Travel insurance is generally left off the list when people travel, but it’s a life-saver if something goes wrong. Here’s why.

The need for travel insurance

We all hope for the best holiday trip but sometimes things don’t go as planned. Flight delays or lost luggage can cause a lot of stress, especially if you have a family. In the event of lost luggage, many insurance policies will give you funds to buy new clothes and other essentials up to a limit and until your luggage is found.

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In the case of a flight delayed for more a day, some insurance policies will cover the cost for you and your family to take accommodation in a hotel, or give you cash up to a certain amount for hotel expenses.

If you are going on an extreme sports or adventure holiday, make sure that your insurance policy covers you – most basic policies do not.

[Related: Avoid surprises with your travel insuranceDelayed flights – will your travel insurance pay out?]

Some of the features that you should be looking out for:

  • Area of cover: Wherever you are travelling to, make sure you take a policy that covers all the countries you are going to, even if some are countries you will only be transiting through.
  • Additional cover: Check the details under the ‘additional cover’ section for extreme weather, acts of God, terrorism, etc.
  • Lost luggage: There could be a lot of valuables in your luggage. If you are going on a golf holiday… even more of a reason to ensure your expensive clubs are covered! Many insurance policies will allow you to detail what valuables you will be carrying. Check to see if smartphones, laptops or tablets are covered – some policies may not cover them or may cap the amount you can claim quite severely.
  • Other discounts: You might be eligible for a discount if you also have home contents insurance or car insurance with the same provider.

Travel insurance is a small investment which will bring you much peace of mind when overseas, and which will lessen the costs if something should go wrong.