A cancelled trip, a broken leg in the mountains, or a stolen suitcase — solid travel insurance protects you from costs that quickly run into four or five figures. What each component costs, when an annual policy pays off, and what to look for when comparing policies — our Travel Insurance Calculator shows you in seconds.
The three components of travel insurance
A complete travel insurance combines three independent cover modules. You can buy them separately or as a bundle — the bundle is usually 20–30 % cheaper.
1. Trip cancellation
Covers cancellation fees if you have to cancel before departure. Premium: 4.5 – 7 % of trip cost. Standard insured reasons: severe unexpected illness, accident, death, pregnancy, job loss, damage to property by fire, water or burglary.
2. Travel-health insurance
Pays for medical treatment abroad — and especially the medically necessary repatriation back to Germany. The latter alone can cost €5,000 – 80,000 and is not covered by statutory health insurance. Premium: about €1.20/day in Europe, €1.70/day worldwide, €2.15/day incl. USA/Canada.
3. Luggage cover
Covers theft, loss by airline and damage. Premium: about €0.55/day in the basic tariff. Premium tariffs cover more (sports gear, valuables, theft from car) and cost 30–90 % more.
Destination — the main cost driver
The travel region is the biggest lever for the travel-health premium:
- Europe: factor 1.0 — treatment via EHIC plus private top-up
- Worldwide excl. USA/Canada: factor 1.4 — higher treatment and transport costs
- Worldwide incl. USA/Canada: factor 1.8 — extreme treatment costs in the USA (one night in hospital quickly costs €5,000)
Tariff: Basic, Comfort or Premium?
- Basic: standard cancellation reasons, normal luggage limits, often 20 % deductible
- Comfort (+30 %): more cancellation reasons (e.g. trip dislike after divorce), higher luggage limit, less deductible
- Premium (+90 %): cancel for any reason, full deductible waiver, top limits
Age — the second big factor
Travel-health premiums rise significantly from age 65:
- Up to 64 years: factor 1.0
- 65 – 74 years: factor 1.7
- 75+ years: factor 2.5
Some insurers exclude seniors aged 75 or 80+ entirely. Specialist insurers like HanseMerkur or ERV offer dedicated senior tariffs.
Family vs. single
Family tariffs (2 adults + children under 18) typically cost 1.7× the single premium — about 15 % cheaper than two single policies plus free children. Requirement: shared primary residence.
Example: 14 days Spain, €1,500, age 35, Basic
- Cancellation: €1,500 × 4.5 % × 1.0 = €67.50
- Travel health: €1.20 × 14 × 1.0 × 1.0 = €16.80
- Luggage: €0.55 × 14 × 1.0 = €7.70
- Total premium: about €92
Example: 14 days USA, €3,500, age 70, Comfort
- Cancellation: €3,500 × 5.5 % × 1.8 = €346.50
- Travel health: €1.20 × 14 × 1.8 × 1.7 = €51.41
- Luggage: €0.55 × 14 × 1.4 = €10.78
- Total premium: about €409
When does an annual policy pay off?
An annual policy covers an unlimited number of trips up to 56 (sometimes 90) days each. Worth it from 3 trips/year:
- Annual travel-health single: about €10 – 25/year
- Annual travel-health family: about €25 – 50/year
- Annual full-package single (cancellation + health + luggage): €40 – 90/year
- Annual full-package family: €70 – 140/year
Common exclusions
- Pre-existing conditions without medical confirmation of fitness to travel
- Chronic conditions without a stable phase of ≥ 6 months
- War, terror, pandemic (Corona protection now included again in many tariffs)
- Risky sports without an add-on (skiing usually included, scuba diving over 30 m often not)
- Self-inflicted harm, intent, alcohol
What to look for when comparing
- Deductible waiver — saves €25 – 100 quickly on cancellation
- Repatriation cost limit — unlimited is ideal, at least €30,000
- Pre-existing condition clause — some tariffs cover stable pre-existing conditions after 6 months
- Cancellation reasons — cancel-for-any-reason only in Premium tariffs
- Pandemic clause — is Covid illness an insured reason?
- Trip interruption — refund for early termination due to illness/accident
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- Building Insurance Calculator — Wert 1914 and natural-hazard cover
FAQ
Do I need travel insurance despite my credit-card cover?
Usually yes. Credit-card insurance often only covers trips paid with the card, has low limits, and unfavorable deductibles. In an emergency you should always have your own travel-health policy.
What does the policy pay for trip interruption?
The pro-rata trip cost from the day of interruption plus extra return travel costs — typically up to 100 % of the trip price.
When do I have to take out travel insurance?
Trip cancellation: at the latest 30 days before departure, otherwise there is a 10-day waiting period. Travel-health insurance can be taken out up to the day of departure.
What happens if I get Covid before the trip?
With pandemic-clause tariffs cancellation fees are reimbursed — usually subject to a PCR test. Without a pandemic clause Covid counts as the general "pandemic" exclusion and is not reimbursed.
Who needs luggage insurance?
Worth it especially with valuable luggage (cameras, laptops, jewelry). Household contents insurance often only covers €1,000 – 3,000 outside the home and only for theft, not for airline loss.