Travel insurance was once considered a luxury for the special few. No one that I knew ever bought it. No one I knew ever seemed to need it either. But times have changed and it is now more than a luxury - it can be a lifesaver. Not only literally (if you have medical insurance reserved) but figuratively as well, since it can turn a disaster of a trip into a tolerable ordeal. Everyone in the 'old days' thought flight insurance was simply beneficial if the plane went down - which few ever do. Which is sort of strange anyway - if the plane goes down, having insurance would seem to be an item one would not think of as very important (considering).

I think one of the main reasons travel insurance is now so desirable is because the airlines have become so sticky about allowing changes. Seems like it used to be that if you missed a flight, you could easily re-book at the same fare and for the same day. Now, you will likely be charged hundreds if not thousands of dollars more in change fees, fare changes and you likely will have to stay in a hotel wherever you are stranded. For instance, suppose you have a simple non-stop flight to Tokyo, where you have a hotel room reserved. A traffic accident prevents you from arriving at the airport on time and now you have to re-book your discounted fare, perhaps to full fare or you pay a huge change fee. Your expensive hotel in Tokyo won't let you cancel on the same day AND you have to find a room near the airport. All this could easily cost you hundreds of dollars in extra fees or expenses that you have to pay out of pocket.

But now you can buy pretty inexpensive travel insurance and get just the protection you need. Some people have excellent health plans that would cover them overseas, some may need additional protection 'just in case'. You can buy insurance to cover flight cancellations, delays which caused you to miss a connection, from overbookings by airlines or hotels, from being robbed while on a cruise to almost anything conceivable that could happen on a trip. The charges for insurance coverage may surprise you also - to cover flight cancellations or missed flights may only cost $10-$20 dollars. Medical and emergency room coverage is obviously more expensive but more than worth it if you were to fall and hit your head and spend a week in a hospital somewhere. No one wants to return home owing $13,000 to a hospital because you fell off a horse while enjoying a trail ride in Mexico.

There are many times when trip insurance is not risk/reward sensible. Short trips where the tickets are cheap or trips where other flights are readily available if you were to miss one may not be worth the extra premium - no matter how small it is. But if you have 4 tickets for your family to go visit Grandma and Grandpa in the blizzardy East over Christmas, you may not want to risk getting stuck in Omaha for your connecting flight because you were delayed getting in. Changing four tickets could cost a small bundle in addition to a hotel room or two so certain circumstances call for closer scrutiny of the wisdom to carry travel insurance. There are MANY providers who offer plans that will undoubtedly fit your needs so check into their plans before you tempt Mother Nature. You may find the added cost is worth the peace of mind even if all goes well.

David C. Reynolds is a longtime veteran of the Hotel business who offers common sense, money saving advice on how to find rooms, booking hotels as cheap as possible, travel and ground transportation tips, understanding hotel reviews and occasional destination 'specials'. He is the author of three travel tips books as well as a blog devoted to travel. If you would like more information about travel insurance, visit his blog at http://www.bookhotelscheaper.com and look for the insurance category and link.