The Austrian Insurance Brokers Association (ÖVM) warns against relying solely on insurance coverage from credit cards or automobile clubs when on vacation. ÖVM President Alexander Gimborn emphasizes that in many cases, the coverage is inadequate or even nonexistent. He advises carefully reviewing the insurance terms and conditions and opting for a solid, individual travel insurance policy to ensure you're protected in the event of an emergency.
According to the ÖVM, comprehensive travel insurance should cover various aspects. These include trip cancellation and trip interruption insurance, which reimburses previously paid costs in the event of illness, accident, or misfortune. Travel health insurance is essential, as social security coverage abroad is often limited and high costs can arise, especially in private hospitals such as in Italy. Luggage insurance for loss, theft, or damage, as well as liability insurance that protects against claims for accidental damage, are also important components. Accident and death insurance offers additional financial security for medical emergencies or for surviving dependents.
Annual travel insurance is particularly advantageous, as its costs are often comparable to those of a single-trip policy. However, an annual policy offers year-round coverage for all trips, from weekend getaways to beach holidays to business trips. Day trips of more than 50 kilometers from home can also be included. This investment often pays for itself after just the second trip and offers planning security and relaxed travel without any additional expense. Given the variety of options available, Gimborn recommends seeking individual advice from an independent insurance broker.
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