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What are the Parameters of Schengen Travel Insurance?

Author: Team Finpage
Parameters of Schengen Travel Insurance
Thursday, January 11, 2024

Planning a vacation abroad? Europe is one of the top-rated travel destinations in the world. A single day in Europe is synonymous with sight-seeing and savouring the dynamic nightlife, delicious cuisine, vibrant artworks, scenic natural beauty and unique cultural facets. No wonder, it is often on the ultimate travel bucket list of travellers from all across the world. In fact, the EU has been pegged as having the highest number of tourists in the world for the year 2022!

Why is Schengen Visa Important?

The good news is that a single Schengen visa will give you access to multiple countries in the EU. However, make sure you also safeguard your finances during the trip with Schengen travel insurance. For this, you will first need to know the rules and coverage offered by international travel insurance, such as single-trip and multi-trip coverage. 

Here’s a look at what you should know to make a smart choice of travel insurance for your Schengen visa.

Schengen Travel Insurance Rules

Most insurance companies offer a variety of travel policies that cater to different budgets, needs and trip itineraries. 

The basic Schengen and international travel insurance rules are as follows:

  • You must be an Indian passport holder.

  • The sum insured under Schengen travel insurance must be at least €30,000 (equivalent to ₹27,16,800).

  • The insurance must provide coverage in all the member states of the Schengen area that you intend to visit. You can also check for the ones covering the European Union and the UK.

  • The insurance company must be willing to cover accident-related hospitalisation, medical repatriation costs and medical emergencies.

  • Assistance must be allowed for the insured party, such as a friend or relative, in case you are travelling alone.

  • Home coverage against burglary while you are away.

  • Duration of the Schengen travel insurance is flexible. You can choose either 90 or 180 consecutive days.

  • Help with return of luggage (bags only) to the home country.

  • Payment for communication costs, such as sending an urgent message.

  • Essentials like spectacles, prostheses and contact lenses must be compensated for.

In case of a tragic event such as death, the travel insurance should take care of repatriating the remains or burial. Early return of companions is also covered under the rules of some international travel insurance policies. While making your decision, check for insurance policies that permit automatic policy extension up to a week before your trip begins.

What Does a Schengen Travel Insurance Cover?

International travel insurance coverage usually includes:

  • Cashless hospitalisation across network hospitals. 

  • Medical evacuation costs back to India.

  • Life-threatening conditions, such as extreme impairment of vital organs like the heart and brain.

  • Critical care in a respiratory care unit, emergency ward or ICU.

Value-added services are also available on both single-trip and multi-trip plans. However, sub-limits or extra limitations are not applicable in Schengen countries. 

Schengen Visa: How To Check Eligibility

Besides learning the rules and coverage of Schengen travel insurance, check the eligibility and process to apply for a policy. It is easy to do all your research online and the application process is also paperless. Check the official website and apply well ahead of your travel date to avoid last-minute stress.

All Schengen countries have their own set of rules regarding international travel insurance. You will need to fulfil specific criteria for travel insurance to get your visa approved. A good start to making the right decision is to read the terms and conditions, guidelines, eligibility and documentation carefully before purchasing a policy.

Team Finpage

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