Even during a global financial crisis, there are still plenty of people who continue to travel on business or holiday.  But how many globetrotters avoid purchasing travel insurance because it seems too confusing or even unnecessary?

The fact is, travel insurance should be seriously considered by anyone planning a trip.  There are so many small things that can go wrong when travelling, and those small things can quickly add up, giving you a headache and costing you money.  The right insurance, though, can potentially save you a lot of grief and also help you hold on to your hard-earned cash. It's even possible nowadays to purchase "travel dispute" insurance, which will provide a lawyer and pay legal fees in the event of a travel supplier (tour operator, travel agent, hotelier, airline, etc) breaching contract.

Because the thought of acquiring insurance can be daunting for some, here's a brief look at the main categories of travel insurance:

1. Single and Multi-Trip

This one does pretty much what it says on the label.  If you don't do a lot of travelling over the course of a year, a single trip policy should be just the ticket.  If you're a regular jetsetter, though, a multi-trip policy should save you money by covering any trips you take over the course of a year (or another time period specified by your policy).

2. Adventure

This is one for the daredevils.  Do you like to go on holiday for excitement rather than relaxation? Adventure travel insurance covers things like bungee jumping, safaris, rock climbing, and any number of other activities a bit more exciting that lounging by the pool.

3. Winter Sports

That's right, there are policies specifically covering activities like skiing and snowboarding.  Depending on your insurer, a winter sports travel insurance policy will give you benefits specifically tailored to a skiing holiday. You'll be covered for things like equipment damage or theft, lost lift passes, or piste closures due to lack of snow or bad weather.

4.  Business

This type of policy can be a real boon for the business traveller.  It will usually cover business-related equipment like laptops, mobile phones and important documents.  Some policies include airport lounge access, and some will even cover costs in case a colleague needs to replace you on a business trip.

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These are just a few of the options that most insurers will be able to offer you. Also, many companies can tailor a policy to suit your specific travel needs.  No matter what option you choose, any policy worth its salt offers compensation for medical emergencies or cancellations resulting from circumstances beyond your control.

So next time you're planning a trip, don't overlook purchasing travel insurance as part of your preparations.  A little investment in advance can turn a potential disaster into a minor inconvenience.