If you need to cancel or interrupt a trip because of a major illness or death in the family, you can lose thousands of dollars, especially if you've prepaid your entire honeymoon. That's where trip cancellation insurance comes in.

If you purchase a policy from a travel insurance company, not the cruise line or travel supplier, your policy usually also covers your investment in case a travel supplier defaults or goes out of business. Be sure that the policy covers operator "failure" or "default," not just bankruptcy, because sometimes companies stop providing service without declaring bankruptcy.

Always read the fine print. Some policies exclude certain conditions, such as a medical problem that you were being treated for at the time you bought the policy. Some also exclude injuries from certain sports and congenital conditions.

The issue might seem a bit more important to you, especially if you're planning a lengthy trip through exotic areas, some of which may be a bit more risky to visit. Whatever your decision, research travel insurance plans well, and see if your existing insurance plans will cover you for your world adventures.

If you need to find new travel insurance coverage, you'll have plenty of options to research. Several respected travel experts and publications have recommended an insurance company called Travel Guard International which offers plans to cover such expenses as credit card theft or fraud during your trip, damage to or loss of your valuables, emergency assistance, medical fees, and expenses related to lost passports and travel tickets, among other unforeseen circumstances. Travel insurance packages are also offered as part of membership benefits in some travel clubs, such as AAA. As with any plan, research well and read the fine print.

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