Picking the best travel insurance to buy for your coming vacation can be a daunting task. A good travel insurance plan, he said, gives you peace of mind that the money you’re spending on your trip isn’t lost if you end up not going and costs, on average, from 4 to 10 percent per person of the total cost of the trip per person. Here, we share this top tips on buying a travel insurance plan. Figure Out What You Want to Insure. Are you looking to protect an investment in nonrefundable airfare, hotel or cruise costs? Or do you need travel medical protection? Travelers who aren’t looking for travel medical insurance, for example, and want only to insure travel costs, need a trip-cancellation-only policy. Similarly, travelers who aren’t concerned about the risk of cancellation, but want medical coverage can find a number of choices for medical-only plans. These single-category plans are cheaper. Check Your Health Insurance Before Hitting the Road. Many travelers assume that their health insurance will cover them for any medical services.