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 necessarything, 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 within 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.
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.
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 fulfill 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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