Travel Deal of the Day (Feb. 13, 2007)

Are you booking a package with a large penalty for cancellation? Are you taking a cruise? If so, you should seriously consider insurance for your trip.

The Deal:
Use www.insuremytrip.com to find insurance for trips with large penalties for cancellation.

How:
Go to Insure My Trip

The Inside Scoop:
It is especially important that you insure for unexpected events when most or all of your trip is nonrefundable. Cruises, for instance, will depart without you, regardless of your reason for being unable to arrive in time for the ship’s departure.

It is important to obtain insurance with a company separate from the business that is providing your transportation. To protect against bankruptcy by a cruise company, for instance, obtain insurance for a cruise from a third party rather than from the cruise company directly.

It is important to verify which costs are reimbursed by your insurance policy and what events trigger coverage. Most coverage includes reimbursement if a family member becomes ill and/or passes away – but the definition of family member can vary tremendously.