SAN FRANCISCO (KGO) -- If you are planning a holiday getaway, you might want to consider travel insurance.
In an uncertain world, with natural disasters, terrorist attacks or even personal injuries, canceling a trip at the last minute could mean money out the window.
In a partnership with Consumer Reports, 7 On Your Side's Michael Finney explains why it may make sense to take out insurance.
Paulette Mann and her family love to travel, but one ski trip was canceled abruptly.
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Two weeks before departure, Paulette tore her knee and had to have surgery. "The first thing I thought was: 'Oh my God, I have travel insurance,'" she said.
Paulette had prepaid everything from airfare, hotel, ski lifts, rentals, and excursions, plus 10-percent of the trip's cost to her insurance company. "I think the insurance company probably paid back about 80 to 90 percent," she said.
Premium insurance policies like Paulette's are more expensive, but allowed her to cancel for any reason and gave her the most flexibility. "It's really important that consumers read the policy carefully, so they understand exactly what is and isn't covered," said Margot Gilman, Consumer Reports Business Editor.
Some polices offer a waiver for pre-existing medical conditions, provides healthcare coverage, or covers medical evacuations for more adventurous trips.
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Do your research. Travel agents may have preferred relationships with only a couple of insurance providers.
Instead, use comparison websites like InsureMyTrip.com and SquareMouth.com. Each sells more than 100 policies from a variety of companies.
And stick to insurance that will cover potentially bigger losses. "It makes you feel like you're not at risk for losing a whole chunk of change. Absolutely gives you peace of mind," Paulette said.
You can go to comparison websites like Square Mouth, who can clearly explain coverage and determine exactly what you need.
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And do not forget, many credit card companies also offer travel insurance, so it is good to check with them, too.
Click here for more 7 On Your Side video and stories.
Written and produced by Justin Mendoza
All Consumer Reports material Copyright 2017 Consumer Reports, Inc. ALL RIGHTS RESERVED. Consumer Reports is a not-for-profit organization which accepts no advertising. It has no commercial relationship with any advertiser or sponsor on this site. For more information visit consumer.org.
Why you might want to consider travel insurance
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