Cheapest travel insurance for Schengen visa: 7 things to know

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Travellers and globetrotters wanting to explore Europe and delve into the cultural and historical essence of European cities should look no further than planning a trip to the Schengen area. Why you ask? It’s because visiting the Schengen will save you from the hassle of applying for multiple visas that’s normally the case for trans border journeys. 

In simple words, you will require just one single visa to visit the 26 different European countries that are included in the Schengen zone. But how much will the Visa and travel insurance for the Schengen area cost? In this post, we have covered some of the cheapest travel insurance for Schengen visa and the cost of the Visa itself. 

Schengen Visa Requirements

Before starting off, let’s have a look at the list of Schengen visa requirements you’ll be needing in order to make your visa application a smooth-sailing process. First and foremost, having a valid passport is a must. Make sure that your passport is not older than 10 years. 

The next important requirement is having proof of finance. This essentially means that you need to have evidence that you are financially capable of managing your stay in the Schengen area. To complete this process, you need to have a sponsorship letter as well as your bank account statement for the last three months. 

It is also important to show any type of proof of accommodation that you’ll be making during your visit to the Schengen area. This can be the booking you made in a hotel or hostel, or a rental agreement. The last important requirement is a travel insurance policy. If you are planning a budget trip, it’s completely okay to go for one of the cheapest travel insurance for Schengen visa. 

How do I book Schengen travel visa insurance from USA or UK?

It’s a commonly-known fact that travellers from the US aren’t required to obtain a visa in order to visit the European countries in the Schengen zone. However, it is important for US travellers to get covered with a travel insurance policy that covers a minimum of €30,000 or more. Both US and UK travellers can apply for a Schengen travel visa insurance online from one of the leading travel insurance providers. 

Types of Schengen Visa

There are primarily two types of Schengen Visa, including single entry visa and double-entry visa. As it is with single-entry visas for other countries, single-entry Schengen Visa allows travellers to visit the area only once. It is also important to note that a single-entry Schengen visa is valid for a specified period of time. Single-entry Schengen Visa documents that are required include a passport, lodging booking confirmation, and proof of having enough finance. 

With a double-entry Schengen visa, it is possible to visit the region more than once. Double-entry Schengen visas usually cost more than a single entry visa. You can opt for a Schengen visa travel insurance regardless of the type of Visa you choose.  

How much Schengen Visa costs?

Schengen visa costs have remained the same for over several years. However, a recent update on the Schengen visa code has increased the visa cost to 33.3% more. The update on the Visa code was implemented in January 2020 after being approved by the European Union Council. 

Schengen Visa fee has now increased from sixty euros to eighty euros. This move has been implemented in order to help the European states under the Schengen area to get properly covered for processing visas. 

What is the best travel insurance for Schengen Visa?

Schengen travel visa insurance from Europ assistance, MondialCare, and AXA-Schengen are worth going for. One of the main reasons for this is these companies are approved by worldwide consulates and European embassies. 

What is medical insurance for Schengen Visa?

Having medical coverage is an integral part of incorporating a travel insurance policy in your Schengen Visa. The medical coverage will pay out for emergency treatments, illnesses, and accidents across all the places under the Schengen area. 

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