New Schengen Visa rules: Know changes in travel, insurance trends

NEW Schengen Visa rules have resulted in a doubling of Europe-bound senior citizens, a survey by insurance broker Policybazaar.com revealed.

The new Schengen Visa rules, announced on April 18, have also spurred significant changes in travel insurance trends over the past few days, including a 3-4 per cent surge in users who booked travel insurance policies, as per the Policybazaar survey.

Travellers to Schengen destinations aged 70 and above have doubled compared with last year's figures. A significant rise in travellers declaring pre-existing diseases was also noted.

The most sought-after add-ons for travel insurance included coverage for baggage or loss of belongings, trip cancellation, adventure sports coverage, and pre-existing disease (PED) coverage, as per the report.

Manas Kapoor, business head of Travel Insurance at Policybazaar.com, pointed out a surge among Europe-bound travellers who booked long-term travel insurance, after the new visa rules came into effect.

The survey noted a 3-4 per cent surge in users who booked travel insurance policies for travels that exceeded 45 days in April 2024. “This trend is expected to rise further due to the relaxed visa norms," Manas Kapoor pointed out.

In the upcoming summer season, 82 per cent of Indian travellers to European countries will be visiting popular destinations like France, Switzerland, Italy, Germany, Netherlands, and Spain, according to the survey.

The survey found a 15 per cent rise in travellers to Europe who declared pre-existing conditions including Diabetes and Hypertension, compared with last year's figures.

But a 40% plunge was recorded in a number of travellers buying travel insurance products in Euros.

The new Schengen visa regime entails a stark departure from previous rules. Previously, Indians who wished to travel to one or more European countries were granted Schengen visas for a maximum of three months.

Under the new regime, Indians will be granted Schengen visas for two years, thus facilitating their entry to any of the 29 European countries multiple times. This two-year validity is further extendable by 5 years under the ‘cascade regime’. This means Indian tourists can travel and stay in any of these European countries as visa-free nationals for a longer period.