When purchasing travel insurance, is everyone traveling together required to purchase and be on one policy? Published by Chris Harvey September 10, 2008 No. Each traveler may purchase their own travel insurance policy if desired. Your traveling companions are not required to have insurance. Whoever purchases the travel insurance will be covered. Related articles: Does the financial default benefit cover me if I go bankrupt and can no longer afford to take the trip? How does a travel insurance policy define a pre-existing condition? What is Rental Vehicle Coverage in travel insurance? Will trip cancellation cover the cost of day tours? Should I include this in my trip cost? Why are some travel insurance policies so much cheaper than others?