Travel insurance basics

What travel insurance actually covers

Travel insurance is a short-term policy, usually bought for a single trip or a full year of trips, that bundles protection for the specific things that go wrong while traveling: medical emergencies, trip cancellations, lost or delayed baggage, and flight delays. It's a different animal from the health, life, and property insurance covered elsewhere on this site, built around the temporary, unfamiliar risks of being away from home rather than everyday life. In the Philippines, travel insurance is sold by non-life insurance companies licensed and supervised by the Insurance Commission (IC), which means the policy itself, and the fine print inside it, is a regulated contract you can hold the insurer to, not an informal promise.