Skip those airport kiosk life-insurance policies that cover you in case of a crash. At roughly $60 per person per trip, they may seem to be a tempting bargain. But as long as you have a term or whole-life policy in place, you don't need extra coverage. Read through your credit-card agreement too: Some companies provide complimentary life coverage if you purchase the airline ticket with their card.
Also think hard before you decide to invest in trip-cancellation insurance. While these policies sound like a smart investment -- especially if you're paying in advance for a splurge vacation package -- they're pricey (adding 9 to 12 percent to your trip cost) and won't reimburse you if you need to cancel due to a work conflict or an illness that is deemed to be preexisting. For total protection, you'll need to spring for a comprehensive policy that may cost as much as 18 percent of your trip. If that's what it takes to help you sleep better at night, go right ahead. "Just don't purchase it from the same agency or supplier that booked your vacation," says Peter Greenberg, author of Tough Times, Great Travel. A reputable third-party insurer will protect you in case the company goes bust before you take off or set sail.