Do I need travel insurance?

Concerns & risks

You were trying to protect your trip budget, and you're unsure whether travel insurance is worth it.

Trips cost a lot.

Causes & evidence

It depends on cost and risk. Know refund rights first: airline refunds.

What to do

1. Check what your credit card covers.
2. Compare trip cancellation and medical coverage.
3. Read exclusions.

Common mistakes: Common mistakes: buying a policy without reading what it covers. Check the policy for trip cancellation, medical coverage abroad, and baggage. Your credit card or health plan might already cover some things. Read exclusions. Think about how much you'd lose if you canceled: nonrefundable costs, prepaid tours and hotels. If your health insurance doesn't cover you abroad, travel medical insurance can matter. 'Cancel for any reason' coverage costs more but is more flexible. Buy from a reputable company and keep the policy number handy. Understand what proof you'll need to make a claim, such as doctor's notes or receipts. If anything is unclear, call the insurer before buying.

Speed Man tip: Health insurance may not cover you abroad.

Wrap-up: Check cards. Compare. Exclusions.