Travel insurance covers us for many of the things that can go wrong while we are traveling, from missed flights to medical repatriation. It can save us from relaticely small expenses to much larger ones.

The fact that many insurance providers cover for emergency medical expenses of $500,000 at the low end to a fairly standard $2 million proves how serious it can be. Yes, requiring emergency medical attention in a foreign country can send you instantly bankrupt if you are not properly insured. It is not uncommon for expenses to run into hundreds of thousands of dollars.

1. Read the fine print and understand what your insurance covers, buying it is not enough you still need to know what your responsibilities are. You must take due care and attention, pay attention to those words in your policy. Most refusals to pay from insurance companies are because people have not been clear about their responsibility of due care.

2. You don’t need a top of the line policy to get good cover. Most budget insurance providers adequetely cover the most common types of claims. Some even do a better job than premium providers.

3. If you are taking expensive items with you like cameras and laptops make sure they are noted or added as optional extras on your policy. If you have to make a claim do it as soon as possible as most insurance providers take depreciation into consideration, you may want to find out if you can get these items covered for an agreed value.

4. Frequent travellers should consider an annual insurance plan, obviously plans for extended periods can come with some benefits. Another option is free insurance provided by some credit cards, however it pays to read the fine print with these as the cover is very limited and specific.

5. Always be completely honest with you insurer. Make sure you reveal any pre existing medical conditions. Claims can be rejected if you are found to have withheld information about your medical history or if you are dishonest about the circumstances of your claim.

Travel insurance is often seen as an additional expense that can be easily avoided, not taking out insurance though could be a huge mistake. The likeliness that you will need to claim on travel insurance is probably more than you it will ever be on your home or car insurance. Travel insurance offers excellent value in this way.

Dan Haneveer is an avid traveler who knows first hand the importance of being insured. Find a world nomads travel insurance reviews and get a world nomads promo code

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