WEALTHY WEDNESDAY: Is travel insurance worth it?

WealthyWedsLogoUndoubtedly, whenever you’re just about ready to seal the deal on an online travel purchase you’ll come across the ubiquitous question: “Travel insurance?”

If you’re like me, you never check the box and move on to the final “submit” page. However, a study from Princeton Survey Research Associates International found 20 percent of U.S. travelers do purchase the insurance, while more than a third think it’s worth the cost.

The problem, as travel experts note, is not everyone understands how travel insurance works. For example, the owner of one consumer advocate website notes you sometimes can’t get your money back just because you decide you don’t want to go on the trip anymore; you can only get a refund for a medical reason or natural disaster.

So is travel insurance really worth the money or could you stand to save a little money on your next trip? Read this story and judge for yourself.

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