When traveling to the Schengen Area in Europe, it's important for travelers to be prepared for any unforeseen medical expenses due to accidents or injuries.

EU regulations mandate that all Schengen visa applicants must obtain travel insurance to ensure they have financial protection against unexpected medical costs while traveling within the Schengen zone.

Medical insurance for a Schengen visa, as per Regulation (EC) No 810/2009 of the European Parliament, must meet these criteria:

1. Provide a minimum coverage of medical costs, with a minimum of 30,000 EUR (approximately 33,000 USD as of April 2024).

2. Extend coverage to all member states of the Schengen Area.

3. Cover expenses related to repatriation for medical reasons, urgent healthcare, emergency hospital treatment, or death.

While travel health insurance is valuable for all travelers to Europe, it's mandatory only for those applying for a Schengen visa. This group must have the required coverage for their entire stay in Europe, whether for business, tourism, studying, holidays, or other purposes. However, foreign travelers enjoying visa-free travel to the Schengen zone can opt for European travel insurance if they wish, though it's not obligatory, despite being highly recommended.

An effective travel insurance policy for the Schengen area should encompass these expenses:

1. Medical emergencies (accidents or illnesses) while within the Schengen Area.

2. Emergency evacuation.

3. Repatriation of remains.

4. Return of a minor.

5. Benefits for accidental death, injury, or disablement.

6. Overseas funeral expenses.

Typically, insurers cover pregnancy-related expenses if travel occurs during the first trimester, with coverage varying among insurers afterward.

To find affordable travel visa insurance for Europe, conducting individual and thorough research is essential. This involves searching online for suitable medical insurance policies. It's advisable to compare products and companies to identify the cheapest and most suitable travel insurance for the Schengen visa.

Don't let price confuse you; not all inexpensive travel insurance policies provide low-quality services, and not all expensive plans offer high-quality service. Therefore, the best approach is to select a policy that covers all required areas according to the Schengen visa application requirements, rather than solely focusing on price.