The costs of travel insurance vary greatly. There is travel insurance for a few euros a month, but there are also policies that quickly cost up to €25 a month. Of course, the travel insurer's business model plays a role, but it is mainly a result of how the travel insurance is put together. Below are the factors that influence the costs of travel insurance. This page describes the situation in the Netherlands.
Type of travel insurance
There is both short-term and annual (ongoing) travel insurance. Short-term travel insurance is taken out for one specific trip, while annual travel insurance applies to all trips. Once someone travels for roughly three to four weeks a year, annual travel insurance becomes more attractive.
Area of cover
Travel insurance often offers two options, namely cover for European trips and worldwide cover. With short-term travel insurance, you naturally choose the applicable cover, but with annual travel insurance you have to weigh things up. It is often not worth choosing worldwide cover if you only travel outside Europe once every five years.
Types of cover
Travel insurance always covers extraordinary costs. These are costs incurred to repatriate the insured person early, provide assistance and so on. This also includes, for example, the costs of losing a passport or rescue operations after an accident. In addition, travel insurance can have countless other types of cover. The more the travel insurance covers, the higher the costs:
| Cover | Explanation | Example situation |
|---|---|---|
| Luggage | Cover for damage due to stolen, lost or damaged luggage. | On arrival, the laptop turns out to have been stolen from the luggage. The travel insurer pays the current value of the laptop. |
| Medical costs | Cover for medical costs incurred abroad. | After an accident, the insured person ends up in an expensive private hospital in Austria. The travel insurer pays the costs that the health insurer does not cover. |
| Car breakdown assistance | Cover for car breakdown assistance on the way, there and during the return journey. | After a breakdown, the car has to be towed away. The insurer pays the towing costs and the costs of bringing the car back to the Netherlands. |
| Replacement transport | More extensive cover in the event of a breakdown or problems with the driver. | Same situation as above. The insurer now also pays for the hire of a replacement car. |
| Winter sports and special sports | Extended care cover for special sports, often with a number of extras. | The skis are stolen. The insurer pays for the stolen skis. |
| Accidents | Compensation in the event of death or permanent disability after an accident. | The insured person falls from a cliff and is permanently disabled. The insurer awards compensation of €50,000. |
| Legal assistance | Help when the insured person unintentionally comes into contact with the justice system abroad. | The insured person is summoned to court after a serious traffic offence and needs legal assistance. The travel insurer pays the legal costs. |
| Cancellation | Cover for losses due to cancellation of the trip. Often limited to a number of specific cases, but there are also all-risk versions. | Because of an unforeseen medical procedure, the trip cannot go ahead. The insurer refunds 75% of the full price of the trip. |
Travel insurance conditions
Not only can the types of cover differ, but also the conditions that come with them. Comparing these is often like trying to catch an eel by the tail, because insurers simply all have their own conditions. With one insurer, for example, theft of cash is not insured, while with another insurer it is, but only up to a maximum amount.
Such maximum amounts can also apply in other situations. For example, some insurers spend a maximum of €12,500 on rescue and search costs. With some insurers these amounts are much higher, but that of course also affects the costs of the travel insurance.
The conditions often differ greatly on points such as these:
- Up to what age are children automatically included?
- How long are you allowed to travel without interruption?
- Is there a maximum payout for search and rescue operations?
- Is there a maximum payout for medicines?
- Is there a maximum payout for travel costs in the event of delays due to natural disasters?
- What is the maximum payout per person under the luggage cover?
- In which cases may the trip be cancelled?
- How does the insurer calculate the current value of my belongings?
Excess
An excess is common in some cases, especially when luggage is also insured. An excess means that the insurer will not pay part of the damage. The higher the excess, the lower the costs of the travel insurance.
Read also: Switching to a different travel insurance policy, Saving money on travel insurance and Injuries at sports camps: liability and insurance.
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Frequently asked questions about the costs of travel insurance
Does annual travel insurance also cover trips in the Netherlands?
Travel insurance covers trips in the Netherlands when there is an overnight stay. You must be able to show proof of this. A day trip to the zoo, for example, is not covered, not even with more expensive travel insurance.
Is cancellation cover advisable?
For small and cheap trips, it is only worth it when there is a risk, for example because a close family member has had health problems for some time. Otherwise, cancellation cover is mainly worth it for expensive, long-distance trips that can easily cost a month's salary. It then becomes more difficult to bear the loss yourself.
Do I really need all types of cover?
Cover for medical costs abroad is a must when this is not already covered by your health insurance. In addition, extra cover for winter or underwater sports is advisable if you actually do these sports, and replacement transport cover is worth it on a car holiday. A number of other types of cover, such as accident cover, cash cover, legal assistance cover and transport and accommodation cover, are often less worthwhile.
Is cheap travel insurance a good idea?
Cheap travel insurance often turns out to be very expensive in the end, because it does not really cover much. For example, there are travel insurance policies where the cover already stops before the return journey, while a lot can still happen on the way back. There are also travel insurance policies that only cover certain parts, for example the plane ticket but not the hotel costs in the event of a cancellation. Relatively speaking, such travel insurance is anything but cheap.
How much does travel insurance cost on average?
The cost of travel insurance depends on various factors. Annual travel insurance with European cover costs on average €4 for a single person, €7 for a couple and €9 for a couple with children. With worldwide cover, the averages are around €5.50, €9.50 and €12. Cancellation insurance costs on average around 5% of the total cost of the trip. Of course, these averages say nothing about the exact cover of the travel insurance.