I travel over 100 days a year, and I would never do it without travel insurance

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• If you're planning to travel this year, travel insurance can help protect the cost of your trip.
• Read the fine print on your coverage so you can be sure your plans will be covered.
• If you travel frequently throughout the year, consider if an annual policy would be a better deal.

As a freelance travel writer and editor, I travel an average of 10 days each month. Travel insurance is non-negotiable for me, but I believe it's also important for the average vacationer. Here's what I think everyone should know about travel insurance.

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1. You can protect your investment with travel insurance

More people are traveling this spring and summer. "2023 is shaping up to be the year travel comes roaring back," says Christina Tunnah, general manager of marketing and brands for World Nomads. According to Tunnah, more Americans want to explore once-in-a-lifetime destinations. The company's US policy sales have increased 58% from last year.

People who didn't travel between 2020 and 2022 may have additional vacation budgets and the desire to go big, plan lavish vacations, and make up for missed experiences in what has been termed "revenge travel."

While most trips go smoothly, missing a flight, losing baggage, becoming ill or injured while traveling, and needing to cancel a trip due to an emergency can happen. Travel insurance is often overlooked in the excitement of planning travel, but forgetting travel insurance can be costly. You won't realize how important travel insurance is until you need to use it in an emergency.

Think of it this way: If you miss your flight to Miami and your cruise ship leaves without you, your chances of recouping money from the airline or the cruise line are slim if you don't have travel insurance. While insurance won't get you on that cruise, it can protect your money so you can book another one.

2. You should read the fine print

Getting travel insurance is a great start, but make sure to understand what your policy does and doesn't cover. Travel insurance generally covers a range of trip protection. Accidental death, medical treatment, emergency evacuation, lost luggage, and more are covered, but it doesn't cover everything.

Unless you've purchased specific coverage, travel insurance generally won't cover canceling a trip due to fear of travel or changing your mind. Extreme sports, misconduct, or medical tourism claims are also usually not covered.

3. Don't skip coverage for once-in-a-lifetime trips

Bucket list travel — cruises, safaris, European vacations — means spending big bucks. Protect your investment by getting travel insurance. Travel insurance is usually between 4% and 8% of your trip cost.

Travel insurance is also valuable for less lavish trips. Ask yourself what you'd be comfortable losing if you had to cancel last minute.

4. There are multiple types of travel insurance policies

Travelers can purchase annual or per-trip policies. If you travel frequently, annual policies can save you money. Look at your planned travel over the next year and compare prices and coverage for both types of policies.

You can also purchase trip protection coverage on flights, cruises, and packages through third-party booking sites like Expedia. If you've got multiple moving parts on your trip, a policy that covers everything might be easier to understand. Dealing with one claim and set of rules is less of a headache.

5. Remember to check your credit card

 Some travel rewards credit cards cover trip cancellation and have built-in processes for reimbursing the cardholder for lost or delayed baggage.

Be strategic about what cards you use to pay for your vacations — most credit cards will only offer these protections if you have used that card for your purchases. If you're planning a big trip, hop on your credit card's website and dive into the benefits you already have.