Complete Guide to the Schengen Visa Travel Insurance: Providers and Options available in India

A Schengen visa unlocks a world of possibilities, granting you access to multiple European countries. But before you embark on your journey, there's a crucial step: securing the right travel medical insurance.

This isn't just about peace of mind – it's a mandatory requirement for Schengen Visa applications for citizens of many countries. Having the correct insurance ensures your application has the best chance of success and protects you from unexpected financial burdens during your travels. In this comprehensive guide, we'll navigate the world of Schengen Visa insurance, outlining the key requirements, recommending top providers, and offering country-specific insights.

And because a smooth trip involves more than just insurance, we'll also introduce you to Wise, a service offering affordable money transfers to Europe and a convenient Euro travel card for residents of supported countries.

Understanding Schengen Visa Travel Insurance

Schengen travel insurance is a specialized insurance policy that provides medical coverage during your stay in the Schengen Area. This requirement ensures that travelers can access medical care without burdening the healthcare systems of member states.

Key Requirements for Schengen Visa Travel Insurance

To meet Schengen visa requirements, your travel insurance policy must meet specific criteria.

• Minimum Coverage: EUR 30,000 (or equivalent) for medical emergencies.
• Geographic Coverage: Valid across all Schengen member states
• Duration: Coverage must be valid for your entire Schengen Area stay across all Schengen countries.
• Repatriation Coverage: The policy must include coverage for repatriation in case of death.
• Emergency Medical Services: Covers urgent medical treatment and hospital stays

It's crucial to carefully review the policy details to understand the coverage, exclusions, and limitations. Without valid travel insurance that meets these requirements, your visa application may be rejected.

Best Travel Medical Insurance for Schengen Visa: For Global Applicants

Choosing the right travel medical insurance can feel overwhelming, but it's a vital step. One of the top options we've reviewed is AXA Schengen, that offers affordable plans meeting minimum visa requirements and a convenient refund in case your visa gets refused.

While more affordable providers may exist in your home country, AXA Schengen stands out for several reasons. As a Europe-based provider, they are bound by stringent EU regulations, ensuring comprehensive coverage. Furthermore, AXA is a globally recognized brand, familiar to visa agencies worldwide, adding credibility to your application.

Schengen Visa Travel Insurance providers based in India

Here's a list of reputable travel insurance companies in India offering Schengen visa compliant plans:

• Acko General Insurance: Known for its online process, medical expenses coverage, trip cancellations, and COVID-19 coverage.
• Bajaj Allianz General Insurance: Offers add-on benefits, adventure sports coverage, and emergency cash advance.
• Care Health Insurance: Provides student travel plans and comprehensive coverage.
• Go Digit General Insurance: Offers various travel options and Schengen compliant plans.
• HDFC ERGO General Insurance: Provides extensive medical coverage and 24/7 assistance.
• ICICI Lombard General Insurance: Offers Schengen-specific policies, medical emergencies, and trip cancellations coverage.
• Tata AIG General Insurance: Offers comprehensive plans and Schengen-specific policies.
• Reliance General Insurance: Offers Schengen-specific policies, medical expenses, and trip cancellations coverage.
• Royal Sundaram General Insurance: Offers comprehensive coverage and transparent claim settlements.

Tips for Purchasing Travel Insurance

Selecting the right travel insurance for your Schengen visa requires careful consideration and thorough research. While the process might seem overwhelming at first, breaking it down into manageable steps can help you make an informed decision that ensures both visa compliance and personal peace of mind.

Before Purchase

• We recommend getting insurance quotes from different providers and comparing coverage limits and policy exclusions.
• Take the time to read through the policy document, paying attention to claims process.
• If you have pre-existing medical conditions, verify whether they're covered and under what conditions.

Your personal circumstances such as the duration of your stay, the specific countries you plan to visit, and any activities you intend to participate in, should heavily influence your insurance choice.

After Purchase

• Create copies of your insurance policy, and save all relevant contact numbers in your phone.
• Familiarize yourself with the process for different types of claims.

We recommend creating a simple emergency contact sheet that includes:

1. Your insurance policy number
2. The 24/7 emergency assistance phone number
3. Contact information for your home country's embassy in the Schengen area
4. Local emergency numbers for the countries you'll visit
5. Contact details for your regular physician at home
6. Information about any existing medical conditions or allergies

Meet Wise: Manage Your Travel Finances Conveniently

With Wise, you can send international money transfers quickly and easily with transparent fees and the mid-market exchange rate — the one you usually see on Google. That can mean you save significantly compared to providers that add a markup to the exchange rate, adding a hidden cost to the currency conversion.

Send money with Wise