Is travel insurance worth it? When it pays off

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November 10, 2026 / 8:33 AM EST / CBS News

Travel insurance can be a smart investment for many travelers. It can cover financial losses if your trip is canceled or delayed, reimburse you for lost baggage, and, most importantly, cover the costs of medical care or evacuation if needed, which can be worth thousands of dollars.

But not everyone requires coverage. And with an average premium of approximately $457 for a comprehensive policy (or around 6% of the average trip cost), according to SquareMouth travel insurance (as of mid-October 2026), you shouldn't buy one without careful consideration, accounting for both the costs you'll pay and the coverage you'll receive.

Are you planning a big trip soon? Below, we'll examine when travel insurance might be a worthwhile investment — and when you can probably skip coverage.

Find out more about your travel insurance options online now.

Travel insurance can be pricey, but it's often worth the cost, particularly if there's a chance your trip may be canceled, interrupted, or otherwise changed.

There's nuance to every situation, of course, but here's…

Original source: https://www.cbsnews.com/moneywatch/