Do you really need travel insurance for your family vacation?

FOX's Lisa Brady has this week's "FOX on Family":

Nowadays, when you book flights, or a cruise for your family, there's an option to buy travel insurance:

(Freedman) "For a lot of families, a vacation might really be their third biggest expense after their home and after their vehicle."

So the U.S. Travel Insurance Association considers it a wise investment to protect against potential losses from cancelling or interrupting a trip.

Megan Freedman is the trade group's executive director:

(Freedman) "If you had to book some extra hotel room nights because of the delay, could you afford to just cover that expense out of pocket. If your luggage got lost  and you had to replace things, is that something that you could cover out of pocket?"

Or an unforeseen medical expense. But you have to decide if the cost up front is worth it for your family, typically about four-to-eight percent of the total trip cost.

Freedman says the most popular kind, trip cancellation, is comprehensive, often including someone to call; especially helpful if there's a language barrier.

But the fine print can vary, so find out what it covers and keep a record of all your travel transactions.

With FOX on Family, I'm Lisa Brady.

Follow the U.S. Travel Insurance Association on Twitter: @USTravel