All insurance is a means of protecting yourself against the cost of risks you cannot afford to pay yourself. Travel involves two big-dollar risks for which insurance may be worthwhile:

(1) protection against cancellation penalties and

(2) for emergency medical evacuation.

Do club members need insurance for a ski trip? The answer is yes, as much as they need it for any other travel.

Almost every travel supplier has “fine print” penalties for canceling trip arrangements. Cancellation penalties typically become more onerous as the departure date nears.

Of particular relevance are non-refundable airfares. The airlines are enforcing more strict rules with greater vigilance. The readily obtained doctor’s certificate may no longer be sufficient evidence. Therefore, it is advisable to check with your insurance provider to see what documents you would need to provide to prove your claim.

Contrary to common belief, several of the most common reasons for canceling a trip are almost never covered by insurance. You may receive some sympathy, but no compensation, when you cancel due to a change of mind, a change in financial circumstances, or because of business obligations. These reasons simply are not covered in most policies.

What happens if you have a severe accident or become ill in an area lacking adequate medical facilities? You may have to be evacuated to a distant medical facility. In this case you suffer a heavy monetary cost, perhaps several thousands of dollars’ worth, not covered by your regular medical insurance.

If you travel overseas this risk is even higher. A broken bone can involve extending your stay, while the rest of your club members return home. As a minimum, returning on a scheduled flight may require a long ambulance transfer and purchasing an additional seat. Stretcher cases require purchasing several seats plus an attendant’s cost.

Most travel insurance policies include benefits for medical, accident, theft, delay/overbooking, and airline flight accident. Often these are “bundled” together with the key components, so you may get them whether or not you want them. However, if you have to pay extra for them, it may not be worth the money. You probably do not need them. Here’s why:

• Most travelers are covered by their own health insurance for medical costs, even if incurred away from home, even overseas. It may be wise to check with the medical insurance provider.
• If you really need accident insurance, you need it year-round, not just when you travel.
• It is likely that your homeowner’s or tenant’s insurance covers loss, theft, or damage to your personal effects, even when you travel.
• The costs of delay or overbooking may be covered by the airlines, and are a relatively minor expenditure if not.
• Airline flight insurance is a grossly overpriced type of life insurance that preys upon people’s fear of flying.