Travel Insurance

According to the U.S. Travel Insurance Association, more travelers are getting coverage. So, what is travel insurance? It is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling. How do you know if you need travel insurance? Ask yourself how much money might be lost if you need to cancel or postpone your trip, or head home early. If that amount is more than you want to lose, insurance might be a good idea. You might also want to consider travel insurance with medical coverage if you're headed abroad (where your health insurance may not be valid) or to a remote area or on a cruise (where getting to a hospital may require air evacuation). Before you buy a third-party travel insurance policy, check to see if you already have some protections through other sources. For example, some homeowners or renter’s insurance policy may cover your belongings away from home. Travel insurance is also a common perk for credit cards, provided you paid for those travel arrangements with the card.