If you fall sick or are involved in a debilitating accident while travelling, it is a bit of a double whammy. Not only do you suffer financially through possible medical or hospital expenses, your travel plans are disrupted, often resulting in financial disappointment from non-refundable accommodation, tours, airfares and others. Lost credit cards, cash, traveller's cheques and personal possessions can also lead to both holiday and long-term financial stress.

Anyway you look at it - the small amount you pay for travel insurance just doesn't rate when compared to the possible consequences - BUT - that doesn't mean you have to pay more than you need, and it is only wise to get the best, most comprehensive, yet most economical cover possible.

What To Look For When Purchasing Travel Insurance

For a start, purchasing travel insurance through a travel agent or supplier can cost up to 66% more. In addition, travel agents may not always have back up in the event of bankruptcy, whereas all quality insurance companies are underwritten by a reputable insurance body, providing you with absolute protection.

Purchase your trip insurance online. Because online quotation and facilitation costs the insurer less, you pay less, getting the same high quality product for around 10% less.

Be sure of the credentials and the reliability of your insurance company - they should have full details on their web site at the least.

Always check the details of the policy. Different levels of cover may have different limits they pay up to, or may cover you for varying eventualities. This is due to the wide variety of methods of travel, locations visited, variety of sporting activities or events participated in, the age of those travelling or any pre-existing medical conditions. Always ensure your policy adequately covers you for your unique travel needs.

There are some items that should always be in every policy no matter the level, so be sure you are covered for at least the following:

Unlimited Overseas Emergency Medical Assistance and Unlimited Overseas Medical, Hospital and Dental Expenses - international travel only

Unlimited Cancellation Fees and Lost Deposits - this is often for international travel

Personal Liability

Accidental Death and Permanent Disability

Travel Documents, Credit Cards and Travellers Cheques

Luggage and Personal Effects

If you follow these tips on buying good travel insurance you should achieve both appropriate and economical cover.