If you're spending a significant amount of money on a trip, especially for expensive destinations, cruises, or multi-leg vacations, travel insurance is a smart way to protect that investment. It can reimburse you for non-refundable deposits or trip cancellations due to illness, severe weather, or other covered reasons. Without insurance, you risk losing your entire travel investment if something goes wrong. For those who have booked expensive tours, accommodation, or activities, insurance helps ensure that you’re not financially left in the lurch.