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This free WSJ article covers the perils of travel insurance. Travel insurance pays you the money that you paid up front to book a trip if you must cancel the trip due to an unforeseen illness, for instance, or due to unforeseen events that would make the trip unsafe. Unforeseen is the keyword to remember. Travel insurance will not pay just because you are afraid to go, and it will not pay out if there was a hint of the danger when you bought the policy. Thus, for instance, once a hurricane is named, it will not cover anyone who purchased travel insurance after the naming for that hurricane. Generally, these policies have so many exclusions that you will be lucky to get paid at all. Self-insurance makes more sense here, especially when you consider that airlines, hotels, and other businesses involved in the tourist trade will waive restrictions on rebooking, or even refund your money.
One good reason to buy travel insurance is for medical coverage outside of the country, since many health insurance policies do not cover treatment outside of the United States, or may not cover you in a particular country.
You can compare the coverage and exclusions of many policies at http://www.totaltravelinsurance.com and http://squaremouth.com. Another site to check is http://InsureMyTrip.com.
R.V. Nuccio & Associates, Inc. operates in all 50 States and Puerto Rico as an agent for the Fireman's Fund. Products include multi-cover package insurance programs for the following classes of business:
Provides coverage summaries, applications and in most cases, self-rating worksheets in .pdf format.