Carmen
Travel editor at Reisedrop · 2026-09-15
Hardly any box is ticked as hastily as the travel insurance one at checkout — and hardly any is ticked wrongly as often. Some people pay twice for cover they already have through their credit card or health insurance. Others fly to the USA without cancellation cover and risk five-figure bills. This guide brings some Swiss order to the subject: what is already covered, what do you really need, and what should you watch out for when comparing policies?
The two insurance types that really matter
The umbrella term «travel insurance» actually covers two completely different products. First, cancellation cost insurance: this covers cancellation fees if you have to cancel the trip before departure — for example because of illness, accident or job loss. Second, travel cover with assistance: this applies while you are away — in medical emergencies, for repatriation to Switzerland, trip interruption or missed connections. Repatriation is by far the most important point, because an air ambulance flight from Thailand can quickly cost CHF 80'000 to 150'000 — and that is precisely what health insurance does not cover.
What your health insurance really pays abroad
Compulsory basic insurance (KVG) covers emergency treatment abroad — but only up to twice the tariff that the same treatment would cost in Switzerland. In Europe that is usually enough, but in countries such as the USA, Canada, Japan or Australia, hospital costs are often five to ten times higher. An appendectomy in New York can cost 50'000 dollars — and your insurer will pay only a fraction of that. Anyone with supplementary hospital insurance is often better covered: it is always worth calling your own insurer before booking.
Credit card: often already insured — but read the small print
Many Gold, Platinum and Premium cards — including some neobank offers — include cancellation cover and, in some cases, assistance cover too. The catch lies in the conditions: in most cases, the protection only applies if the trip was paid for with that exact card. Then there are coverage limits — often CHF 10'000–20'000 per year — excesses and exclusions for certain cancellation reasons. For a city break in Lisbon, that is often enough — for a long-haul family trip or a cruise with a high booking value, probably not. Check your card’s insurance booklet before taking out anything new.
Annual insurance or a single-trip policy?
The rule of thumb is simple: from around two trips a year, annual insurance is almost always better value. Single-trip policies can quickly cost CHF 30–80 per booking depending on the trip value, while an annual policy for individuals starts at around CHF 100–140, and for families from about CHF 150–250 — and then covers all trips during the year, often including weekend breaks. Families benefit twice over: children are included in most annual policies.
The main providers in Switzerland at a glance
The Swiss market is manageable. The classic option is the TCS ETI protection letter model, with strong assistance and breakdown cover — popular with families and frequent travellers. Allianz Travel, formerly Elvia, is the country’s largest travel insurer, with a broad product range from single trips to annual policies. ERV (Europäische Reiseversicherung, now part of Helvetia) is the specialist many travel agencies offer as standard. Then there are AXA, Zurich and Generali, which often include travel cover as an add-on to existing insurance packages — and if you are already a customer there, you can sometimes get attractive bundle discounts. At first glance, the benefits look similar; the differences lie in the limits, excesses and exclusions.
What you really need to look at when comparing policies
Five points decide whether a policy will actually deliver what the brochure promises when it matters. First: the cancellation reasons covered — illness is always included, but what about illness of grandparents, job loss or cancelled exams? Second: the excess — a 20% excess on a CHF 8'000 cruise is CHF 1'600. Third: the pandemic clause — since Covid, many policies cover quarantine and travel warnings differently. Fourth: sports and activities — diving, ski touring off-piste or motorbike hire are often excluded. Fifth: the maximum cover for repatriation and medical costs — here, it should say «unlimited» or at least CHF 1 million.
Special case: cruises and long-haul trips
Cruises combine three special factors: high booking values — and therefore high cancellation sums — strict cruise line cancellation scales, often 90% shortly before departure, and expensive emergencies at sea, where evacuation by helicopter may be required. Make sure the policy explicitly covers «trip interruption» and «missed embarkation», for example if your feeder flight is delayed. For long-haul trips to the USA, the rule is clear: make sure you have unlimited or very high medical cost cover — this is exactly where cheap policies fail when things go wrong.
When you do NOT need additional insurance
Honesty matters here: not every trip needs a new policy. If you book flexible cancellable fares — many hotels can be cancelled free of charge up to 24–48 hours beforehand — pay with a premium credit card, and already have ETI protection or an annual policy, you are generally fully covered for a trip within Europe. Double insurance achieves nothing — in the event of a claim, only one provider will pay anyway. Take stock once: card, health insurance, existing policies. Only the gaps that remain afterwards need new cover.