You're already paying thousands of dollars planning the trip of a lifetime, who wants to add yet another expense for travelers insurance? For many travelers, the added expense of travel insurance seems like a big waste of money. But is it? If you're struggling to decide whether or not you need that extra policy, remember this: failing to buy travel insurance can ruin your trip and cost you money!

According to the U.S. Travel Insurance Association, only a fraction of travelers actually think of the benefits of purchasing insurance policies t cover those unexpected emergencies when traveling. Why is it so important? The three most important reasons to purchase travel insurance include:

-Peace of mind - you'll know that no matter what happens while you are away from home, there will be help available.

-Protection against the unexpected - people get sick; accidents occur and storms roll in causing havoc while on vacation.

-Protection against financial loss - you've spent a fortune planning your trip, insurance can help you recoup lost planning costs if you need to cancel due to illness; terrorism or natural disasters.

So, what types of travel insurance should you consider?

That depends on where you'll be traveling (domestic or abroad) and how much your trip costs. The most common types of travel insurance include: flight and trip cancellation insurance; travel health insurance; baggage coverage; and even medical evacuation insurance, which can mean the difference between life and death if traveling to areas with primitive medical facilities.

Is it really necessary to add ye another expense onto your travel bill by obtaining these policies? It can be!

Consider these important reasons to buy travel insurance:

1. Cancelled flights.
2. Lost medication. Travel medical insurance will help get you a refill quickly and easily.
3. Theft. What do you do if your passport and wallet are stolen? Travel insurance will help you get emergency cash and a replacement passport.
4. Medical Evacuation. Whether you fall ill, or are in an accident, evacuation insurance can help you get to the medical services you need.
5. You need to cancel your trip due to illness.
6. Bankruptcy. If your cruise line, airline or tour operator goes bankrupt, insurance will help you recoup those non-refundable expenses.
8. A terrorist incident occurs in the city where you're planning to visit and you want to cancel your trip.
9. A hurricane forces you to evacuate your resort, hotel or cruise.

Still think hat you don't need travel insurance? Think again. In today's world of travel, it can help make the emergencies experienced on vacation a little easier to handle.