Are you planning a backpacking trip in Europe with the family? Maybe a Caribbean cruise for your brother's destination wedding? Before you jump on the plane, it’s a good idea to make sure you’re adequately covered in the event something unexpected happens. A solution to this is purchasing travel insurance. But in many cases, it simply duplicates coverage you already have.

Consider these tips before purchasing travel insurance:

• Know what travel insurance provides.
  • trip cancellation
  • trip interruption
  • baggage coverage
  • emergency medical assistance
  • accidental death
• Find out if you’re already covered.
  • Theft and other losses away from home may be covered under your homeowners’ and renters’ policies
  • Your medical and auto insurance may be valid in other countries.
  • Your life insurance policy should cover you and your family while you travel.
  • Airlines must reimburse you if they lose your bags.
• Check the coverage provided by your credit cards and auto club memberships.
• If you do buy travel insurance, buy through a third-party insurance company. In most cases, supplier-provided coverage won’t cover you if they go bankrupt.
• Ask questions.
  • What disasters are covered?
  • What restrictions apply?
  • What type of assistance does the insurance company provide if I have a medical emergency?
  • How is reimbursement determined?
• Know the deal with trip-cancellation coverage. Even in the case of natural disasters and other dramatic events beyond a travel provider’s control, you’re likely to get a refund if your trip is completely canceled.
• Understand cancellation waivers. Many cruise and tour operators offer these waivers in case you have to cancel your trip. While the waivers provide some protection, they often have many restrictions.
• Consider extra coverage on your current policies. If you’re traveling with expensive electronic equipment, sporting gear or jewelry, consider adding a scheduled personal property endorsement to your homeowners' or renters' policy. This allows you to buy extra coverage for those items by listing them individually for their appraised value.
• Recognize the value of emergency medical assistance coverage. This would cover you if you have to be airlifted off a mountain or receiveprolonged treatment in a foreign hospital. Before you buy, find out whether your health insurer would cover you overseas and pay for your flight home.

Information from Today.