Cheapest Travel Insurance for Schengen Visa (2023)

Cheapest Travel Insurance for Schengen Visa – This article is a review of the ten Cheapest Insurance available to those applying for a Schengen Visa. Breaking it down step by step, so that we can have the utmost clarity.

We will try to break the information down as much as possible to leave nothing out. The information should be useful to students just researching for whatever reason, and also for the serious traveller who is looking for information to help him make his traveling arrangements. Let us start by breaking down travel Insurance.

Cheapest Travel Insurance for Schengen Visa

  • 1. Assurance Voyage

They charge from € 0.49 per day. That is $14  for a month and 0 days. The offer sounds too good to be true so we advise that you visit their website in order to be sure about terms and conditions, and also to know if the Policy is available for your country.

  • 2. Allianz

Allianz Insurance claims to offer Schengen Travel Insurance for as low as $23 dollars a month. We strongly recommend that you visit their website to understand any terms and conditions that may be involved. Also, you should make sure that the Insurance policy is open for nationals of your country.

  • 3. AXA

They Charge about $1.11  for a day, that is about $33 for the period of one month. Please visit their website or your travel agent for more information about what is covered, and what is not, and also to know if this insurance cover is available for citizens of your country.

  • 4. IMGlobal

They Charge a minimum of $89 for a month and 0 days. Please contact your Travel agent to know whether their services are available in your country.

  • 5. World Nomads

They Charge about $100 for the period of one month. Please visit their website or your travel agent for more information.

  • 6. SafetyWing

They Charge about $100 for the period of one month. Please visit their website or your travel agent for more information.

  • 7. Liaison Travel Choice

They charge a minimum of $98.25 for 1 Month 0 Day.

This insurance is not available in:

Maryland USA, Washington USA, New York USA, South Dakota,  Islamic Republic of Iran, Syrian Arab Republic, U.S. Virgin Islands, Gambia, Ghana, Nigeria, Colorado USA, Sierra Leone.

  • 8. Patriot International

They offer insurance for a minimum of $97.13 for 1 Month 0 Day.

This Insurance is Not Available in Maryland, USA.

  • 9. Atlas International

They charge about $100 for 1 Month 0 Day.

This insurance is Not Available in

Maryland USA, New York USA, Washington USA, Canada & Australia.

  • 10. Safe Travels International

They charge a minimum of $128.70 for 1 Month 0 Day.

On this site, we have defined and explained the concept of Insurance on several occasions. If you are not sure about how it works you may quickly visit one of our earlier posts. In this post, we pick up the baton from ‘Travel Insurance.’

Cheapest Travel Insurance for Schengen Visa

What is Travel Insurance?

Travel Insurance is a kind of agreement in which an Insurance Company agrees to cover a traveller when he embarks on a journey. In this context, cover means that the Insurer agrees to pay for whatever loss may occur to the Traveller. This may be Loss of Life- in which case the insurer will pay a specified amount of money to those who the Traveller lists as his beneficiaries. It may be a Travel Healthcare plan- in which case the Insurer agrees to cover whatever medical bills the Traveller may incur. Another common of Travel Insurance is the Travel Baggage Insurance- in which case the Insurance Company undertakes to insure the baggage, that means they agree to pay the cost of the baggage if they should get lost, misplaced, or stolen.

Generally speaking, airlines see Travel Insurance as a necessary thing, but travelers see it as a bottleneck a nuisance that they are saddled with, and forced to bear. For this reason, some travelers look for most affordable travel Insurance that they can possibly get. We will get to that later in this post.

Travel insurance is not just another expensive requirement in order to be eligible for a Schengen visa. Either you are heading to Europe, Southeast Asia, Africa, or traveling withing your continent, or just going to any other part of the world, you should have some kind of travel insurance. When you are on the road or in the air, things are more unpredictable. The people around you may act in a different way, or you may be exposed to environments, substances, or even microbes that are harmful to you, whether you knew it or not. Having travel insurance will help you be more relaxed, knowing that if anything happens, you are covered, and will be cared for. It is also a mature and responsible thing to do. When you have travel insurance and something happens, even your family will be more relaxed, knowing that their loved one will be alright.

For now, let us proceed with understanding what Schengen means.

Schengen Agreement

Schengen Agreement is a coming together of a couple of European countries who saw the need to make travel across borderlines easy and seamless. According to the agreement, Citizens of Schengen countries are virtually citizens of all Schengen countries as they do not need to pass through the hassles of applying for Visas at the embassies of the country (or countries) that they wish to travel to. As long as the country he intends to visit is part of the Schengen charter, he is good to go.

List of Schengen countries is provided below:

  • Austria
  • Belgium
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland

So how does this affect those of us that are not from Schengen Countries? Well, it makes life just as easy for us. A Schengen visa is a Visa for 23 Countries. It gives you access to all the countries within the Schengen Agreement. So long as you have Travel Insurance!

As a matter of fact, one major requirement to have your Schengen visa approved is to purchase a Schengen visa travel insurance. Without this, your application almost certainly will not be accepted. While it is not difficult to get one, there are a lot of things you should consider before jumping into any travel insurance. Unless you are very rich and money is no problem, you should be interested in the information below.

Schengen Travel Insurance Requirements

The European Union has made a very clear and also strict set of guidelines for the acceptable travel insurance that an applicant for a Schengen Visa should have. Keep in mind that this is a major part of getting your Schengen Visa approved. Below is information about the coverage that your insurance should offer:

  1. Coverage of costs as a result of any medical repatriation, or emergency and hospital treatment.
  2. Life Insurance: Compensation to nominated family members in the case of death of Policy Holder (Traveller)
  3.  The EU insists that coverage must be valid in the entire territory of the Schengen area. This does not usually mean that your insurer must have a presence in each of the Schengen states, but that your Insurer must acknowledge that it will pay whether or not you claim to be going to one country, or to all Schengen countries.
  4. The Travel Insurance must not expire until after the period stipulated in your Visa application.   It must cover the entire period you intend to stay in the Schengen area.

REMEMBER: For those applicants who want to apply for the Schengen Visa multiple times, you only need to prove that you have travel insurance on the first trip. When you apply on the second occasion,  you will only be required to show travel insurance.


We are not in any way affiliated to any of the Insurance Companies listed below. All the information provided in this article is for information only. We are not investment advisors or Travel guides. Please consult the Embassy of the country you wish to travel to.  Embassies from all over the world set their own different rules. Going forward with this information, and whatever outcome it may bring will be only your own responsibility.

How much is a fair amount to pay for travel insurance for Schengen visa?

The cost for the Schengen visa travel insurance varies greatly, and depends mainly on the age of the traveler coupled with the duration of coverage required. That means that the older the traveler the higher the cost is likely to be. The longer the duration of travel insurance required, the greater will be the cost charged for the travel insurance for the Schengen visa.

What you Should Do

You first approach an Insurance provider and request a policy. You should go ahead and make the payment before approaching the Embassy to apply for a Schengen Visa. The Schengen Visa is one of the requirements that you need to fufill in order to get your Visa Application approved. Some Insurers will refund your money if the Visa application is denied. But some pay charge a deductible fee.

That’s all about the Cheapest Travel Insurance for Schengen Visa.


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