But if severe weather, illness, or an unexpected emergency forces you to cancel or delays your return home, travel insurance could help protect that investment. A standalone travel insurance policy may provide broader coverage. Depending on the plan, travel insurance can help pay for:Prepaid, nonrefundable trip costs if you have to cancel because of illness or another covered reason. Compare policies carefullyNot all travel insurance plans offer the same protection. "Travel insurance is definitely a nice security to have and give you peace."