The Schengen region is a beautiful and dreamy place to visit, where you get to explore a few of the most beautiful and travel-worthy places. Within this region, you can travel across a number of countries to visit the iconic monuments, the Alps, the Mediterranean sea and witness the best of European art and scenic beauty. But what about the Travel Insurance for Schengen Visa 2021??
Irrespective of your purpose to travel to the Schengen region, which could be a business trip, study trip, or vacation; it is advisable to apply for travel insurance for a Schengen visa well in advance. It helps you stay financially covered against contingencies that might arise during the trip. Besides, travel insurance for a Schengen visa is one of the legally mandatory travel documents required for visiting the Schengen region.
Requirements for Travel Insurance for Schengen Visa 2021
Schengen visa travel insurance must meet the following requirements:
- It should offer medical coverage of at least 30000 euros
- The insurance should cover all the member countries of the Schengen region
- It should cover most of the expenses related to the policyholder’s repatriation for urgent medical attention or treatment or in case of his/her untimely demise.
After knowing about the requirements for travel insurance for a Schengen visa, it is inevitable to be aware of its significant benefits before buying the insurance. Find them below.
Benefits of Travel Insurance for Schengen Visa
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1. Trip Cancellation
While planning an international trip, people usually make a few of their bookings in advance so that they can enjoy an organized and smooth trip. But, there is always a scope for uncertainty, which might arise around your trip date, due to which you might even have to cancel the trip.
Nonetheless, if you have travel insurance for a Schengen visa, you need not worry about the non-refundable portion of your booking amount, as the insurance provider usually compensates for the same.
2. Medical Assistance
Travel insurance also offers medical assistance for treatment, medical supplies, and emergency transportation to the hospital if you catch hold of any disease or meet with an accident. Otherwise, you might have to incur a high treatment cost during a medical emergency.
3. Baggage Loss/Delay Cover
Your baggage might get delayed or lost while traveling due to misdirection by the common carrier or some other reason. Under travel insurance for Schengen visa –
- If your baggage is delayed, the insurance provider will reimburse you for the additional expenses that you had to incur due to the delay
- If your baggage is lost, the provider will compensate according to the things present in your baggage. It could be an important document, valuable items, etc.
4. Loss of Passport
During your trip, you might lose your passport, which might disrupt your trip. But, under travel insurance, the insurer will either help you issue a new passport or a duplicate copy of the same.
5. Bounced Hotels or Airline Bookings
If your hotel or airline bookings are bounced, you might incur a considerable loss. But, if you are covered under travel insurance, the insurer will reimburse the losses incurred by the policyholder.
6. Automatic Policy Extension
In case of trip delay due to any genuine reason, the travel insurance policy is automatically extended for a number of days, which varies across different insurance providers. This will save you against certain losses.
Lastly, it is important to choose a credible insurance provider, like TATA AIG, as they have a good claim settlement ratio and favorable terms and conditions. Besides, they offer the maximum benefits possible, depending on your financial capacity and requirements. While buying travel insurance for a Schengen visa from such an insurer, you can stay assured of speedy claim settlement and 24*7 assistance.