NEW YORK (CNN/Money) - Hurricane Katrina's swathe of destruction has left travelers nationwide in a lurch as airports in the Gulf Coast remain closed and flights throughout the country have been cancelled or delayed.

Stranded travelers -- many of whom are facing unknown financial concerns back home as a result of Katrina -- could find some financial reprieve, at least when it comes to their trip, if they purchased travel insurance beforehand.

Travel insurance usually costs between 5 percent and 7 percent of the cost of the trip and can be purchased through travel agents, online insurance comparison sites or directly through insurance carriers. Chris Harvey, president of Squaremouth.com, an online travel insurance comparison company, said travelers should purchase the insurance 10 to 21 days after the first deposit is made on a trip in order to have the maximum coverage, which includes disruptions due to terrorism or pre-existing health conditions.

But just what kind of claims are travelers eligible to make when a hurricane thwarts their plans?

Here's a basic lesson in travel insurance and everything you need to know to get some of your money back when disaster strikes:

--Travelers are eligible to file a claim if a flight was cancelled when either traveling to or traveling from an area affected by a hurricane or other disaster

-- If a major storm leaves your home uninhabitable, travel insurance will cover the trip if you decide to cancel or leave your vacation early.

-- Your trip will also be covered if you are forced to evacuate a certain area and either extend or cut your trip short.

--Travel insurance will also cover the cost of your trip if you are forced to leave an area temporarily as the result of a mandatory evacuation order.

-- You won't be able to make a claim if you purchased travel insurance after a hurricane was already forecasted and named.

-- If you're injured or fall ill during the course of your trip, travel insurance will pay for emergency medical expenses and even medical evacuation.

-- Lost or stolen baggage is also covered under most travel insurance policies. If baggage is delayed, policyholders can also obtain reimbursement for the purchase of necessities that were made before retrieving your luggage.

-- Don't go hungry or sleep in the airport. Most travel insurance policies will pick up the tab for food purchases, hotels and alternate means of transportation if your flight is cancelled or delayed.

While it may be the furthest thing from a policyholder's mind when faced with the destruction of a major natural disaster, it's important for travelers to file a claim with insurers as soon as they're forced to cancel or leave early from a trip, said Dan McGinnity, vice president of Travel Guard International.

Some companies require policyholders to make a claim within 48 hours of a trip disruption, he said. While others may be more lenient, its a good rule of thumb to file as soon as you suffer a loss to prevent delays or lapses in coverage.

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For more on travel delays, click here

For more information on how to save money on your homeowner's policy in the event of a hurricane, click here