Travel insurance can protect against unforeseen events that may cause you to cancel your travel plans, reimburse nonrefundable deposits, cover miscellaneous expenses caused by travel delays such as transportation and lodging expenses or, if baggage is delayed, the purchase of essential items. It can also protect against lost, stolen or damaged baggage. Travel insurance typically costs 5 to 7 percent of the total trip cost, as little as $35 and up to a couple hundred dollars.

A few companies that offer travel insurance for vacation rental travelers

 

Try to purchase your travel insurance policy within seven days of booking in order to get the best rates. Make sure to read the policy guidelines carefully before purchasing to understand what kinds of cancellations are covered.