What Is Travel Insurance?
Travel insurance refers to a purchased plan that covers unforeseen circumstances while travelling abroad.
These include flight delays or trip cancellations, road or flight accidents, stolen or missing baggage, overseas medical emergencies, and any other losses incurred during the length of your trip.
Remember: getting the cheapest travel insurance doesn't always mean you've scored a good deal. Read travel cover reviews in order to make a fair comparison, then consider your options from there.
COVID-19 Coronavirus Travel Insurance Coverage:
Does your travel insurance cover the Covid-19 coronavirus? They depend on the dates your trip and policies were made, as well as policy terms and conditions.
Here are some cut off important coverage cut-off dates to look out for:
AIG Travel Guard:
- To Wuhan: before 22 Jan 2020, 12.01am
- To Mainland China: before 27 Jan 2020, 12.01am
- Others: before 30 Jan 2020, 12.01am
- For Trip Cancellations: before 22 Jan 2020
- For Emergency and Medical coverage after 22 Jan 2020, depending on T&Cs
- On a goodwill basis, if you intend to defer/cancel your trip, trips departing before 30 April 2020 can potentially be covered.
AVIVA Travel Insurance:
- Globally: before 20 Jan 2020
- To Wuhan: before 11 Jan 2020
- To Mainland China: before 27 Jan 2020
- Daegu and Cheongdo: before 23 Feb 2020
- Iran, Northern Italy, Japan and South Korea: before 4 Mar 2020
- For rest of the world trip cancellations: before 11 Mar 2020
- AXA has extended their travel policy coverage for frontline healthcare workers. "AXA will cover trip cancellation claims for healthcare frontliners who have to cancel their trips, irrespective of the date the trip and travel insurance policy was purchased." - AXA
Budget Direct Travel:
- China: before 23 Jan 2020
- South Korea: before 23 Feb 2020
- Rest of the world: before 4 Mar 2020
Chubb Travel Insurance:
Direct Asia Travel:
- To Wuhan: before 22 Jan 2020
- To Hubei: before 23 Jan 2020
- To Mainland China*: before 27 Jan 2020
- To Daegu and Cheongdo: 23 Feb 2020
- To Northern Italy, Japan and the Republic of Korea: before 3 Mar 2020
- Anywhere else: before 12 Mar 2020
- Wuhan: before 20 Jan 2020, 8pm
- Rest of Mainland China: before 27 Jan 2020, 7pm
- For policies issued before 30 Jan 2020 with the departure date before 11 Mar 2020: claims would be considered based on policy T&Cs.
Etiqa/ Tiq eProtect:
- For Trip Cancellation
- Wuhan: before 22 Jan 2020, 12.01am
- To Mainland China*: before 27 Jan 2020, 12.01am
- Others: before 31 Jan 2020, 12.01am
- Emergency and Medical coverage depending on T&Cs.
FWD Travel Insurance:
- Mainland China*: before 23 Jan 2020
- Globally for ‘Trip Cancellation’, ‘Trip Postponement’, ‘Trip Cut Short’ & ‘Trip Disruption’: before 31 Jan 2020
- Anywhere else: before 6 Mar 2020
Great Eastern Travel:
- Hubei Province: before 24 Jan 2020, 9.30am
- Mainland China: before 28 Jan 2020, 11.59pm
- South Korea: before 25 Feb 2020, 11.59pm
- Rest of the World: before 3 Mar 2020, 11.59pm
Hong Leong Assurance Travel Protect:
- Mainland China: before 23 Jan 2020
- Daegu and Cheongdo: before 23 Feb 2020
- Northern Italy, Japan and South Korea: before 3 Mar 2020
- Rest of the world: before 12 Mar 2020
India International Insurance (III) Travel:
NTUC Income Travel Insurance:
- Wuhan: before 20 Jan 2020, 8pm
- Mainland China: before 27 Jan 2020, 7pm
- Daegu & Cheongdo: before 23 Feb 2020, 6pm
- Rest of South Korea, Japan, Iran and Northern Italy: before 4 Mar 2020, 9am
- Wuhan: before 22 Jan 2020
- Hubei Province: before 23 Jan 2020
- Mainland China*: before 27 Jan 2020
- Daegu or Cheongdo of South Korea: before 23 Feb 2020
- South Korea, Italy, Iran, Japan and other destinations: before 27 Feb 2020
- For Trip Cancellations:
- To Wuhan and Hubei: before 22 Jan 2020, 8pm
- To Mainland China: before 27 Jan 2020, 7pm
- For all other areas, Sompo TravelJoy will not be covering any trip cancellations related to the COVID-19 outbreak.
- Unless, the insured contracts the Novel Coronavirus in Singapore and is unable to proceed with the trip before the stipulated states
- Emergency and Medical coverage depends on policy T&Cs
Tokio Marine Xplora:
- For Trip Cancellations: policies bought before 11 Jan 2020
- Other COVID-19 related claims: departure before 15 Mar 2020
* excluding Taiwan, Hong Kong & Macau
(COVID-19 related information as of 13 March 2020)
What Does Travel Insurance Cover?
It covers your safety, at its very core. Which also means you'd be reimbursed under unforeseen circumstances, so long as you meet certain prerequisites.
A basic plan should suffice, and allow you to claim for:
- Delayed or lost baggage
- Trip cancellation(s)
- Flight delays and cancellations
- Missed flight connections
- Overseas medical treatment and expenses (ideally at least $200,000 in coverage)
- Emergency medical evacuation (ideally unlimited coverage)
- Credit card fraud
- Reimbursements, in the event of your travel agency going bust
- Loss of passport, travel documents or theft of money
Coverage options include those for individuals, couples, groups and families.
Pertinent to mention are the benefits of getting family coverage:
- Possible coverage of up to $10,000 for flying a loved one to your side in the event of hospitalisation
- Possible coverage of up to $10,000 for flying a loved one to repatriate your remains in the event of death
- Cheaper and more convenient than applying for multiple individual travel policies for all family members
Travel policies can be offered in single trips or annual multi-trip plans. If you're a frequent traveller, the option of purchasing an annual plan might be more economical than purchasing a single trip travel insurance every time you fly.
We've concisely summarised everything to look out for before buying travel insurance here, and why you shouldn't simply settle for the cheapest option.
What To Know Before Getting Travel Insurance
On that, here are some regularly overlooked factors when purchasing travel insurance.
The Claims Process
Getting travel insurance online is a quick process, but you should also take note of how to make a claim, and the exact parameters of your coverage. These terms should be stated plainly on an insurance provider's website, whether upfront or in the fine print.
For instance, can a claim be made online - or would you be required to fill out lengthy paperwork prior? It's also always a good idea to note the closest panel clinics in the area in which you'll be living.
Know Your Needs
While it seems obvious, picking the right travel insurance policy is highly subjective - so identify what you value most.
If you're planning a road trip with your spouse and children, you'd likely opt for for family cover - and might consider purchasing car insurance, in addition to a standard travel insurance plan. That's because rental vehicle excess fees are typically capped at a lower amount with the latter.
Most travel policies offer similar coverage, but the difference lies in the compensation offered per category - whether personal accident expenses, flight delays or loss of belongings, for example.
A typical travel insurance plan may also only cover individuals up to the age of 70.
How Much Does Travel Insurance Cost?
Your travel insurance premium depends on the number of days spent abroad, and the areas you intend to visit.
It could start from as little as $18 for several days' coverage to ASEAN countries - which include Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, Brunei, Laos, Myanmar and Cambodia.
Most insurance providers typically offer more 'premium' options, too, with coverage of up to $1,000,000 for overseas medical emergencies.
Travel Insurance Providers in Singapore
You'll find a host of travel insurance providers for your picking - plus real user reviews from Seedly readers. These include:
Once you've settled on an insurance provider - or at least narrowed your choices - check that you aren't paying more than necessary.
If you're planning a holiday to Malaysia and Indonesia, you might want to purchase travel insurance for ASEAN countries, as opposed to all of Asia (which would typically include places like Australia and New Zealand.)
The Best Travel Insurance Options In Singapore 2020
Here's a quick look at the best travel insurance plans in Singapore for your next holiday, and the maximum sum assured per provider.
- Best Overall Value: MSIG Travel Easy
- Up to $250k for medical expenses and accidents
- Best For Personal Accidents and Medical Expenses: Great Eastern Travel Smart Basic
- From $300K to $500K
- Best for Cancelled Trips: FWD Travel Premium
- Up to $7,500
- Best for Lost Belongings: AXA TravelSmart
- Up to $800 per item, pair or set of items
- Best for Pre-existing condition: NTUC Enhanced PreX
- Up to $200K medical expenses overseas
- Best for NS Men: AVIVA Travel Lite
- Up to $250K medical expenses overseas
Tools To Help You Choose The Best Travel Insurance
Need help figuring out which insurance company to go to for the best travel insurance? We've compiled a guide (slash cheatsheet) to the best insurance options in Singapore here.
If you've still got burning questions after reading real user reviews on the best travel insurance options in Singapore, head on over to the Seedly Q&A platform! You'll be able to pose your questions anonymously, too.