Cheapest Travel Insurance for Schengen Visa: Your Guide to Finding Affordable Coverage

If you are planning to travel to the Schengen Area, you will need to obtain a Schengen visa. One of the requirements for obtaining this visa is to have travel insurance that meets certain criteria, including coverage for medical expenses, emergency medical evacuation, and repatriation of remains.

Here are some tips on how to find the cheapest travel insurance for Schengen visa:

  1. Compare prices from different insurance providers: Look for insurance companies that offer Schengen visa travel insurance. Compare the prices and the coverage offered by different insurance providers to find the best deal.
  2. Look for basic coverage: If you are on a tight budget, you can opt for a basic coverage plan that meets the minimum requirements for the Schengen visa. These plans are usually cheaper than the comprehensive coverage plans.
  3. Opt for a longer duration: If you are planning a longer trip, it might be more cost-effective to opt for a policy that covers you for the entire duration of your trip rather than buying separate policies for each leg of the journey.
  4. Check the deductible: A higher deductible means a lower premium. Consider choosing a higher deductible if you are comfortable with paying a larger amount out of pocket in case of a claim.
  5. Check for discounts: Some insurance providers offer discounts for group policies or for buying policies online. Check for any available discounts to save some money.
  6. Read the fine print: Make sure you understand the terms and conditions of the policy, including any exclusions or limitations. Cheaper policies may have more restrictions on coverage, so make sure you know what you are getting.
  7. Consider the reputation of the insurance provider: Cheapest doesn’t always mean the best. Consider the reputation and customer reviews of the insurance provider before making a decision.

In summary, finding the cheapest travel insurance for Schengen visa requires some research and comparison. Look for basic coverage, opt for a longer duration, check the deductible, look for discounts, read the fine print, and consider the reputation of the insurance provider.

Do Nigerian Citizens Need Schengen Travel Insurance to Visit Europe?

Yes, they do. Nigerian citizens planning a trip to Europe have to apply for a Schengen visa beforehand. Throughout the application process, Nigerians must collect several documents to prove they are eligible to get a visa. Among the most important documents is a travel health insurance certificate, valid in the whole territory of the Schengen Area and for the total period of stay in Europe.

Schengen Visa Insurance Requirements for Nigerian Citizens/Residents

Medical insurance for a Schengen visa from Nigeria must meet the following criteria:

  • A minimum coverage of at least €30,000.00 (equivalent to ₦ 15,204,821.72 as of May 2023).
  • Coverage in all Schengen member states.
  • Coverage for all expenses related to urgent medical treatment, evacuation for medical purposes, or repatriation from Europe to Nigeria.

Understanding Schengen Visa Requirements

The Schengen Visa is a type of visa that allows travelers to visit multiple European countries that are part of the Schengen area. If you’re planning to travel to one or more of these countries, you’ll need to obtain a Schengen Visa before you go.

Here are the key requirements for obtaining a Schengen Visa:

  1. Valid passport: Your passport must be valid for at least three months beyond your intended stay in the Schengen area.
  2. Application form: You’ll need to fill out an application form for the Schengen Visa. You can usually do this online or by picking up a form at the embassy or consulate of the country you’re visiting.
  3. Photo: You’ll need to provide a recent passport-style photo.
  4. Travel itinerary: You’ll need to provide a detailed travel itinerary that includes information on where you’ll be staying, how long you’ll be there, and how you’ll be traveling between countries.
  5. Travel insurance: You’ll need to show proof of travel insurance that covers medical expenses and repatriation in case of illness or injury.
  6. Financial proof: You’ll need to show that you have enough money to support yourself during your stay in the Schengen area.
  7. Proof of accommodation: You’ll need to show proof of accommodation, such as hotel reservations or a letter of invitation from a friend or family member.
  8. Purpose of visit: You’ll need to provide information about the purpose of your visit, whether it’s for tourism, business, or other reasons.
  9. Visa fee: You’ll need to pay a fee for the Schengen Visa, which varies depending on the country you’re visiting and the type of visa you need.

It’s important to note that the Schengen Visa does not guarantee entry into the Schengen area. You may still be subject to border checks and immigration controls when you arrive in each country. It’s also important to apply for the Schengen Visa well in advance of your planned trip, as processing times can vary depending on the embassy or consulate you’re dealing with.

Who Can Apply for a Schengen Visa in Nigeria?

The following categories can submit a visa application at a Schengen embassy/consulate/VAC in Nigeria:

  • Nigerian passport holders.
  • Other nationals who need a visa visit to Europe and live in Nigeria under a permanent or temporary residence permit.

Coverage Amount

The minimum coverage amount required for a Schengen visa is €30,000. This coverage should be valid for the entire duration of your stay in the Schengen area.

Coverage Type

Your travel insurance policy should cover medical emergencies, including repatriation in the event of death, as well as accidents and illnesses.

Coverage Area

Your travel insurance policy should be valid in all Schengen countries, as well as cover the entire duration of your stay in the Schengen area.

Consider Duration and Frequency of Travel

If you are a frequent traveler or planning a long trip, consider buying an annual travel insurance policy. This may be more cost-effective than buying a separate policy for each trip.

Check with Your Credit Card Provider

Some credit card providers offer travel insurance as a part of their benefits. Check if your credit card provides such coverage and if it meets the Schengen visa requirements.

What Are the Cheapest Schengen Travel Insurance Plans?

Here is a list of some of the cheapest insurance plans distributed by some of the best international companies that provide Schengen insurance  for a 7 day trip:

Plan NameCoveragePrize (for one person)Price (for two people)Deductible
World Trips – Atlas TravelCoverage for eligible illness or injury up to €50,000, COVID-19 eligible expenses.USD 9 (approx. EUR 8)USD 16 (approx. EUR 15)Zero
Mondialcare – Schengen Insurance PremiumRepatriation or medical evacuation, assistance in case of death, and hospital stay up to €35,000.EUR 17 (approx. USD 18)EUR 34 (approx. USD 36)Starts at €50
Europe Assistance – Schengen InsuranceBasic coverage meeting Schengen requirements, assistance in case of illness, injury, or death up to €30,000.EUR 18 (approx. USD 19)EUR 37 (approx. USD 39)Zero
Allianz – Schengen Insurance Single TripEmergency medical expenses up to €50,000, personal accident, lost or stolen travel documents.EUR 20 (approx. USD 21)EUR 40 (approx. USD 43)Zero
AXA – Schengen Low CostBasic coverage up to €30,000, including medical expenses, repatriation, and 24-hour assistance.EUR 22 (approx. USD 22)EUR 44 (approx. USD 47)Zero

Please note that the plans listed above are only a selection of basic plans from a limited number of insurance providers. It’s important to remember that numerous policies and insurance providers are available for Schengen insurance, offering a range of coverage options and prices. The table provided serves as a starting point to give you an idea of the different price ranges you may encounter. We encourage you to explore and compare various policies and providers to find the one that best suits your specific needs and preferences.


Travel insurance is a mandatory requirement for a Schengen visa, but it doesn’t have to be expensive. By following the tips mentioned above, you can find the cheapest travel insurance for Schengen visa that meets your needs. Remember to compare multiple providers, opt for basic coverage, and avoid unnecessary add-ons. Also, consider the duration and frequency of your travel and check with your credit card provider for travel insurance benefits.


  1. Is travel insurance mandatory for a Schengen visa? Yes, travel insurance is a mandatory requirement for a Schengen visa.
  2. What is the minimum coverage required for a Schengen visa? The minimum coverage required for a Schengen visa is €30,000.
  3. Can I find cheap travel insurance for Schengen visa? Yes, you can find cheap travel insurance for Schengen visa by comparing multiple providers and opting for basic coverage.
  4. What is the best way to compare travel insurance providers? You can use online comparison tools to compare multiple travel insurance providers and their offerings.
  1. What if my travel plans change after purchasing travel insurance for Schengen visa? If your travel plans change, you should inform your insurance provider as soon as possible. Depending on your policy, you may be able to modify or cancel your coverage.
  2. Can I buy travel insurance for Schengen visa after arriving in the Schengen area? No, you cannot buy travel insurance for Schengen visa after arriving in the Schengen area. You must have travel insurance that meets the Schengen visa requirements before arriving in the Schengen area.
  3. How do I know if my travel insurance policy meets the Schengen visa requirements? Check your travel insurance policy documents carefully to ensure that it meets the minimum coverage amount, coverage type, and coverage area required for a Schengen visa.

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