MEDICAL EMERGENCIES: One of the most common risks is a medical emergency. You could fall sick or get injured while away from your country and your medical coverage might not extend to the area where you are travelling. Being unfamiliar with the territory, you might also find it difficult to access needed medical facilities.

Travel insurance can cover such emergencies. Insurers would meet your medical expenses, subject to certain exceptions and limits. Some insurers might also help you to access proper medical facilities in the unfamiliar territory.

Exceptions generally include problems arising from pre-existing medical conditions. Dental medications might be restricted to pain relief or subject to specified monetary limits.

Insurance cover for risks associated with winter sports and other hazardous adventures are likely to cost higher than that for normal medical emergencies. So are covers for pre-existing medical conditions.

TRIP CANCELLATION OR INTERRUPTION: There are several situations where you might find yourself unable to travel and have to forfeit the money you paid for bookings. Examples include medical problems, your airline going out of business, legal problems and natural disasters. Increasingly tight airport security measures and changing weather patterns are two emerging factors that could lead to destroying your vacation experience.

You might also experience delays that cause serious financial costs, not reimbursed by your carrier.

Trip cancellation insurance is gaining in importance these days. If your insurance covers cancellation risks, you could recover costs resulting from cancellations and delays from the insurers. Insurers might meet even repatriation expenses in serious cases.

LOSS OF TRAVEL DOCUMENTS: Loss of passport and other travel documents could cause very serious problems when you are in a foreign country. If you have also lost you wallet with money, you might also not be able to afford the costs for getting essential travel documents.

With insurance cover, you could recover your costs, get cash transferred to you immediately and even get help in getting fresh travel documents.

BAGGAGE LOSS OR DELAYS: This is another common risk that might cause considerable inconvenience. Again, appropriate insurance cover could help you to minimize the inconvenience. Insurers pay you to buy essential clothing and personal articles.

IDENTITY THEFT: With increasing use of credit cards and online banking, identity theft is becoming a serious problem. If this occurs while you are travelling, you might not be in a position to take prompt remedial measures.

If you have travel insurance cover against identity theft, the insurers would lend the services of their fraud experts. With their assistance, you could handle suspected identity theft even while you are abroad. You could also get reimbursement for certain related costs subject to specified limits.

When you are in a foreign country unfamiliar with the territory and language, it is not only money that matters. Things that are managed routinely in familiar territory could become almost unmanageable abroad. For example, you might not know how to proceed in some emergency, or you might not be able to explain your problem in a foreign language.

In such situations, some handholding help could prove to be of immense value. And that precisely is what many insurers are offering these days, with promises of 24/7 help with specific issues. With their worldwide tie-ups, insurers would be in a better position to handle local issues. Toll free call facilities are offered to seek help in such instances.

For example, your insurance might cover emergency evacuation to the nearest medical facility.

You would get the best terms direct from insurers. If the insurance comes through your travel agent or other intermediaries, it is quite likely to include their margins. You might also not be able to negotiate the exact cover you desire.

These days, you can even purchase insurance online if your age is below the ceiling allowed, usually 65. There are also cost-comparison sites online that would help you get the best bargains.

If you go about it properly, you could get your travel insurance at much cheaper rates.