Europe travel insurance minimums and budget guide for travelers

Travelers to the Schengen area must carry a medical insurance policy that meets a minimum coverage of €30,000, is valid throughout the 29 Schengen countries, and includes repatriation and funeral expenses. The requirement applies to anyone who needs a Schengen visa; for short visa‑free stays the insurance is not legally mandatory but is strongly recommended. Citizens of Peru, for example, are exempt from the visa‑required insurance for visits under 90 days, but must obtain it for longer stays or non‑tourist purposes.

A cost comparison for travelers from Honduras shows that the cheapest European destinations are Bulgaria, Romania, Albania, Bosnia‑Herzegovina, Serbia and North Macedonia, where daily budgets of €30‑55 can cover accommodation, food, transport and basic activities. By contrast, Switzerland and Iceland rank as the most expensive, with daily expenses ranging from €120‑250, driven by high living costs, accommodation and tourism services.