No. Buying insurance for flights or hotel rooms鈥攚hich often costs about 10 percent of what you鈥檙e paying for tickets and lodging鈥攊sn鈥檛 usually worth the money in the long haul. Even in an emergency, you can usually get by without the benefits. You can cancel hotel reservations with 24 hours notice, you can usually change your flights for a fee in case of inclement weather, and the airline already covers your bags for up to a few hundred bucks.
That said, there are exceptions. Here are four situations in which I would consider insuring my trip.
ON BIG, EXPENSIVE TRIPS OF A LIFETIME
Suppose you鈥檝e been saving your money for five years for a big safari in Africa. You鈥檝e planned every last detail, and furiously squirreled away cash by forgoing luxuries like partying with friends on Friday nights and cable TV. You鈥檝e spoiled yourself by buying business class plane tickets for your overseas flight, and plunked down non-refundable cash to reserve a posh hut at one of the world鈥檚 finest eco-lodges.聽
Then, on the day you鈥檙e supposed to depart, a triple crown of calamity hits: a blizzard blankets your hometown airport, torrential rains are forecast for the next week in the nature reserve where your safari will be, and you break your leg. If you haven’t insured your trip, you’ll probably regret it.
WHEN YOU BOOK A TRIP DURING BAD-WEATHER SEASON
Imagine that your best friend is getting married in the U.S. Virgin Islands in September, during the height of hurricane season. In the event that an epic storm strikes, you鈥檒l likely be able to reschedule without penalties. But what if a hurricane is lurking鈥攊ts path not confirmed鈥攕o you preemptively cancel? You鈥檙e out of luck. Same goes for traveling to cities in the colder half of the country during February.
WHEN YOUR SCHEDULE COULD BE IN FLUX
You’ve made plans for a four-day salmon fishing trip to Alaska next month, but at about the same time your sister is due to give birth to her first child. If you know in advance that another important event may impinge on your plans, it’s not a bad idea to hedge your bets.
ON CRUISES
I鈥檓 not a fan of floating sick boxes of any kind, but if you are taking a cruise, get insurance to cover your trip. A vacation on a boat involves a lot of moving parts.
First, there鈥檚 the issue of flying to your port. If your flight is cancelled or delayed, you鈥檙e out of luck. Then there鈥檚 the mechanical condition of the ship. If the cruise is cancelled after two days, or altogether, you don鈥檛 want to be left holding the bag. There’s also the possibility of sickness or injury during a port visit; The ship isn鈥檛 waiting around for you. Go with third-party insurance because it鈥檚 invariably more comprehensive than what the cruise lines offer with their in-house policies.