Most insurance covers theft, loss of luggage, and other stuff like if you need to get home in an emergency and worst case scenario you die will pay a certain amount to bring you home and stuff like that. When I was planning an overseas trip I found banksa to be good http://www.banksa.com/insurance/travel/default.asp?orc=personal also watch out for the excess which is what you pay everytime you claim you gotta give them something first before they pay. I beleive bank sa doesnt have excess. Good luck 
