Having worked in the travel industry for most of my life and enjoyed travelling to many and varied destinations, I have heard some travel medical horror stories.

One such story was of a fellow who dived into a hotel pool while he was on holiday in Asia and in a freak accident, injured his neck. His repatriation with a medical team and special spinal unit cost an astronomical amount.

My own experience was minor by comparison… I extended my holiday in the USA by a week without extending my travel insurance policy. As luck (!) would have it, I twisted my ankle playing cricket (yes, yes, cricket in the US, I know, but that’s another story) and had to fork out several hundred US dollars for medical examinations, x-rays, bandaging and crutches. The words “false economy” leap to mind. For a small additional outlay, I could have avoided the inconvenience and the expense. I have learned my lesson and now purchase travel insurance as soon as I make my travel bookings.

There are numerous travel insurance policy options depending on your requirements. If you are travelling within your own country and you already have medical coverage, you might just need to cover the cost of cancelling your holiday in case you fall ill and are unable to travel. If your household insurance policy doesn’t cover your personal items while travelling, you will want a travel insurance policy that covers loss, damage or theft of your luggage and personal effects. Add up the cost of replacing your camera, your laptop, mobile phone, and iPod, not to mention your clothes and whatever you were carrying them in. If you are travelling overseas on business or for pleasure, you will want a higher level of coverage for the higher costs that could potentially be incurred.

You can choose from basic Budget, Medical and Rescue to comprehensive annual plans for frequent or business travellers.

A comprehensive policy will generally include medical expenses, emergency dental expenses, emergency travel arrangements and accommodation expenses, medical evacuation and repatriation, some costs due to travel delay, luggage and personal effects, replacement passports and travel documents and personal liability. In these days of litigation, the importance of personal liability cover for damages or compensation arising from injury to another person or damage or loss to someone else’s property, and related legal costs, cannot be overstated. How easy would it be for someone to trip over your luggage at an airport or railway station and sue you for damages?

Major travel insurance companies also offer emergency assistance 24 hours a day, 7 days a week, that could be a great relief if disaster strikes. They can assist with paying hospital and medical bills, repatriation after an accident or illness, rescheduling of disrupted travel plans, replacement of lost tickets, passports or travel documents, arrangement of emergency transfer of funds, urgent messages to your family or travel agent, and interpreters in hospitals overseas.

It is important to compare policies on their coverage and exclusions, not just their price, to ensure you are covered for exactly your requirements. This is particularly relevant in the case of pre-existing illnesses and senior travellers.

Purchasing travel insurance online can save you money and many sites compare the policies of major insurance companies while offering substantial savings off the regular price. Travel insurance can be conveniently purchased through your travel agent, however you will be limited to the brand that they carry.

Without travel insurance, you could be setting yourself up for financial disaster on top of the pain, suffering and inconvenience of a holiday incident. It is not a question of whether you can afford to do it, but can you afford NOT to do it?