Schengen Countries, then you have to obtain your Schengen travel Insurance and submit the proof of the same to the relevant embassy/consulate at the time of filing the application for Schengen Visa.