Your trip won’t flop; wanna bet?
“Is Insurance Really Necessary? Yes. No.” [More for Your Money, Nov. 11] misses the critical point of any insurance buying decision. Never buy insurance to cover a loss you can afford. Insurance is a bet with the company about whether you will suffer a loss. The company wins enough of the bets to cover not only the occasional loss but also its overhead. When a trip has to be canceled, the money is gone. If you can’t afford to lose the money, the question is not whether to buy trip insurance. It’s whether you should take the trip at all.
Arthur O. Armstrong
Manhattan Beach
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