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Travel Tip: One Way to Find Out if You Need Travel Insurance

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Recent natural disasters, such as earthquakes in Mexico and hurricanes in the Caribbean, raise the issue of travel insurance.

What do you need?

When you should you buy it?

Is it worth it in the first place?

First, you need to do the math.

Add up the real cost of your trip.

Don’t forget to include change and cancellation fees for airline tickets, hotels, and ground activities.

If that total is more than you’re willing to lose, consider the travel insurance.

Many airlines will also offer travel waivers, which allow you to get a refund or rebook at no charge.

But if you want the insurance, that will total about seven percent of the cost of your trip.

But don’t just buy insurance in a vacuum.

Consider a policy with medical coverage as well.

Always remember: you can’t buy a valid policy after a storm is already named.

Most policies will not allow you to cancel if you’re simply too scared to travel.

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