Insurance
Travel cancellation policies in the test – two providers are ahead
If vacation dreams arise at short notice, travel cancellation insurance can reduce the financial damage. photo
© Ole Spata/dpa/dpa-tmn
At the end of the year, many people plan their vacation for the next year – but what if something comes up after booking? Not every insurance policy provides equally good protection.
Those who book early have the largest selection and often save some money. At the same time, this means that there is still a lot of time before the vacation and a lot can happen. Illness or a job loss that results in financial losses, which is why the trip is suddenly no longer in the budget.
There is travel cancellation insurance for these and more cases. You will be responsible for any cancellation fees incurred if bookings are canceled at short notice. Otherwise you can quickly find yourself stuck with thousands of euros.
If you take out a police policy, it is best to choose a combined tariff that also includes trip interruption insurance, advises the magazine “Finanztest” (1/2025). It covers extra costs if you have to leave early for reasons.
“Finanztest” examined 60 combined tariffs before the main booking period for summer holidays. 8 received the top grade of “very good”, 27 received the second best grade of “good”, the rest were “satisfactory” – school grade 3.
Two providers with top marks
The two providers Europ Assistance and TravelSecure from Würzburger are in the lead. In the four contracts (contracts for a trip for groups or families and annual contracts for groups or families) their respective tariffs receive top marks – according to “Finanztest”, they insure many events, are understandable and are in the middle of the range in terms of price.
Cost example: A very well-rated family tariff with fellow travelers up to a maximum of 66 years old for a single trip that costs up to 3,000 euros costs 155 euros. The annual contract, which would cover several trips worth up to 3,000 euros each, is available from just 132 euros. Why is this cheaper? The annual contracts are extended if you don't cancel – many people forget this, but it's a good deal for insurers. If you decide on an annual contract, you should keep an eye on the notice periods.
As the example shows, the price of a police service depends not only on the provider but also on the following factors: age of the oldest person traveling with you, the insured travel sum and whether it is an individual or annual contract.
Check which scenarios the insurance provides benefits for
But the question is even more important: When will the police step in? This can be found in the insurance conditions. You should check carefully whether scenarios that could possibly occur are insured.
Mental illnesses, for example, can be excluded from insurance coverage and, according to “Finanztest,” chronically ill people often have a difficult time: As a rule, illnesses have to be surprising and serious for the insurance to kick in if their vacation falls through. Many, but not all, police officers provide assistance when the child traveling with them fails an important test and this is repeated during the season.
For example, bad weather or fear of pathogens being treated are not reasons for withdrawal.
Three more tips from the experts
Take out policies directly with the insurer and not through travel portals. The quality of the tariffs there is often difficult to assess. It's better to stay away from travel insurance on credit cards – they often turn out to be sketchy and full of pitfalls, warn “Finanztest”. Only choose tariffs without a deductible. The report often puts the cancellation costs at 20 percent. Especially on expensive trips, it can be really expensive if you have to cancel them – despite the police.
