NewsDialy
The case for travel insurance is simple: it protects money you have already spent and cannot easily recover.
In policy terms, those are prepaid, nonrefundable costs, meaning money spent on flights and lodging that you cannot get back if a trip falls apart.
Whether buying a policy makes financial sense depends on how large that exposure is and how far from home you are traveling.
A comprehensive travel insurance policy typically costs roughly 4% to 10% of total prepaid, nonrefundable trip costs, according to InsureMyTrip, a travel insurance comparison site.
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