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Putting the final touches on your 2025 travel plans is an exciting time. What’s not so exciting? Thinking about all of the things that could go wrong.

Forty-four percent of would-be travelers are worried about delays and cancellations this year, and one in five are even avoiding travel because of it, according to a recent survey from a unit of Fidelity National Financial.

And it’s understandable. There’s always that lingering worry that you or your loved ones will get sick before or during a big trip, but nowadays all the extreme weather can make travelling feel pretty unpredictable. And then there is the state of the world. It’s hard not to consider how overseas wars and other international political turbulence could affect your plans.

One way to protect yourself — financially, at least — is travel insurance. But how does it work and is it worth the cost? Now’s a great time to learn more.

Types of Travel Insurance Plans

Travel insurance can be confusing, partly because different types cover different things. People often misuse terms, too, referring to various forms of coverage interchangeably. And there are lots of rules and stipulations about the amount of coverage and the circumstances, all of which can vary by provider.

To try to simplify things, here’s a quick breakdown. Travel insurance is generally the umbrella term used to describe four main types of protection:

•   Trip cancellation: The biggie. If you can’t travel for certain reasons outside of your control, you can get back some or all of the money you’ve already paid. Covered reasons may include illness, the death of a non-traveling family member, weather, an unforeseen natural disaster, or a legal obligation like jury duty. The key is what’s listed in the policy. (If you’re worried about political unrest or other things that aren’t listed, you might be able to pay extra to add a “cancel for any reason” provision to your policy. Just know that this will cost more and usually only cover 50% to 75% of a trip’s cost.)

•   Trip interruption/delay: While trip cancellation covers trips before they begin, this covers trips that are cut short or otherwise interrupted. It can be something as simple as your flight is delayed, causing you to miss connecting flights you’ve already paid for. Sometimes lodging and other expenses are covered while you’re waylaid, too.

•   Baggage: Losing your luggage is a huge pain. A lost baggage policy pays you for personal belongings lost or stolen in transit, and a baggage delay policy covers things you need to buy while waiting for your suitcase to catch up to you.

•   Medical care: Travel medical insurance pays the doctor bill while you’re abroad, while emergency evacuation insurance foots the bill to bring you stateside again if needed.

Sound like a lot? It is. But you can often get more comprehensive plans that bundle more than one type. Just remember, it’s on you to make sure that your coverage has all the features you want.

Cost of Travel Insurance

Having this type of extra peace of mind is great, but the key question is whether it’s worth the cost, right? A typical bundled travel insurance policy usually costs between 4% and 8% of the price of a trip, according to the U.S. Travel Insurance Association. That’s for trip cancellations and delays, baggage loss and delays, and travel medical coverage and evacuation costs.

(If you’re wondering, SoFi doesn’t offer travel insurance. But if you want to free up some of your travel budget for insurance, consider checking out the hotel deals SoFi offers members who book travel in the SoFi app.)

How to Decide Whether to Get Travel Insurance

Start with this basic question: Can you afford the financial hit if (insert possible travel fiasco here) happens? Can you handle either paying double to book a second trip, or skipping it altogether? If not, it’s a good idea to consider travel insurance. You’ll also want to check the coverage you either already have or are being offered when you book the vacation.

•   Consider your risks: What will you be doing on the trip? Do you have health conditions that might require you to make an early exodus? Consider emergency evacuation coverage. What about your stuff? If you’re just packing shorts and t-shirts for your summer getaway, then maybe you’re not worried about losing your luggage. But if you’re bringing along your spiffy new stand-up paddleboard, the scales might tip in the “buy insurance” direction.

•   Check your existing coverage: See what’s covered and what isn’t. Health insurance here doesn’t necessarily apply abroad. (Medicare and Medicaid won’t cover you overseas, for instance.) But many credit cards offer some travel insurance benefits and you may be able to use your auto policy for renting a car or your renters or homeowners coverage for baggage theft.

•   See what you can get through your airline, hotel or tour operator: Travel insurance can often be purchased from travel agents and travel suppliers as well as insurance companies and brokers. So shop around to see who has the best prices for the most comprehensive coverage.

Really Read the Fine Print

Travel insurance works a bit differently from other insurance you’re used to. It can be a bit scattershot, and you don’t want to get caught off guard without protection you thought you had.

Case in point: If a tree falls on your home, your homeowners insurance will cover the damage. But what if that fallen tree keeps you from going on a trip? Will travel insurance cover your costs? Maybe not. Since travel insurance is for unforeseen events, it typically doesn’t cover claims related to a tropical or winter storm if you bought the insurance after the storm was on the radar.

These kinds of variables make it especially important to read and understand the fine print before you buy any coverage. Your credit card might offer a loss damage waiver when you rent a car, for example — but it’s usually secondary coverage, meaning it doesn’t kick in unless you file a claim with your own auto insurer or the rental car policy first. And that could affect your auto insurance premium for years.

Another example? Medical travel insurance can help if you get sick with a nasty stomach bug — but not necessarily if you’re injured in a skiing or SCUBA diving accident. You could need special coverage for those kinds of higher-risk activities.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

It’s a logical question if you’ve got the yard space and the time: The price of eggs has spiked so high, would you be better off raising your own chickens?

What about fruits and vegetables? With tariffs on top of inflation, is it time to invest in a serious garden?

Getting a backyard flock of chickens is apparently so popular right now that there are chick shortages at some local farm stores and hatcheries, The Atlantic recently reported.

But can you actually save money by doing it yourself? When it comes to eggs, that’s going to be a no, according to professors from the University of Tennessee’s Institute of Agriculture.

“Eggs may be expensive, but backyard chickens are even more expensive,” they wrote in a paper this month. They’re also “difficult to care for and a high-maintenance investment, especially if you are new to the world of agriculture and know little or nothing about caring for livestock.”

Here are a few things to keep in mind: Chicks range from about $5 each to perhaps $50 or $60, depending on breed. Even if you pay about the same price for a chick as a carton of eggs, you’ll need lots of other things to translate that fluff into food.

Expect to spend around $1,500 to get started with the chicks themselves, the initial heat lamp and container, a mid-priced coop, the nesting boxes, the food, the feeder, and the other necessary supplies, according to Lisa Steele, a fifth-generation chicken keeper, author and blogger.

Let’s assume your small flock of three to six chickens yields a dozen eggs a week. That works out to about $29 a dozen during your first year.

But wait — the math gets worse. Chicks don’t start laying eggs until they are three or four months old, and they may stop during the winter due to lack of daylight. Then, after three or four years, they’ll stop laying for good — but can still live for years after that. To stay in eggs, you’ll need to buy more chickens every few years.

Ok, so if eggs are too hard, what about growing your own fruits and vegetables?

That’s also complicated, though potentially more cost-effective. It’s hard to find definitive data, but according to one 2014 cost-benefit analysis published by Oregon State University, the average garden produces $677 worth of fruits and vegetables and costs $238 in materials and supplies.

Still, your success is very dependent on where you live, what you grow, and if the weather cooperates, among other things. And there are many problems that can roll back or wipe out any actual savings, especially if you’re not very experienced.

So what? Growing your own food can be healthy and therapeutic, benefiting your mind and body. But don’t assume it’s going to save you money. As with any investment, it’s worthwhile to assess both the initial and ongoing costs. And make sure to consider what’s arguably the most important factor: Your time.

Related Reading

•   The Cost & Benefits of Raising Egg-Laying Chickens (Wilco Farm Stores)

•   Egg Markets Overview (U.S. Department of Agriculture)

•   Estimating Costs and Benefits of Vegetable Gardening (University of Florida Gardening Extension)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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