A travel-insurance policy to cover theft, loss and medical problems is a very good idea. It may also cover you for cancellation or delays to your travel arrangements. Paying for your ticket with a credit card can often provide limited travel accident insurance and you may be able to reclaim the payment if the operator doesn't deliver. Ask your credit-card company what it will cover.
Worldwide travel insurance is available at www.lonelyplanet.com/travel-insurance. You can buy, extend and claim online anytime – even if you're already on the road.