Q: I’m going on vacation to the Caribbean this summer. Is it a good idea to buy travel insurance? What should I look for in a policy? – P.L., Boston
A: Travel insurance can be valuable if you would lose a lot of money in nonrefundable deposits if you had to cancel your trip. More important, it can pay for medical evacuation—which is expensive and usually isn’t covered by health insurance—if you are sick or injured while traveling and need to be transported.
Travel policies often cost 4% to 10% of your total trip cost, says Steven Benna, of Squaremouth.com, where you can compare policies. Most policies will reimburse you for nonrefundable deposits if you must cancel or interrupt your trip because of weather or because you or a family member becomes ill. (Most policies won’t cover preexisting health conditions that were diagnosed or had changed typically within 60 to 180 days before you bought the insurance.)
Read the full Kiplinger article online here: https://www.kiplinger.com/article/insurance/T059-C001-S002-when-it-pays-to-buy-travel-insurance.html