Business travelers are no strangers to extenuating circumstances. Last-minute changes to flights, lost luggage, missed connections, rental-car accidents—if you travel for work, it likely has happened to you. Most of these hassles involve fees—charges that employers assume as a cost of doing business. But when travelers are self-employed, as a growing number of business travelers are, all of these fees suddenly add up.

This is where travel insurance can help. While most insurance providers sell these products to leisure travelers on a trip-by-trip basis, a handful also offer annual policies for business travelers. With these policies, for one annual rate, road warriors often can get reimbursed for most (if not all) of the charges they encounter when something unexpected happens on a work trip. In just about every case, customers see a return on their investment after three or four charges of $50 or $100 each to change a flight. Across the board, the companies are effective insurers, paying out quickly and efficiently.

To be clear, there are some things that none of these policies cover: if you simply decide not to travel, if your business meeting gets canceled, if you have a child-care emergency. On the plus side, most of the policies cover acts of terrorism (which, sadly, is becoming more of a realistic possibility these days).

Here, then, is a rundown on the five most popular annual travel-insurance policies on the market. Keep in mind that coverage varies from policy to policy and state by state (insurance laws differ by state). It’s also important to note that with any insurance policy, understanding the fine print can be challenging, which is why we recommend calling for more details.

Executive Policy (Access America)

Price: $389

For more information: 800-284-8300

URL: http://www.accessamerica.com/AA/SelectAPlan.aspx?001001346&Product=001001345

What it covers: This policy is the most comprehensive of four Access America products. It covers up to $5,000 in trip cancellation or interruption (i.e., rescheduling), and up to $1,000 in change fees for the year. It also includes up to $25,000 in emergency medical and dental coverage per trip, and $250,000 in emergency medical transportation. Other per-trip benefits include $1,000 in baggage coverage; $1,000 in expenses for a baggage delay up to 24 hours; $1,000 for damages to business equipment; and $45,000 in collision or loss/damages on a rental car. There’s also 24/7 rebooking concierge and travel-delay coverage that reimburses customers for up to $1,500 in expenses per trip if an excursion is delayed for six or more hours. Acceptable reasons for trip cancellation or interruption include illness of a family member (read: a sick kid), employer termination, or jury duty.

Best suited for: Ultimate road warriors

MedEvac Annual Plan (AIG TravelGuard)

Price: $188 (with pre-trip rejoinders for cancellation and interruption coverage)

For more information: 800-826-4919

URL: http://www.travelguard.com/travelinsurance/annual.asp

What it covers: This basic plan includes two medical evacuations per year from destinations at least 100 miles from your home to the hospital of your choice. It also offers $50,000 of secondary medical coverage (which kicks in after your own health insurance pays its share) and $25,000 in coverage for accidental death (obviously, if you die, your family gets the payout) and dismemberment (this includes blindness and deafness). The policy includes 24/7 assistance services for rebooking flights. Curiously, however, it does not cover trip cancellation or interruption (changes to existing tickets)—those coverages are only available as per-trip add-ons. These rejoinders vary in price, depending on how expensive the trip and the age of the traveler. For travelers between the ages of 35 and 59, add-ons start at $44 for a $1,000 trip.

Best suited for: International travelers who do business outside of big cities