Lost bags. Canceled flights. A tropical storm. There are plenty of what-ifs that could derail your summer travel plans. But does it necessarily follow that you need travel insurance?
Consumers are expected to shell out $98.02 billion on travel over the three months between Memorial Day and Labor Day, according to the ADI Travel Trends Report for 2017. That's one-third of the total travel spending projected for 2017.
Deciding whether you'd benefit from travel insurance isn't a quick "yea" or 'nay." Experts say it depends on several factors, including the cost and components of your trip, where you live and where you're headed, and what potential problems you're worried about. (We are in for an "above normal" hurricane season, after all.)
"There's no simple answer, because everyone's trip is slightly different," said Christopher Elliott, who advocates on behalf of travelers through his website, Elliott.org.
You might even be covered already. A new analysis from WalletHub.com found that one-third of credit cards offer trip cancellation insurance, with an average $3,200 in coverage. Nearly 40 percent offer lost luggage insurance, and a quarter offer delayed luggage insurance.
These four questions can help you weigh your options: