Travellers' cheques have the obvious advantage over cash that if they are lost or stolen, the issuing company will refund them on production of the purchase receipt. For that reason, keep the receipt safe and separate from the cheques themselves, along with a record of the serial numbers and a note of those ones you have already cashed. If your cheques do get lost or stolen, the issuing company will expect you to report the loss to their local office immediately. You pay one to two percent commission to buy the cheques, and usually get a lower rate of exchange for them, but it's worth it for the extra peace of mind.
When buying travellers' cheques, get a sensible mix of denominations, and stick to the established names - Thomas Cook, American Express, Visa or one of the major American banks - not only because these will be more recognized, but also because there will be better customer service should they be lost or stolen.
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