New Schengen Visa regulations: Be aware of shifts in insurance and travel patterns; the number of older individuals visiting Europe has increased by 100%.
Significant changes in travel and insurance trends were brought about by new Schengen Visa regulations, which doubled the number of people over 70 who visited Schengen countries. 82% of tourists visiting Europe this season will go to France, Switzerland, Italy, Germany, the Netherlands, and Spain.
Senior citizens traveling to Europe have doubled as a result of new Schengen Visa regulations, according to a Policybazaar.com survey.
According to a Policybazaar poll, there has been a notable shift in travel insurance trends in the last few days, with a 3–4% increase in the number of customers booking policies, as a result of the new Schengen Visa regulations that were released on April 18.
Compared to the previous year, the number of travelers visiting Schengen destinations who are 70 years of age or older has doubled. There has been a noticeable increase in the number of travelers disclosing pre-existing conditions.
According to the survey, pre-existing disease (PED) coverage, adventure sports coverage, baggage or loss of belongings coverage, and trip cancellation were the most requested add-ons for travel insurance.
Following the implementation of the new visa regulations, Manas Kapoor, business head of Travel Insurance at Policybazaar.com, noted a spike in the number of travelers heading to Europe who purchased long-term travel insurance.
According to the poll, there was a 3–4% increase in consumers who purchased travel insurance coverage for trips longer than 45 days in April 2024. Manas Kapoor noted, “This trend is expected to rise further due to the relaxed visa norms.”
According to the poll, 82% of Indian tourists planning trips to Europe this summer will go to well-known locations like France, Switzerland, Italy, Germany, the Netherlands, and Spain.
Compared to last year’s data, the poll discovered a 15% increase in the number of visitors to Europe who disclosed pre-existing diseases, such as diabetes and hypertension.
However, the number of travelers purchasing travel insurance products in euros fell by 40%.
There is a significant change from the prior regulations with the new Schengen visa regime. Indian nationals were previously only allowed to stay in one or more European countries for a maximum of three months with a Schengen visa.
Indians will be able to enter any of the 29 European nations multiple times under the new Schengen visa program, which will last for two years. The “cascade regime” allows for a further five-year extension of this two-year validity. This implies that Indian visitors can visit and remain in any of these European nations for an extended amount of time without a visa.
For More Visit: https://paisainvests.com/blog/
Disclaimer: The articles on PaisaInvests.com are solely for educational purposes. While we endeavor for accuracy, we make no guarantees regarding completeness or reliability. Readers are advised to conduct their own research and seek professional advice before making any financial decisions. We are not liable for any loss or damage incurred from the use of information provided. Additionally, we do not control the content of external websites linked within our articles.
