Buy Insurance

Travel insurance is worth purchasing for big ticket trips that are largely non refundable. The typical plan will cover emergency medical expenses and baggage loss and delay, and recover at least some of the cost of your trip if your vacation has to be canceled or cut short (the amount is partially determined by which state you live in), including if the travel operator goes belly up. Note Most insurers consider a layoff to be a valid reason to cancel a trip.

Always buy from a third party insurer, not the company selling your cruise or tour. And considering the fragile state of the insurance industry these days, youd be wise to choose a large, established company thats less likely to go under, such as ?American Express, instead of one youve never heard of. Other reputable travel insurers include Travel Guard, Medex and Travelex.