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Consumer Reports: To buy or not to buy trip insurance

In an uncertain world - with natural disasters, terrorist attacks or even personal injuries - cancelling a trip at the last minute could mean money out the window. Consumer Reports explains why it may make sense to take out insurance. (Image credit: MGN Online/Consumer Reports)

If you're planning a holiday get-away, you might want to consider travel insurance. In an uncertain world - with natural disasters, terrorist attacks or even personal injuries - canceling a trip at the last minute could mean money out the window. Consumer Reports explains why it may make sense to take out insurance. Premium travel insurance policies are more expensive but allow you to cancel for any reason and give the most flexibility.

It's really important that consumers read the policy carefully so they understand exactly what is and isn't covered. Like when the policy offers a waiver for pre-existing medical conditions, provides healthcare coverage or covers medical evacuations for more adventurous trips.

Do your research. Travel agents may have preferred relationships with only a couple insurance providers. Instead, use comparison websites - like InsureMyTrip.com and SquareMouth.com. Each sells more than 100 policies from a variety of companies. And stick to insurance that will cover potentially bigger losses.

You can also call the comparison websites like Squaremouth.com, who can clearly explain coverage and determine exactly what you need. And don't forget - many credit card companies also offer travel insurance, so it's good to check with them, too.

All Consumer Reports material Copyright 2018 Consumer Reports, Inc. ALL RIGHTS RESERVED. Consumer Reports is a not-for-profit organization which accepts no advertising. It has no commercial relationship with any advertiser or sponsor on this site. For more information visit consumer.org.

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