Travel insurance is coverage designed to protect against risks and financial losses that could happen while traveling. The risks range from minor inconveniences such as missed airline connections and delayed luggage to more serious issues including injuries or major illness. Also, insurance covers unforeseen losses incurred while traveling, either internationally or domestically. Travel insurance includes schengen and worldwide travel insurance. When applying for a schengen visa, travel insurance is a key document, worldwide travel insurance doesn’t cover schengen states but only the countries it is required for. Travel insurance can be booked in weeks or months, these depend on your travel date and destination.