Travel insurance is a product that provides you with financial protection, as well as the all-important peace of mind, in case of accidents, unforeseen medical costs, flight or accommodation cancellations, and the loss or theft of your belongings (e.g. suitcases, handbags, or electronic devices) while you’re travelling. In addition, specialised travel insurance can cover you for travel outlays, doctor visits and acceptable pre-existing medical conditions.
Whether you’re travelling domestically or overseas, it’s best to take out travel insurance as soon as you book your trip, as you would then be covered for any deposits you pay or final payments you make. If your flight is cancelled, or you fall ill before your holiday commences, you will have protection under your policy. Compare travel insurance.