Should You Be Buying This Flight Add-On? 3 Questions to Ask Yourself

Summer officially kicks off next week, meaning vacation season will be in full swing. According to the Adobe Digital Insights U.S. Travel Trends Report for 2017, consumers will spend nearly $100 billion on travel now through Labor Day. When you embark on your summer vacation, nothing can more quickly ruin your hard-earned time off than lost luggage, a canceled flight, or another unplanned occurrence that derails your plans.

One solution to these potential problems is buying travel insurance when you book your flight. But whether or not you need travel insurance comes down to more than a simple preference. There are specific questions you should ask yourself when deciding whether travel insurance is right for you. “Experts say it depends on several factors, including the cost and components of your trip, where you live and where you’re headed, what potential problems you’re worried about,” explains a recent article on CNBC. It proposes the below questions to ask yourself when deciding whether or not travel insurance is right for your trip.

What are the costs at stake? Before dropping any more cash on insuring your trip, you should calculate how much money you risk losing if something were to come up. “Check the change and cancellation policies for travel components including flights, hotels, cruises and car rentals, as well as any destination activities already purchased, such as theme park tickets.” If a delayed or canceled flight would be a hard hit to your wallet—meaning missing nonrefundable experiences—then it's probably worth it to opt in for travel insurance.

What are the variables? Certain vacation destinations pose a higher likelihood of outside factors impeding on your plans. For example, if you are traveling to a locale that's hit by hurricane season or venturing somewhere where the political climate is unsteady, you may want to purchase cancel-for-any-reason coverage to prepare for these what-ifs when you're booking weeks or months ahead.

Do you already have coverage? There's a possibility your credit card already offers travel insurance for hotels or flights booked with the card. Your homeowners or renters insurance may cover your lost baggage, even when you're away from home. Before seeking out a third-party travel insurance policy, see what's covered by the insurance or perks you already have.

Head below to shop our favorite travel essentials.

Now find out what else you should do before booking your flight.