When should you buy travel insurance, how can you save money?

HOUSTON – With summer vacations on tap, you may be wondering if you need travel insurance.
If your trip costs in the thousands of dollars and there's a chance you may have to cancel, trip cancellation insurance is worth the money. 

But before you buy with the airline or hotel, check your existing coverage. 

Check your credit card coverages: 

If you book with your card, most offer some protection for lost luggage, car rental damage or trip cancellation. 

Check your car insurance:

Many will also cover rental car damage. 

If you travel a lot, Consumer Reports says you should look into annual plans that can cover multiple trips in the same year. Companies like April Travel Protection offer annual plans. Travel Insurance.com can help you compare multiple plans at one time.