German searchers: Travel cancellation insurance

February 18, 2024

by a searcher from WHU-Otto Beisheim School of Management in Hamburg, Germany

Hi German searches,

I have a somewhat odd / specific question: Has anyone of you come across a travel cancellation insurance policy that would be suitable for searchers? We are planning a longer vacation in Africa this summer, but of course I would not be able to go if I happen to be in the final stages of buying a business or if I happen to have just acquired a business and am within the first weeks or months of operating and learning my way through the business. Typical policies include job changes and job loss for employees, but I would assume it to be a difficult discussion to argue that it's the same situation...

I am also reaching out to my insurance company and my insurance broker and will let you know any insights. but curious to hear whether anyone of you has ever researched that topic?

Thanks
Christian

Reply by a searcher
from WHU in Hamburg, Germany

Thanks all! As some suggested, the typical cancellation reasons covered (besides illness) are loss of job and new job (within the first 6 months). Potentially they may also accept the new GM role after closure but I guess that’s a matter of just trying it out.
Insurance broker did not know of an insurance policy that would cover self-employed / business owners in similar situations.
A mix of cancellable tickets (where possible), last minute booking, just trying with the existing insurance policy (included in many credit cards) in case it actually happens and otherwise just not to be upset about the money lost as it means one would have found the company to buy is the was to go :)

Reply by a searcher
from Ludwig in München, Deutschland

Never researched about that. I would expect that there is no such insurance, since the definition of the insurance event is problematic (What are "final stages of acquiring a business") and the market for searcher insurance is too small. Additionally premiums would be too high - ask yourself how much would you charge me, if i ask you for the insurance for my travel? Maybe last minute booking is an option.

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