Trip cancellation insurance

Trip insurance, which typically costs 5 to 7 percent of the price of the vacation, reimburses you if the cruise line or tour operator cancels for any reason. This could include, for instance, the operator going out of business.

Trip insurance also provides coverage if you have to cancel the trip due to sickness, a death in the family, or other calamity listed in the policy. In addition, if you or any immediate family member becomes seriously ill or is injured during the trip, most policies reimburse you for the unused portion of the vacation.