Travel insurance can protect you from substantial losses that result from a variety of situations, including cancelled trips, lost baggage, medical emergencies, supplier defaults, as well as other unforeseen circumstances.
Travel insurance policies provide a comprehensive list of risks covered, however as with other insurances, Travel Insurance Policies do have exclusions and it is important to ensure that the policy provides you with sufficient cover.
There are certain instances where you really need to ensure the travel insurance cover offered is sufficient. For example:
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Pre-existing Medical conditions
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Cancelling your holiday
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Sports and Activities
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Pregnancy
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Age limitations
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Valuables
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Claim settlement limitations
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Destination
Look at the cost of an annual policy if you intend to travel abroad twice within a twelve month period (by staging your annual holidays carefully, you may be able to get two trips on one policy). Annual policies are only marginally more expensive that single trip policies.
Price isn't always an indication as to the quality of an insurance policy and it is always better to check before you buy rather than find you are uninsured after the fact.