Travel insurance is important for a traveler since it covers medical and financial cost and losses happened on your domestic or international travel. It is usually arranged at the time of booking the trip and covers the exact duration of the trip. When you doubt the benefit of having it? Read this carefully.
You can search for a suitable insurance policy and choose between single and multi trip insurances. If you plan to travel once in a year, then travel insurance of single trip policy will be suitable. But if you have plans to travel frequently then you can consider taking multi trip insurance policy.

A multi trip insurance policy is annual insurance travel policy and don't spend much money in the long term. While arranging, make sure to have detail information with what the insurance coverage is provided along with the inclusions and exclusions. Cheap premium doesn't always offer bad insurance coverage. This may work in reverse also. A policy taken at a higher price need not cover all aspects of insurance coverage required by you.
As a traveler you face lot of problems and risks while traveling like loss of property and money, trip cancellation, natural disaster, accidents etc. The concept of travel insurance is very simple. You pay a travel insurance premium to the company and they in turn covers for your loss of valuables, accidents and unforeseen things. For example, if you lose your luggage then the insurance company pays for the luggage cost but of course based on the rules of your insurance contract. A travel insurance policy sometimes covers your medical expenses if incurred while traveling. But if you have got health insurance separately then you don't have to spend again for health insurance during travel. Generally travel insurance covers other things like accidental death, medical evacuation etc. An essential rule of all insurance policies is to go through the agreement carefully because most of the time you apply for insurance policies during emergencies.