Even if you are a teacher and spending the whole year abroad, there are certain travel insurance policies which cover this type of scenario, an example now being the gap year policies many companies now offer. Other types of policy might also be useable but do be sure to check the fine print on the policy you choose.

Traveling can be exciting and fun. You get the chance to see places you have never seen before and you can also visit famous landmarks as well. It is always a good idea to be as safe as possible when you travel. That is why smart travelers take precautions such as using traveler's checks instead of cash and taking out travel insurance. If you are unfamiliar with travel insurance, then there are five good reasons why you should get to know about it before your next trip.

1. Travel Refund
Most travel companies offer a refund of some sort if you have to cancel your trip for a legitimate reason. But getting 80 percent back on a trip that costs thousands of dollars is still a significant loss. Travel insurance can help you make up that difference and get more of your money back if you have to cancel the trip.

2. Medical Assistance
If you get injured while on vacation out of the country, or even out of your state, then your medical insurance may not cover those charges. When you have travel insurance, you can be assured that a certain amount of your medical charges will be covered regardless of where you are.

3. Lost Money
People who travel with cash or credit cards can reduce their risk by having travel insurance. If your luggage or money is lost or stolen, then you can contact the travel insurance company for financial assistance. In many cases, a travel insurance company will respond faster than a traveler check company in an emergency.

4. It May Be Required
If you have signed up for a travel package or a vacation that includes a guided tour of any kind, then you may be required to have travel insurance. Before you leave for your trip, confirm with the travel company to see if you need to be carrying travel insurance to be allowed to join in the fun.

5. Problems with Travel Companies
Unfortunately, not every travel company is reputable. If you buy a vacation only to find out that the travel company ran off with your money and left you with no vacation, then travel insurance can help you to recover some of your lost investment. You can also contact a travel insurance company to see if the travel company you are considering is reputable. When you book your next trip, make sure you also purchase travel insurance. If you never need it, then consider yourself lucky. But if you do need travel insurance, then it could be the best investment you will make.