Who should consider travel insurance?

For some travelers, travel insurance is a good idea, for others not so much. In fact, many of these companies make more money per dollar put in, that you may think you are dealing with a loan shark. But some travelers still have a reason to take out this kind of insurance. Here are things to keep in mind:

• Would you lose sleep over the fact that you might get sick or might miss a plane?

• How devastated would you be if you lost your bags?

If you feel like you would have more peace of mind, would enjoy your trip to the max, and are willing to pay up knowing you might not end up needing the insurance, then go for the gusto. The majority of travelers do not get travel insurance, but you have to figure out what will keep you at ease. It’s supposed to be a vacation after all, right?

If you do decide to get travel insurance, contact your insurer first to see what, if anything, is already covered in your plan. After that, do some research and invest in a quality set of magnifying glasses so you can read the fine print to see exactly what is covered and at what price. You don’t want to cough up $500 to cover a $150 plane ticket, do you?

Anyone who travels should consider travel insurance. While not everyone will need travel insurance for inexpensive trips, this type of plan becomes more important when you travel outside the US and if you are prepaying for an expensive trip and could lose a lot of money if unforeseen circumstances occur. Travel insurance is also important for people who may need medical or dental protection while overseas. According to the U.S. Travel Insurance Association, about 30 percent of Americans purchase travel insurance today. This is a large increase from 10 percent before September 11.   People today buy travel insurance to give them peace of mind when they make large financial investments in their travel--whether in luxury cruises, group trips overseas or expensive airline flights.  Also, travel insurance companies provide coverage for medical or dental emergencies and offer consumers peace of mind during overseas travel if they are at risk for illness or dental problems.