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Travel insurance is always great, but you need to make sure that it offers enough coverage for your bike as a single item in the event that it is lost or stolen during transit. You should also investigate the policies of your airline or transport operator with regards to lost or damaged items (such as your bike).
Public Liability Insurance? Tell me more...
This will vary between countries. The consequences, both financial and physical, to you if you are involved in an accident with a pedestrian, another cyclist or motorist can be very traumatic. Even if you are not at fault, the court costs, medical and legal expenses can be extremely high. Public liability insurance will cover you if you are at fault, and it also covers you if the other party is at fault or does not have any insurance.