Those waivers cover travelers who cancel a trip, usually for medical reasons, but often pay nothing if the supplier cancels the trip or, like Regency Cruise Line in 1995, goes out of business. Many offer details and some sell directly on the Internet.
Nothing guarantees a perfect, timely, healthy vacation.
But many people turn to travel insurance so their wallets won't suffer as well when plans go amiss. Reclaim prepayments if an illness, injury or death in the family interferes with a trip. Pay for a safe, fast, medical evacuation if necessary. The decision to buy depends on the kind of trip planned. If it involves a big prepayment, insurance makes sense.