What are the factors affecting the premium of travel insurance for a Schengen visa?

 

Selecting the right travel insurance plan can be challenging, especially if this is your first trip to Europe. At Schengen Visa Itinerary, we assist travellers in finding the ideal travel insurance that matches both healthcare and trip-related needs, ensuring a smooth and hassle-free journey.

Key Factors Affecting the Premium of Schengen Travel Insurance

Trip Duration

• Longer coverage periods mean higher premiums.
• Example: A 10-day trip will cost less to insure than a 90-day stay.

Coverage Amount

• The Schengen visa requires at least €30,000 in medical coverage (including repatriation).
• Choosing a higher limit (e.g., €100,000) or adding extra protections increases the premium.

Traveller’s Age

• Younger travellers usually pay less.
• Premiums rise for seniors (typically over 60–65) because of higher medical risk.

Destination Scope

• Policies valid only in Schengen countries are cheaper.
• Plans extending to non-Schengen Europe or worldwide coverage are more expensive.

Type of Policy

• Single-trip insurance → Covers one journey, lower cost.
• Annual/multi-trip insurance → Higher upfront price but cost-effective for frequent travellers.

Health Conditions

• Standard Schengen insurance often excludes pre-existing medical conditions.
• Including coverage for these raises the premium.

Optional Add-Ons

• Coverage for baggage loss, trip cancellation, flight delays, or COVID-19 protection increases costs.
• The cheapest option is basic Schengen insurance (medical emergencies and repatriation only).

Insurance Provider

• Premiums vary depending on the company, customer service quality, and claim settlement reliability.
• Some embassies also maintain lists of approved insurers, which can influence your choice.

Practical Tips

• Always check the embassy’s specific requirements before purchasing.
• Ensure your insurance covers your entire stay.
• Ask whether the provider offers a refund in case of visa refusal.

Additionally, if you are looking for an affordable travel insurance provider, our team at Schengen Visa Itinerary has created a range of tailored packages to make the process simple and stress-free. These packages are designed to meet the needs of different types of travellers and include not only Schengen-compliant travel insurance, but also other essential documents such as hotel bookings and flight itinerary reservations for visa applications.

Note: You can purchase Schengen travel insurance online within minutes. Simply compare available plans, select the coverage that best matches your visa and travel needs, make a secure payment, and receive your policy certificate instantly.