Best Travel Insurance in Singapore 2022

Compare the Best Travel Insurance in Singapore 2022

What is Travel Insurance? 

You can never be overly prepared when it comes to travelling. Travel insurance has become a crucial component of ensuring peace of mind when travelling, as it safeguards you against financial losses arising from unforeseen circumstances before and during your travels abroad. 

What Does Travel Insurance Cover?

Travel insurances are highly customisable, with plans offering suites of different coverages depending on your needs. In general, these are the common categories of coverage you can expect from travel insurance: 

Types of Travel Insurance Plans

Apart from understanding what travel insurances cover, knowing what types of travel insurance plans are available helps you purchase the right policy. 

Single Trip Plans

Single trip plans cover only a specific trip abroad that safeguards you upon departure and arrival in Singapore. If you are a single traveller, or only travel once or twice a year, this plan may be suitable for you. 

Annual Cover

Issued with a one-year coverage, annual travel insurance plans cover you for unlimited trips in your policy year. Good news for folks who travel frequently! This is suitable for you if you travel often as it saves you the hassle of re-purchasing travel insurance each time you travel. 

Individual Plan

As its name suggests, individual travel insurance plans cover only a single traveller. Individual travellers will likely purchase this plan. Depending on the frequency of your travels, you may then decide if a single trip or annual cover is most suitable for you. 

Family Plan

A family plan will cover you and your immediate family, with a stipulated cap on the number of persons your plan can cover. This would mean that your spouse or partner, yourself, and your children will be insured under a family plan. If you are traveling abroad together as a family, family plans would be a more economical option than individual plans for each family member. 

Best Travel Insurance With COVID-19 Coverage 2022

COVID-19 has dramatically changed the landscape of overseas travel. Catching COVID-19 abroad has become a very real concern, and its related medical treatment a financial cost we are all worried about.

Most insurance companies now offer COVID-19 coverage as an add-on to enhance your existing travel insurance, while others have built-in COVID-19 coverage to their existing travel insurance products for a higher premium. 

Choose from our curated list of travel insurances that includes COVID-19 coverage, with varying coverage priorities for every traveller:

How Much Does Travel Insurance Cost? 

Your travel insurance premium depends on several factors, such as 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, including 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.

What to Consider Before Purchasing Travel Insurance?

Choosing the best travel insurance plan is largely dependent on your priorities and needs. To simplify this process, here are several regularly overlooked factors to consider before making your purchase.

Know Your Needs

While it may seem obvious, picking the right travel insurance policy is highly subjective – so identify what you value most.

For example, if you're planning a road trip with your spouse and children, you'd likely opt for a family plan and might consider purchasing car insurance and a standard travel insurance plan. That is because rental vehicle excess fees are typically capped at a lower amount than 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.

A typical travel insurance plan may also only cover individuals up to 70 years old.

The Claims Process

Getting your travel insurance online can be a quick process, but you should also take note of how to make a claim and the exact parameters of your coverage. Whether upfront or in the fine print, these terms should be stated plainly on an insurance provider's website.

For instance, can a claim be made online? Or would you be required to fill out lengthy paperwork prior? It is also always a good idea to note the closest panel clinics in the area where you'll be living.

Travel Insurance Claims

Filing for a travel insurance claim can seem daunting, especially if you are already overwhelmed and stressed out about the unforeseen situation resulting in your claims. Fret not! Here is your step-by-step guide on how to navigate the entire claims process:

1. Inform your insurer: Contact your insurer as soon as you need to make a claim, as there is usually a 30-day time limit for making a claim. 
2. Fill in the necessary forms: Once you have notified your insurer, fill in the necessary travel insurance claims form(s). 
3. Ready supporting documents: Here are some supporting documents that you may require to substantiate your claim: NRIC, copies of airline tickets, original medical bills or reports, carrier irregularities report, and original purchase receipts or invoices. 
4. Submit your travel insurance claims: The mode of submission differs depending on your travel insurance company. Some may require you to submit it online, in person, or by mail. Attach your supporting documents to your claims form and submit these documents accordingly. 
5. Await reimbursement     

Travel Insurance 101

Want to find out more about travel insurance before you commit to one? Check out our list of curated travel insurance guides to find the best travel insurance plan and the things to look out for before making your purchase: 

• Best Travel Insurance With COVID-19 Coverage
• Cheat Sheet: Best Travel Insurance Guide In Singapore 2022
• Ultimate Guide to Vaccinated Travel Lane: Costs and What to Take Note Of
• Things to Look Out For When Buying Travel Insurance
• Ultimate Singapore-Malaysia Land Vaccinated Travel Lane Guide
• Ultimate Korea Vaccinated Travel Lane Guide
• Student Exchange Insurance Plans: Should I Add On to My School’s Insurance?

Frequently Asked Questions

How do I choose the best travel insurance?

This would depend on several factors, such as the risk of travel mishaps and total pre-trip costs that may be subjected to cancellations. With COVID-19, it is also crucial to purchase travel insurance that covers medical expenses, overseas hospital cash and quarantine allowance.

Are family travel insurance plans cheaper?

Family travel insurance plans may be most cost-effective if you are travelling together with other family members, as it is usually the most value for money to insure everyone under the same policy.

Can I buy travel insurance once I'm overseas?

Yes, you can still purchase travel insurance once abroad. Such policies are known as post-departure policies and may charge higher premiums than policies purchased before your trip begins. Most importantly, do note that coverage for post-departure policies only begins 3 days (or 72 hours) from the time of purchase.

How do I compare travel insurance policies?

Before purchasing your travel insurance, you can begin by comparing policies based on types and amount of reimbursement offered against your personal needs and risks incurred for your travel (destination, nature of trip etc). Once you have a rough idea of how much coverage you require, compare between insurance plans for one that offers the best rates.

When should I buy travel insurance?

While you will still be able to purchase your travel insurance anytime before departure, it is recommended that you get insured as soon as you plan your trip and make the necessary reservations. This ensures that you are protected against unforeseen cancellations of bookings.

What type of travel insurance is right for me?

Finding the right travel insurance plan depends greatly on your needs and perhaps factors like the nature of risks incurred from your trip. There are also other more practical considerations that you may want to think about. For cancellation or baggage coverages, consider the coverage period and the amount you are insured for. With COVID-19 completely altering the travel landscape, pay special attention to medical coverages and COVID-19 related expenses such as whether your travel insurance offers quarantine allowances.

What should I consider before choosing a travel insurance policy?

Apart from choosing travel insurance that is value for money, ensure that you cover all bases before committing to a policy. Your travel policy should cover you for risks or losses incurred from trip cancellation and interruption, baggage and personal item loss, medical expenses, COVID-19 related expenses, and life insurance coverage. More practically, you should also consider other factors such as the ease and process of claims and terms of claims.

Can travel insurance be extended?

The extension of travel insurance varies depending on your insurer. While some do not allow extensions, some travel insurers allow extensions subject to higher premiums.

Are all countries covered in my travel insurance plan?

Some travel insurance policies may exclude certain countries from coverage. It is best to check with your chosen insurer if your intended travel destination is covered under your plan.

Will I still be fully covered if changes are made to my travel dates?

Yes, you will still be fully covered if you need to amend your travel dates. However, note that different insurers have different amendment terms, and some may charge an administration fee.

Will pre-existing condition(s) affect the premium price for my travel insurance?

Unfortunately, most travel insurance providers do not provide coverage for a pre-existing condition(s). For those that do, premiums are likely to be significantly higher.

What factors affect the cost of travel insurance?

As with all and any insurances, travel insurance works on the principle of risks. As such, factors that can affect the cost may include age, the destination of travel, the number of days of your trip, the amount of coverage chosen and the number of people covered in the policy.

Does travel insurance get more expensive closer to the trip?

No, travel insurance does not get more expensive closer to your departure. However, it is prudent to purchase your travel insurance as soon as you have started planning for your to maximise the benefits of your travel insurance.

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Seedly's Product Comparison Page Listing Guidelines
For Travel Insurance Insurance products to be listed on Seedly's Product Comparison Page, they have to fulfil the following criteria:

• Policies protected under the Policy Owners’ Protection (PPF) Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC)
• Coverage for unforeseen circumstances while travelling abroad

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