An effective way to cut travel costs is to schedule trips out far in advance. But the earlier you lock down transportation and accommodations, the less certain you’ll be that something won’t come along and mess everything up. That’s where travel insurance comes in, allowing you to hedge your bets against circumstances beyond your control that scuttle your travel plans.

A Credit.com post sorts through what sort of travel insurance, if any, is best suited for you.

The first step is to decide whether or not you’d be willing to swallow the cost of your trip if you can’t make it. High-cost reservations that can’t be refunded are the best candidates for insurance.

Next, make sure you’re insuring the right things. While most luggage you bring along can probably be replaced for a reasonable cost, and thus probably isn’t worth insuring, you’ll want to secure supplemental health insurance if you’re traveling abroad, or emergency evacuations if you’re taking a cruise. It’s also important to check out your auto insurance and see how extensively you’re covered if you rent a car.

Whatever kind of trip you’re planning, it’s a good idea to check with someone who’s done the same thing to see what type of insurance they bought.

Travel Insurance: What Type Should I Get? Well, That’s Complicated [Credit.com]

(Thanks, Natalia!)

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