With the cost of travel insurance at all time lows, and the wide range of coverage that’s available, it doesn’t make sense to hit the road without buying a travel insurance policy.

Travel insurance isn’t just for professional travelers anymore. Anyone, especially families heading out on vacation, can buy a lot of peace of mind for a few dollars.

Here’s what to look for when selecting a travel insurance policy:

Is your travel insurance provider a respected company with an A+ rating from an insurance rating organization such as A.M. Best?

Will you travel insurance reimburse you for fares and hotel costs in the event that your trip is cancelled or seriously interrupted?

Does the policy cover lost luggage as well as damage to personal property if the carrier mishandles your luggage?

Are policy limitations high enough to reimburse you for all losses?

Does the travel insurance policy have any limitations or restrictions that would make buying it not appropriate for your particular circumstances?

Does the travel insurance policy provide coverage for all family members traveling together?

Are there provisions for medical coverage if you become sick or injured in a country where your health insurance is not accepted?

If medical coverage is provided, does it cover all activities that you are likely to become involved in such as scuba diving or parasailing?

Does your travel insurance provider have 24-hour help line that can be reached from the places that you will be traveling to?

Does the policy provide arrest bond coverage in case you are involved in a legal incident while you are away from home?

Does the travel insurance policy also cover reimbursement for normal attorney and legal expenses that may be connected to an incident that occurs while you are on the road?

Does the travel insurance provider offer annual policies for people who travel frequently?

Can your claims be processed from anywhere in the world or do you have to wait until you return home to get paid?

Not all companies provide all of this coverage and services and, in fact, you might not actually require coverage from all of these perils. Your best bet is to use these guidelines to make a list of the items that are important to you and then look for a provider that meets all of your needs. That way you’ll end up with the most coverage possible for the least amount of money. Then all you have to do is hope that you never actually have to use your travel insurance.