Protect your trip from an uncertain economy

"The fear's back!" blares a CNNMoney headline over a graph showing the stock market's latest plunge. Other news stories are filled with phrases like "volatile markets" and "economic uncertainty."

But despite the turmoil, one thing is certain: we still want to travel. (If nothing else, I need a vacation from these scary headlines!) Here are a few ways to hedge your next trip against economic uncertainty.

1. Buy travel insurance. Maybe you can afford your trip to Thailand now, but what if you lose your job? Not all policies offer refunds if you have to nix a trip for this reason; look specifically for lay-off protection, or choose a policy with a "cancel for any reason" clause.

2. Keep an eye out for prices that go down after you buy. You'll have to check for change fees and cancellation penalties first, but often you can update your reservation — or cancel and rebook — to take advantage of better rates on airline tickets, hotels and the like. (See Watch for falling hotel rates for more information.)

3. Read reviews. When every vacation dollar is precious, you don't want to waste any of them on a fleabag hotel, a rotten restaurant meal or a chronically late flight. You can find hotel reviews at TripAdvisor.com and big booking sites; restaurant reviews at Yelp.com and Urbanspoon.com; and airlines' on-time records at FlightStats.com. JDPower.com is a good resource for ratings of car rental companies and airlines.

4. Have a back-up plan. Dealing with a lost passport or stolen wallet can eat up valuable vacation time. Pack a copy of your passport and credit cards (in a separate place from the originals, of course), and leave one with a friend or family member at home. You may also want to consider sending a PDF copy to your e-mail, where you can access it from any computer around the world. Having a few spare passport photos on hand is also a good idea. (See How to take on travel trouble for more advice.)

5. Know your exchange rates. Economic volatility can make it difficult to tell just how much you're really paying for that gorgeous Murano glass souvenir. Stay up to date with currency fluctuations by checking XE.com or Oanda.com, both of which offer smartphone apps. (See also how to Get the best exchange rate.)

6. Allow some wiggle room. It's sad but true: every trip ends up costing more than you expect. Avoid sticker shock on your credit card statement by setting aside extra money before you leave to cover unforeseen expenses. (A Travel budget calculator can help you plan.)

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