Travel insurance is the most underrated insurance out there. Because it does not feature heavily in people's day-to-day lives, it is often not considered a mandatory insurance policy. However, frequent fliers will tell you that traveling without travel insurance is one of the biggest mistakes you can make. Travel insurance protects against any crisis or emergency you might face on your travels. From delayed to canceled flights, lost connections, baggage, and passports, travel insurance ensures that your traveling experience is about the journey, not anxiety.