From the outset let’s be clear. Travel insurance is there to dig you out of a hole when you’re on holiday, so this is something we should probably all consider. But let’s be sure what we are getting, because the benefits and the levels of those benefits do vary considerably from one insurer to another.

First you should consider how much holidaying you are going to get in the next year, as it may be far more economical to take out an annual or multi-trip policy, rather than a one-trip policy. If you are like us, at Insurancestall, you probably don’t need an annual policy, but if you are like some of our friends, well, they seem to find time to go on holiday 3 times a year.

The next issue is where you might be going. The reason for this is that travel insurance covers medical treatment if you get sick while on holiday, and some places, like the USA for example, are more expensive than others.

But there are so many little details to look for. Perhaps you want new-for-old cover in case your camera is stolen, or you need to cover cash and credit cards. You may want your policy to cover your kids on school trips, or if you are too young for kids and you want to go backpacking for six months, you will need to make sure you pick the right insurer.

One thing to watch out for is “excess per incident”. Remember, excess is what YOU pay when there’s a claim. SO if your excess is £100 that’s all you can pay, right? Well, not always. Some policies levy an excess per category of cover on your policy. So you’d have £100 to pay against your money and credit cards, £100 on your Nikon, and £100 to get you home… etc etc… definitely something to watch out for!

You may need to check what you can actually do on holiday too. If you’re planning on scuba diving or wind-surfing you’ll need to check you’re covered for these. Same with parascending and white water rafting … they even cover you for a “certain amount” or grade of these.

You might want to make sure your insurer covers your watches and sunglasses, too. Since there has been so much fraud on these items a lot of insurers won’t cover the. But expect to pay extra for all this cover. It doesn’t come as a free extra.

Another question you should ask is how long you can be away for. If you’re planning to spend the summer in Spain (all you teachers listen up!) then you’ll need to check what the maximum period of stay is on the policy. What you WILL expect though is to get cover for having to cancel your holiday if Aunt Mabel is taken ill, and to get cover for when your luggage arrives in a different continent (ok, we are all used to it, but that’s still useful). You need to know you’ll be safe if you lose your passport and tickets

Make sure you get and know the number for an emergency helpline, in case anything does go wrong, and make sure you can call it from the country you are going to.

Finally, if you want cover for golf, winter sports or ahem, “extreme” sports, well, you will just have to pay extra… in fact with travel, the most important document to read is the exclusions. It’s what you aren’t covered for that may trip you up.