Travel insurance is designed to protect you against unexpected events, like flight delays, lost or stolen luggage and personal effects, and injury or illness during your journeys both domestic and overseas. Depending on the type of policy and its level of protection, you can be covered for a number of events that can bring your travel plans to a halt.
Back in the 1950’s and 60’s buying Airline Trip Insurance in case you were killed in an airline crash was a common thing, but … they had sales booths and vending machines in almost all airline terminals in the USA!
An insurance policy could be purchased for $2.50, paid in quarters, before embarking on a flight. Typically, these vending machines would come with a warning, such as:
“Do Not Purchase More Than a Total of $62,500 Principal Sum – Nor for Travel on Other Than Scheduled Air Carriers. This Policy Covers on One-Way Trip Only Unless Round Trip Ticket Is Purchased Before Departure.”
This business model depreciated because air travel came to be perceived as safe, the demand for this type of insurance was eliminated and of course with time replaced by travel insurance as we know today.