Travel insurance is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country, or internationally.
Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. Coverage varies, and can be purchased to include higher risk items such as "extreme sports".
The most common risks that are covered by travel insurance plans are:
Medical Expenses coverage can be Per Occurrence or Maximum Limit.