With the holiday travel season upon us once again, it’s that time of year to decide whether or not you want to purchase travel insurance for the trips that you’re planning.

What is it?

It is insurance that protects you from financial losses incurred while traveling either domestically or internationally.

What does it cover?

It can protect you from a wide variety of possible risks.  Most companies will offer coverage for the following.

• Cancellation or delay
• Lost, delayed or theft of luggage
• Personal liability
• Personal injury
• Medical expenses
• Legal expenses

Is it worth it?

If your just going for a short stay with family, probably not.However if your planning an expensive trip like an exotic vacation or honeymoon, it may well be worth the cost.  I’d say it’s definitely worth looking into if you are plan on traveling internationally, especially for coverage of medical expenses, as your regular health plan may not cover you overseas.

It’s also important to note that you don’t have to purchase coverage for everything.  You may just want to protect for certain cases like luggage for instance, which is something I’d always recommend getting unless all you have is carryon.

While most travel agents will discuss the available insurance options with you, if you’re planning your own trip this can be a little more difficult.  In that case I would suggest calling either your auto or home insurance provider to see if they have a travel insurance package.