When to Buy Travel Insurance

To buy or not to buy, that is the question. When it comes to travel insurance, there seem to be more questions than answers. Follow these tips to help you decide when it’s right to buy and when you can skip the extra fees.

The first thing to consider is the firmness of your plans. Are you flying out to meet family at a confirmed place and time? Does your family have a history of changing plans last minute?

Travel Sense advises looking into the specific policies of the travel insurance.

For example, trip cancelation usually covers non-refundable payments or deposits if a trip is unexpectedly canceled. Whereas, trip delay insurance offers compensation for delayed trips. True to its name, baggage insurance covers losses of property incurred during your trip.

The most common type of travel insurance is trip cancelation. Be sure to check the specifications of the policy you intend to purchase. Some only cover cancelations 72 ahead of travel date or have other restrictions.

When choosing to buy trip insurance, it is wise to consider the cost of the insurance compared to the cost of your trip. For example, $15 insurance on a $600 flight is a much better deal than $15 of insurance on a $150 flight. In the end, it pays to be safe if plans are uncertain — a little insurance never hurts.