Low-Cost Schengen Visa Insurance Plans for Budget Travelers
For budget travelers venturing into Schengen countries, having the right insurance isn’t just smart—it’s essential. For many budget-conscious adventurers, finding affordable Schengen visa insurance plan is crucial to protect their travels. The good news is that affordable travel insurance for your Schengen visa is more accessible than ever, allowing you to embark on your journey without compromising quality.
What to Look for in a Low-Cost Insurance Plan?
When considering a low-cost plan, it’s essential to examine not just the price but also the value it offers. Before we explore the top insurers, prioritize both affordability and quality to ensure peace of mind during your travels. it’s important to understand the requirement that every health insurance should have, regardless of cost:
- Minimum coverage: €30,000 for medical expenses, including emergency, repatriation.
- Coverage area: Valid for all Schengen countries.
- Duration: cover the entire length of stay in the Schengen area.
Ensure that the insurer you choose is well-versed in Schengen and EU travel requirements. We have a list of top ten budget-friendly options that should strike a balance between affordability and compliance with EU regulation.
Top 10 Cheapest Travel Insurance Plans for Schengen Visa
1. Europ Assistance – Schengen
Europ Assistance offers budget-friendly travel insurance options; their plans can start at around €3 per day making it one of the most affordable options available.
Benefits
- Minimum Medical coverage of €30,000
- No deductibility, meaning you won’t face unexpected out-of-pocket costs.
- Instant certificate provided upon purchase, so travelers can quickly obtain necessary documentation to present to embassies.
Best For:
Short term travelers and Trusted by embassies and consulates across Europe
2. Mutuaide – Basic Lite
Why It’s a Great Option: Basic Lite is a compelling choice for those seeking essential coverage without the burden of high premiums.
Benefits
- Accepted by all European embassies and consulates
- Instant insurance certificate for your visa application
- 24/7 emergency medical assistance
- Daily Rate €1.50 per day
- Medical Coverage: Up to €30,000,
- Deductible: €30, ensuring minimal out-of-pocket expenses.
Who Should Choose It:
- Travelers visiting Europe for less than 90 days
- Tourists looking for low-cost, embassy-approved insurance
- Students, business visitors, and family travelers needing basic coverage without extras.
3. Europ Assistance – Schengen Plus
Why It’s Economical: Affordable daily rate starting from €5 per day, making it an economical choice for travelers venturing into Schengen countries.
Benefits
- €60,000 medical coverage – double the Schengen visa requirement
- Zero deductible – full payout without hidden costs
- Coverage in all 27 Schengen countries
- Digital insurance certificate sent immediately by email
- Backed by Generali Group, one of Europe’s largest insurers
Best For
- Tourists and short-term visitors looking for strong medical protection
- People who prefer a trusted European insurer with global assistance
4. AXA – Schengen Low-Cost
Why it’s great:
AXA is a trusted EU-based insurer with a 100% embassy acceptance rate. The Low Cost plan is affordable, reliable, and meets all Schengen visa insurance requirements.
Key Benefits:
- Premium: From €20/week (≈ €1.40/day)
- Coverage: €30,000 medical expenses
- Emergency repatriation: Included
- Deductible: €0
- Certificate: Instant PDF, ready for visa application
- Accepted: By all Schengen embassies
Best For: AXA Schengen Low Cost plan is ideal for backpackers and short-term travelers who need reliable, embassy-approved insurance at a low price.
5. MondialCare
Why It’s Great:
Best for budget travelers who want affordable and reliable insurance.
Key Benefits:
- High Coverage: Up to €35,000 medical coverage
- Affordable: Starts at just €17 for 7 days
- Visa-Compliant: Accepted by all Schengen embassies
- Instant Insurance Certificate for embassy submission
- Full Refund if Visa Denied
- Deductible: €30, ensuring minimal out-of-pocket expenses.
Best For:
- Travelers who want more than minimum coverage
- Those needing embassy-trusted insurance on a budget
- Tourists, students, and family visitors looking for value + protection
6. Mutuaide – Basic
Why It’s a Great plan
Mutuaide Basic stands out as a reliable, low-cost travel insurance option that fulfills all Schengen visa requirements. With no hidden charges or deductibles, it’s designed for travelers who need simple yet complete protection at an affordable price.
Key Benefits
- Medical coverage up to €30,000, including hospitalization and repatriation
- 24/7 travel emergency support while abroad
- Protection against COVID-19, epidemics, and quarantine-related issues
- Visa denied? Refunds available (check provider terms)
- Starting price from just €21 for a 7-day trip
Who should choose it:
- Budget travelers who want visa-compliant coverage without overspending
- Hassle-free worldwide coverage
- First-time visitors or students planning short stays
7. Allianz Global Assistance – Serenity
Why It’s a Great Option
The Serenity plan by Allianz Global Assistance offers premium coverage with trusted global backing.
Key Benefits
- Medical coverage up to €30,000 or more
- Premium start at €7/day
- Access to 24/7 multilingual emergency support services
- Trusted by European embassies due to Allianz’s reputation
Best Suited For
- Travelers who want trusted insurance with strong embassy acceptance
- Anyone who values global brand assurance, especially for longer or multi-country trips
- Business travelers who want zero-risk protection
8. Coverwise
Why It’s Great option
Coverwise is known for offering competitively priced Schengen-compliant insurance plans, especially for travelers from the UK and Europe. Their policies are underwritten by AXA, giving added reliability and quick embassy acceptance. It’s a smart option for travelers seeking low-cost protection without compromising quality.
Key Benefits
- Up to £20,000,000(UK only)coverage for medical emergencies and repatriation
- Premium start at £5.45/day
- No hidden fees or deductibles in most standard plans
- Option to upgrade for additional benefits like luggage cover and trip cancellation
Best Suited For
- Travelers from the UK applying for a Schengen visa
- Couples or small groups booking together and needing group-friendly pricing
This insurance in only applicable for UK residents
9. Atlas International – WorldTrips
Why It’s Great option
Atlas International by WorldTrips offers flexible, international medical coverage, making it ideal for budget consious travelers who need more than basic Schengen visa insurance.
Key Benefits
- Medical Coverage upto €50,000
- Premium start at USD 9/day
- No Deductibility
Who Choose This Plan
- Best for Travelers prioritizing low cost
- Travelers wanting high protection limits beyond the rules
10. Provisit Visum by DR-WALTER
Why It’s a Great Option
It’s not only Schengen visa-compliant, but also offers liability and accident coverage, which many budget insurance plans miss. Backed by DR-WALTER, a trusted German insurer, it’s a reliable and cost-effective choice for long-term travelers.
Key Benefits
- Unlimited medical coverage
- Premium start €1.10/day
- No deductible – no out-of-pocket cost
- Valid in EU countries
- Trusted German provider (DR-WALTER)
Who Should Choose it:
Provisit Visum is ideal for travelers visiting Europe long-term, including tourists, students, and families. It’s especially useful for extended stay and multicountry trip.
Side-by-Side Comparison: Prices, Coverage & Benefits
| Provider | Daily Cost | Coverage (€) | Deductible | Key Benefits | Best For |
| Europ Assistance | €3/day (10% off with code EAB) | €30,000 | No | Instant certificate download, no out-of-pocket costs | Short-term travelers on a budget |
| Mutuaide – Basic Lite | €1.50/day | €30,000 | €30 | Cost-effective, includes legal assistance and travel interruptions | Maximum value at lowest daily cost |
| Europ Assistance Plus | €5/day (10% off with code EAB) | €60,000 | No | Double the standard coverage, fully EU compliant | Travelers needing higher coverage |
| MondialCare | €17/week | €35,000 | €50 | Repatriation, medical evacuation, hospital stays | Budget-conscious travelers |
| AXA Low-Cost | €20/week | €30,000 | No | No deductible, widely accepted for visa applications | Trusted and reliable short-term plan |
| Mutuaide – Basic | €21/week | €30,000 | No | Includes Covid-19 coverage, refund for visa refusals | Hassle-free worldwide coverage |
| Allianz – Serenity | €7/day | €30,000 | No | Global support, excellent customer service | Travelers seeking trusted providers |
| Coverwise | £5.45/day | £20,000,000 (UK only) | No | High medical coverage, tailored for UK residents | UK residents applying for Schengen |
| Atlas International | USD 9/day (~€8) | €50,000 | No | Zero deductible, robust medical coverage | Travelers prioritizing value |
| Provisit Visum | €1.10/day | Unlimited coverage of medical costs | No | Valid across the EU, ideal for long stays | Extended stays and multi-country trips |
Key Insights
- All plans meet Schengen visa medical insurance requirement (€30,000+ coverage)
- Prices vary slightly by age, duration, and country of origin
Best Budget Picks:
- Mutuaide – lowest weekly cost
- MondialCare Budget – great for students and backpackers
- Coverwise – AXA-backed trust at a lower rate
- Provisit Visum (€1.10/day) is excellent for long-term stays.
Highest Medical Coverage:
- Provisit Visum provides unlimited coverage of medical costs.
- Coverwise provides £20,000,000 coverage but is available only to UK residents.
- Europ Assistance Plus offers €60,000, double the legal requirement.
Conclusion
With reliable and low-cost insurance options now available, Schengen visa approval becomes smoother. Select wisely, stay covered, and travel smart.
FAQ
When should I buy the insurance?
Buy your insurance before your visa appointment, and make sure to print the certificate for submission with your visa documents.
Can I extend my insurance if I stay longer?
Yes, some plans (like Atlas International or Provisit Visum) allow extensions if your stay is prolonged due to medical or valid travel reasons.
Which is the best low-cost Schengen insurance for Pakistani applicants?
Plans like Mutuaide Basic, Provisit Visum, and Coverwise are embassy-accepted, affordable, and provide PDF certificates instantly — great for applicants from Pakistan.
Is online insurance accepted by Schengen embassies?
Yes. As long as the policy meets EU requirements and you have a downloadable certificate (PDF), online insurance is fully accepted.
Do all insurance plans include trip cancellation or lost baggage?
No. Basic plans usually don’t. If you want these, look for add-ons or upgraded packages (e.g. Atlas or Allianz extended versions.
Is the cheapest plan always the best?
Not necessarily. Make sure it covers what you personally need — embassy approval, COVID-19 protection, and refund policy matter more than just price.
Can I buy Schengen insurance from Pakistan?
Yes! All plans mentioned on your blog can be purchased online from Pakistan, and you get the visa certificate by email.
