Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

If you’re planning your holidays this year, make sure you have adequate travel insurance. Ignoring this advice could bankrupt you or leave you with a huge bill. What is travel insurance? Travel insurance covers things like medical expenses, trip cancellation or delays, lost or stolen baggage and personal liability while you’re travelling. The type of cover you need depends on the countries you’re visiting, the activities you’ll be doing on your travels, e.g. winter sports or summer holidays, and the length of your trip. Your age and health will also be a factor and you may need to find specialists providers. You’ll also need to state whether you want travel insurance for a single trip, multiple trips or for backpacking, as cover may vary and typical policies cover trips of up to 30 days at a time. Why do I need travel insurance? We love to travel, but accidents do happen, which can incur medical bills, delays, lost items and thefts. All of these unforeseen events can prove very costly if you’re not properly i