Every year, thousands of Spaniards travel abroad without considering that a medical emergency can translate into an unexpected expense of hundreds or thousands of euros. In fact, the Spanish Social Security system itself contemplates the reimbursement of medical expenses paid during temporary stays in the EU, the EEA, Switzerland or the United Kingdom — a clear sign that leaving the country without travel insurance can leave your wallet exposed.
A real case that illustrates this: a Spanish woman went viral on TikTok in 2023 showing the bill she was charged at a medical centre in the United States: €380 just to take her son to the emergency room! That is why taking out travel insurance is not an optional extra, but a way to protect your health and your budget when you are far from home.
In this updated guide we explain, step by step, what a travel policy actually covers, how much you should pay, which coverages are essential depending on your destination, and the most common mistakes to avoid before signing.
What is travel insurance and why do you need it?
A travel insurance policy is a contract whereby an insurer undertakes to compensate you or cover certain expenses if you experience an unexpected event during your trip: an illness, an accident, lost luggage or the forced cancellation of your journey.
Unlike the Spanish public health system, which only covers basic care within national territory or, partially, in European Economic Area countries through the European Health Insurance Card, a travel policy extends protection worldwide and adds guarantees that the EHIC does not offer, such as repatriation, cancellation or civil liability.
There are several reasons why this protection has become practically essential:
- Rising medical costs in destinations such as the USA, Canada or Switzerland, where a single night of hospitalisation can cost more than €5,000 (AssistCard).
- Increasing number of cancellations and flight incidents: following record delays in recent years, airlines have tightened their refund policies.
- Legal entry requirements: some countries require international insurance with minimum coverages in order to grant a visa.
Essential coverages your policy must include
Not all policies are the same. Before taking out a policy, make sure your travel assistance insurance includes, at a minimum, the following guarantees.
Medical assistance and hospitalisation
This is the core coverage. It covers consultations, emergency care, hospitalisation, surgical procedures and prescribed medications during the trip. For European destinations, experts recommend a minimum sum insured of €30,000 — the limit required by the Schengen area for tourist visas — while for the USA, Canada or Asia the recommended sum starts at €500,000 and, in some cases, it is advisable to take out unlimited coverage.
Cancellation and reimbursement
Cancellation insurance refunds the cost of non-refundable tickets and bookings if you have to cancel your trip for justified reasons: serious illness, the death of a family member, redundancy, court summonses, etc. The most comprehensive policies cover between 40 and 50 different causes. It is optional, but highly worthwhile when the trip is expensive or booked well in advance.
Luggage and personal belongings
Covers the theft, loss or damage of checked luggage, as well as delays exceeding a specified number of hours. The average compensation ranges between €1,000 and €3,000, with sub-limits per item. Check whether your policy includes protection for electronic devices, as many policies exclude this unless an additional option is taken out.
Civil liability
If you accidentally cause material or personal damage to another person during your trip, this guarantee covers the compensation you may be required to pay. It is especially useful for travellers who practise sports or drive hired vehicles.
Types of travel insurance according to your destination
Your destination determines the type of traveller protection you need. This table summarises the main options:
| Type of insurance | Recommended destination | Recommended minimum medical sum insured | Indicative price (7 days) |
| Basic Europe insurance | EU, United Kingdom, Schengen | €30,000 | €15-30 |
| Standard international insurance | Latin America, Africa, Oceania | €200,000 | €35-60 |
| Premium / unlimited insurance | USA, Canada, Japan, Switzerland | €500,000 or unlimited | €60-120 |
| Annual multi-trip insurance | Frequent travellers | Variable | €150-400/year |
Europe and the Schengen area
Although the EHIC covers basic public healthcare in EU countries, it does not include repatriation, private hospitalisation or unforeseen expenses. A travel insurance policy for Europe fills those gaps for less than the price of a dinner.
Travel to the United States, Canada and Asia
Here the absolute priority is the medical sum insured. An appendectomy in New York can be billed at over €40,000. Take out policies with overseas medical assistance with no excess and 24-hour assistance in Spanish.
Exotic and adventure destinations
For backpackers, digital nomads or travellers who engage in high-risk activities (scuba diving, high-altitude trekking, hired motorbikes), look for policies that include adventure sports and verify that repatriation covers remote areas. Before departing, also check the travel recommendations by country from the Ministry of Foreign Affairs and the WHO health guidelines on vaccination.
How much does travel insurance cost in 2026?
The price depends on four factors: destination, duration, age of the insured and coverages taken out. As a general reference, the following ranges apply in the Spanish market in 2026:
- Domestic travel: between €2 and €4 per day.
- Travel within Europe: between €3 and €6 per day.
- Intercontinental travel: between €6 and €12 per day.
- Annual multi-trip policies (for those who travel several times a year): from €150 to €400.
A useful rule of thumb: a comprehensive travel policy typically represents between 2% and 5% of the total cost of the trip. For example, for a trip costing €1,500, you should budget between €30 and €75 for insurance. Industry figures compiled by the trade association UNESPA show a stable price trend compared to the previous year.
Common mistakes when taking out travel insurance
After analysing thousands of claims, the most common mistakes made by travellers are:
- Not reading the fine print: especially the exclusions, excesses and sub-limits per guarantee.
- Taking out sums insured that are too low for destinations with expensive healthcare.
- Assuming the EHIC is enough in Europe: it does not cover private healthcare or repatriation.
- Buying the insurance on the day of travel: you lose cancellation cover, which only applies if taken out in advance.
- Not declaring pre-existing conditions: these can invalidate the entire claim.
- Confusing credit card insurance with a comprehensive policy: the coverages are far more limited and usually require the trip to have been paid for with that card.
How to choose the best travel insurance step by step
Follow this process to make the right choice when taking out your travel insurance:
- Define your travel profile: destination, duration, number of travellers, planned activities.
- Calculate the medical sum insured you need based on healthcare costs in the destination country.
- Decide whether you need cancellation cover (recommended if the trip costs more than €800–€1,000).
- Compare at least three insurers, reviewing coverages, not just the price.
- Verify 24/7 assistance in Spanish and the possibility of direct payment at hospitals.
- Confirm that the insurer is supervised by the Dirección General de Seguros y Fondos de Pensiones, the public body that regulates the sector in Spain.
- Keep all documentation and assistance phone numbers accessible throughout your trip.
Frequently asked questions about travel insurance
Is it compulsory to take out insurance when travelling abroad?
Not always, but some countries require it. The Schengen area requires visa applicants to hold insurance with a minimum coverage of €30,000 for medical expenses and repatriation. Cuba, Algeria and other destinations impose this requirement on all tourists.
What happens if my flight is delayed or my luggage is lost?
The airline is primarily responsible under the Montreal Convention, but its compensation is usually limited. Your international insurance supplements the proven actual value of the damages up to the sum insured, managing the claims on your behalf.
When is the best time to take out insurance?
Ideally, you should do so on the same day you book your trip, especially if you want to activate cancellation cover. The sooner you take it out, the more unforeseen events will be covered.
Is there insurance for digital nomads or Erasmus students?
Yes. Annual multi-trip policies and long-stay insurance are designed for profiles that spend months abroad, such as backpackers, temporary expatriates, Erasmus students or international remote workers.
Travel with guaranteed peace of mind
Taking out good travel insurance is not an expense, it is an investment in peace of mind. For less than the price of a dinner, you can avoid thousands of euros in unexpected medical costs, calmly handle an unforeseen cancellation or recover the value of lost luggage. The key is to choose coverages suited to your destination, read the terms and conditions carefully and rely on independent professionals for advice.
Would you like to compare the best policies with no obligation? At Ambler we provide personalised, free advice so you can travel with the best protection at the best price. Request your quote here and prepare your next trip with complete peace of mind.