If you’re headed to Europe on a business, pleasure or family trip, chances are you will need Schengen visa travel insurance. It’s required by 26 European countries that make up the Schengen embassies, so here’s a bit about determining your travel insurance for Schengen visa cost.

The Schengen Visa Fee

Travelers are expected to pay a non-refundable mandatory visa fee for every visa application. This is the first step of your travel insurance for Schengen visa cost. The cost varies and is based on the type of visa needed and age of the applicant. The Schengen visa fee can be paid to the Schengen embassy and some may allow you to pay with a credit card.

The fee for an airport transit visa or a short stay (less than 90 days) Schengen visa is 60.00 Euro. A long stay visa, meaning your trip will last longer than 90 days, is 99 Euros. The visa fee for children between the ages of 6 and 12 years old is 35 euros. There is no visa fee for children under 6 years old, students, postgraduates and accompanying teachers and nonprofit representatives.

Travel Insurance for Schengen Visa Cost Variables

The travel insurance for Schengen visa cost depends on many variables, such as number of travelers, age of travelers and the length of the stay. Prices range from short stays of roughly 13 – 30 euros a person to 180-day stays of nearly 300 – 1,25 euros a person.

Yearly or Multiple Trip Travel Insurance for Schengen Visa Cost

Those who are planning multiple trips or a lengthy trip up to 90 consecutive days to a Schengen country should expect the travel insurance for Schengen visa cost to be higher. An annual premium for multiple trip travel insurance ranges from nearly 300 euros to 500 euros. Such a plan allows flexibility in traveling to the Schengen area as many times as you need, as long as the trip does not last longer than 90 days.

Different Prices for Travelers

Depending on what sort of traveler you are will determine your travel insurance for Schengen visa cost. Visitors, guests, business travelers and tourists who are under 64 years old and staying anywhere between 8 – 183 days could pay around 13 euros a day. Business travelers, other tourists, employees, exchange students or those traveling for 8 – 365 days could pay around 1,25 euros.

Who Needs to Purchase Travel Insurance for Schengen Visa

Nigerians planning to travel to any of the Schengen countries are required to have travel insurance that is supplied by an accredited by a Schengen insurance company. The policy must include coverage of expenses for illnesses, accidents, medical needs and possible repatriation up to $30,000 Euros. The policy must be valid for the entire length of your trip. The policy must be presented if the visa has been approved.

If you are planning a trip to any of the 26 countries included in the Schengen area, then you will be required to have travel insurance for your Schengen visa. Contact an accredited Schengen insurance agency to determine your travel insurance for Schengen visa cost.