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Whether you’re heading off on an annual trip to Europe or you visit multiple times a year, you may want to consider buying travel insurance to provide a financial buffer against the unexpected costs of holiday cancellation, lost bags, illness, etc.
We’ve researched dozens of policies from eighteen popular UK travel insurance companies to gather data on the average cost of travel insurance to Europe. Use this information as a guide to understanding expected costs when considering which policy and features to buy. If you have any pre-existing conditions you can find more information in our article on the average cost of travel insurance for medical conditions.
Average Cost of Travel Insurance to Europe
According to our research, the average cost of travel insurance with Europe cover for a 30 year old is £44.01 for an annual, multi-trip policy and £18.19 for a single-trip policy, as you can see in the following chart.
Coverage to Europe only is generally cheaper than travel insurance to the rest of the world. The average cost of annual multi-trip travel insurance for the world, including USA/Canada, is £74; single-trip policies for the same geographic coverage run on average £42. Travel insurance to Europe is cheaper than the rest of the world, in part, due to lower expected medical expenses resulting from the European Health Insurance Card (EHIC) programme—a valid EHIC gives you access to state-provided healthcare during a temporary stay in another European Economic Area (EEA) country or Switzerland.
EHIC Card: Do I Need One?
Many insurance providers require you to have a valid EHIC for Europe travel cover. An EHIC covers medically-necessary treatment until your planned return home, and may cover pre-existing conditions and routine maternity care. You may not want to rely solely on an EHIC though—it won't cover any private medical healthcare costs, such as mountain rescue in ski resorts or being flown back to the UK, nor is it valid on cruises. Private travel insurance and an EHIC provide different types of cover, therefore it is important to have both arranged before you travel.
Should You Buy Single-Trip or Multi-Trip Insurance to Europe?
It depends on where you go and how often. Anyone who travels only to Europe and goes three times a year will probably save money by purchasing an annual, multi-trip policy instead of a single-trip policy, because the average cost of annual, multi-trip travel insurance for Europe costs 2.4X the cost of a similar single-trip policy. Those travelling only one/two times a year, and only to Europe, may save by purchasing one/two single-trip policies. As always, be sure to check quotes for both single and multi-trip policies before deciding.
If your travels take you beyond Europe then, generally speaking, a multi-trip policy is more cost efficient for two or more trips a year. The exception to this is one trip to Europe and one trip to America in a year, as discussed in our article on travel insurance to the USA.
Average Cost of Travel Insurance Extras to Europe
Travel insurance extras like golf, cruises and winter sports will add to the cost of your premium, as you can see in the following table.
Average Cost of Travel Insurance Extras (Europe Cover)
|Extra||Europe Multi-Trip||Europe Single-Trip|
Interestingly, adding winter sports coverage to a single-trip policy costs more than to a multi-trip policy. This is true across all geographies, not just coverage in Europe. Similarly, wedding coverage is a larger add-on to a single-trip policy, as you can see in the following table.
If you're able, decide on your holidays for the upcoming year. That way, you may save money by buying enough, but not too much, travel insurance coverage. If you’re only going to Europe once or twice in the year, single-trip policies may work out cheaper for you. Regardless of whether you buy single or multi-trip cover, you may also want to be on the lookout for SAFI or ESF cover if you want protection in case your airline and/or accommodation goes into administration.
Our research reflects data gathered on policies from the following list of insurance providers: Aviva, Flexicover, LV=, Churchill, HSBC, Axa, Admiral, Direct Line, John Lewis, Insure and Go, Allianz, Multitrip, Barclays, Columbus Direct, First Direct, Holiday Safe and the Post Office. Policies were quoted for a 30-year-old, single man with no pre-existing health conditions.