With all of the additional fees and taxes that added to all of our travel bookings and purchases. Do we really want to spend the extra money on a travel insurance policy?

So what exactly is travel insurance?

Travel Insurance Trip Cancellation or interruption insurance protects you if your trip is canceled or delayed because of some unforeseen event, such as the financial failure of the cruise line, airline, or travel agency; bad weather; illness; or death.

Medical Coverage – Can supplement your existing health coverage and may include coverage for emergency care. This may be helpful when you’re traveling abroad, since some health insurance providers do not cover you while traveling overseas, or they may provide only limited coverage. If you were on a cruise ship for example, and had to be evacuated off the ship because of a medical emergency, there are coverages that would protect you from the cost of the air ambulance.

Baggage Insurance – Reimburses you if you luggage is lost or delayed.So, is travel insurance is worth the money? Take these things into consideration before you decide one way or another.

* If your trip were canceled or the tour operator went out of business, could you afford to lose the money you paid for the trip?

* If you fell ill while vacationing in a foreign country, would your health insurance cover you? If not, could you afford to pay for your medical expenses?

* If your luggage were lost, could you afford to purchase everything you would need to continue your trip?

With the cost of most travel polices being so nominal, I personally feel that having peace of mind while on my trip is well worth the cost spent on the policy. Insurance providers provide free quotes and you can usually find coverages starting at $30 refers to various types of specialized insurance coverage you can buy to protect yourself against the many risks you may face as a traveler. There are many types of travel insurance – coverages, costs and terms differ with every policy and carrier.