Insurance protection is always looked at as a necessary nuisance and expense-no one wants to buy it but we all understand it's needed in the event of certain circumstances. What's worse is not knowing whether our current coverage is enough or if additional protection is needed-particularly when we are traveling.
There are some instances when we should think about purchasing additional insurance coverage, and then there are other cases where it might not be necessary:
Airline trip coverage and emergency medical assistance: Individuals purchasing travel insurance should understand that depending on the airline, trip protection insurance may not cover all expenses, such as emergency medical treatment, in the event of an illness. Some offer this coverage, but it's likely very limited. Individuals should consider purchasing supplemental emergency medical coverage particularly if traveling to a remote or high risk destination.
Credit card trip protection: Those using certain credit cards may not need to purchase trip protection with their airline providers. Their credit card company may already offer trip protection as a travel perk. Purchasing additional coverage may turn out to be duplicative.
Rental car insurance: Many travelers renting a car on their vacation also tend to purchase auto insurance coverage provided by the rental car company. In some instances, they are simply paying for insurance they already have with their auto insurance tied to their personal vehicle. Travelers should consider opting out of this additional fee.
Source: U.S. News & World Report, Traveling? Beware These 5 Common Insurance Myths, Wise Bread, July 8, 2013