What is the cost of travel insurance in Switzerland?
Travel insurance is an essential element for travelers who want to travel with peace of mind. Why take out travel insurance? It protects against unforeseen events such as medical expenses abroad, trip cancellation, lost luggage, and many other things. But how much does travel insurance really cost in Switzerland? And how are the prices determined? This article gives you a detailed overview of the costs associated with travel insurance and the factors that influence premiums.
How is the price of travel insurance calculated?
Different factors come into play when calculating the premium for travel insurance. It is also necessary to differentiate between types of insurance: annual or temporary.
In the case of annual insurance, the cost is often fixed and may vary depending on the geographical extent of the coverage (Europe/World) and the number of people to be insured (Individual, couple, family).
Since annual insurance covers all trips of the insured over 365 days, the price will be determined based on market practices and claims history.
For the calculation of temporary insurance prices, it will be more dynamic and may potentially take into account several factors (depending on the insurer), among the following:
- Destination: The cost of travel insurance varies depending on the destination. Medical expenses are higher in some countries, so insurers adjust their rates accordingly. For example, insurance for the United States or Canada will generally be more expensive than for Europe.
- Duration of stay: The length of your trip directly impacts the cost of insurance. The longer the stay, the higher the premium.
Traveler's age: Age can be a factor in determining the price. Seniors, due to increased health risks, often see their premiums increase. Young travelers may benefit from more advantageous rates. - Extent of coverage: The guarantees included in your insurance contract also influence the price. Basic coverage will cost less than extended coverage.
- Number of people insured: If you travel with family or in a group, the total cost of insurance will be higher. However, some insurers offer group discounts, which can help reduce costs.
- Total cost of the trip to be insured: This price includes accommodation, transportation, and any reserved and paid activities. It helps to evaluate the amount that will be covered in case of cancellation, for example. Therefore, always provide this criterion as accurately as possible when asked during the subscription process.
How much does travel insurance cost in Switzerland?
Travel insurance prices can vary greatly depending on the factors mentioned above. Here are some examples of average rates for different types of travel:
- Short trip in Europe (less than 3 months): For an individual traveler, prices can start from 40 CHF for basic coverage. More comprehensive coverage can cost around 70 CHF (for a trip that costs less than 1'000 CHF)
- Long-term travel (more than 3 months): For a world tour or an extended stay, prices can range from 100 CHF to 800 CHF per year, depending on the chosen guarantees.
- Travel to the United States or Canada: Due to high medical expenses, insurance for these destinations can cost between 100 CHF and 150 CHF for a two-week stay.
- Annual coverage: For an individual traveler, the average premium will be around 120-150 CHF for basic coverage and around 160-200 CHF for comprehensive coverage. It is financially advantageous if you plan to travel at least 3 times a year.
Which insurance to choose for my trip?
Choice of insurance coverage
The choice of insurance coverage depends on what you are looking for.
- For a trip abroad, to an exotic and distant country, it is preferable to choose the most comprehensive coverage possible, especially in terms of assistance and medical expenses. Indeed, if something happens to you on site, being able to be assisted immediately and knowing that you are financially covered for medical care will be of great help.
- For shorter trips, perhaps in Europe, you can sometimes settle for more basic cancellation and assistance insurance.
- If you know you will be traveling with valuable personal belongings, choose insurance that includes baggage coverage.
- If you are traveling to the United States or any other country where medical expenses are known to be high, you should, without hesitation, opt for insurance that includes medical expense coverage with fairly high reimbursement amounts. At Europ Assistance Switzerland, we cover your medical expenses up to 250,000 CHF, which is quite adequate for such trips.
For more information, feel free to consult our article: 10 key elements to check before choosing your travel insurance.
Temporary or annual insurance?
The choice can be quite easy: ask yourself if you plan to travel more than 3 times in the next 365 days and if you are traveling with family. If the answer is yes, take out annual travel insurance! It is financially more advantageous and allows you to travel whenever you want without any questions. The number of trips covered is often unlimited. However, be careful with the automatic renewal of your insurance if you do not want it to continue for an additional year. At Europ Assistance Switzerland, we let our insured choose whether or not to extend their insurance: there is no automatic renewal.
If you travel infrequently and for short durations (less than 15 days), temporary insurance will be more relevant for you: you then insure each trip separately. Be careful, we strongly advise you to take out insurance as soon as possible when you have your travel dates because cancellation coverage is then valid from your subscription.
Pay attention to reimbursement amounts
In any case, note that the list of coverages is important, but the reimbursement amounts are also crucial. Depending on the insurers, they can vary greatly, and sometimes the maximum reimbursed amount will only cover a small part of your expenses in case of unforeseen events.
Some insurers offer very affordable premiums, but if you look in detail, there are often low reimbursement amounts and especially deductibles, particularly on cancellation coverage. Read the General Terms and Conditions of Insurance carefully to be sure of the amounts.
Europ Assistance Switzerland travel insurance
We offer annual or temporary travel insurance to provide guarantees for all types of travelers. We have no maximum age limit and cover you worldwide. We offer packages, meaning we always include the two coverages we consider essential: cancellation and assistance, to which other guarantees are added for our COMFORT options, such as baggage coverage, medical expense coverage, and the Dogs & Cats extension...
Discover all our options and calculate your premium for free.
